Insteel Industries Beats Analyst Estimates on EPS
Insteel Industries (NAS: IIIN) reported earnings on April 18. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 30 (Q2), Insteel Industries missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted. GAAP earnings per share grew significantly.
Margins grew across the board.
Insteel Industries recorded revenue of $82.9 million. The three analysts polled by S&P Capital IQ foresaw revenue of $87.7 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.20. The three earnings estimates compiled by S&P Capital IQ averaged $0.12 per share. GAAP EPS of $0.20 for Q2 were much higher than the prior-year quarter's $0.01 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 13.3%, 700 basis points better than the prior-year quarter. Operating margin was 7.0%, 630 basis points better than the prior-year quarter. Net margin was 4.5%, 420 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $99.8 million. On the bottom line, the average EPS estimate is $0.23.
Next year's average estimate for revenue is $376.3 million. The average EPS estimate is $0.73.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 217 members out of 234 rating the stock outperform, and 17 members rating it underperform. Among 65 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 56 give Insteel Industries a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Insteel Industries is outperform, with an average price target of $20.00.
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The article Insteel Industries Beats Analyst Estimates on EPS originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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