Insteel Industries (IIIN) Q3 2026 Earnings Call Transcript

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DATE

Thursday, July 16, 2026 astatine 10:00 a.m. ET

CALL PARTICIPANTS

• President and Chief Executive Officer - Howard Osler Woltz

• Vice President, Chief Financial Officer and Treasurer - Scot R. Jafroodi

Full Conference Call Transcript

Operator: Hello, everyone. Thank you for joining us, and invited to the Insteel Industries Third Quarter 26 net call. After today's prepared remarks, we volition big a question-and-answer session. If you would similar to inquire a question, delight property 1. To rise your hand. To retreat your question, property 1 again. I volition present manus the league implicit to H. Woltz, president and main enforcement officer. H, delight spell ahead.

Howard Osler Woltz: Thank you. Good morning. Thank you for your involvement successful Insteel. And invited to our 3rd 4th 26 league telephone which volition beryllium conducted by Scot R. Jafroodi, our Vice President, CFO and Treasurer; and me. Before we begin, fto maine punctual you that immoderate of the comments made successful our presumption are considered to beryllium guardant looking statements that are taxable to assorted risks and uncertainties which could origin existent results to disagree materially from those projected. These hazard factors are described successful our periodic filings with the SEC. Despite falling abbreviated of our expected fiscal performance, successful Q3, we judge the upturn successful concern enactment we reported antecedently is inactive intact.

I volition crook the telephone implicit to Scot to remark connected our fiscal results. And pursuing his comments, I volition prime the telephone backmost up to sermon our concern outlook.

Scot R. Jafroodi: Thank you, H. And bully greeting to everyone joining america connected the call. As reported successful our net merchandise this morning, 3rd 4th results benefited from higher mean selling prices and improved shipment activity. However, those benefits were much than offset by higher costs. Resulting successful nett net of $9 cardinal oregon $0.46 per stock compared with $15.2 cardinal oregon $0.78 per stock successful the anterior twelvemonth quarter, Despite the diminution successful earnings, underlying request trends stay mostly favorable. Third 4th shipments accrued 1.7% from the anterior twelvemonth quarter, supported by steadfast infrastructure activity, though conditions crossed overmuch of the broader backstage nonresidential operation marketplace stay soft.

Wet upwind successful definite regions, unneurotic with scheduling and transportation delays connected respective lawsuit projects, including information halfway related projects, moderated the gait of shipments during the quarter. Continue to presumption these task delays arsenic timing related alternatively than indications of weakening underlying demand. Overall, lawsuit sentiment remains affirmative and enactment crossed our cardinal markets proceed to enactment our outlook. Turning to pricing. Average selling prices accrued 8.1% from the anterior twelvemonth 4th and 2.3% sequentially from the 2nd quarter. Reflecting the continued payment of pricing actions implemented implicit the past twelvemonth successful effect to higher alloy ligament rod, freight, and different operating costs.