Insteel Industries Inc. (IIIN) is the largest manufacturer of steel wire reinforcing products for concrete construction applications in the United States. The company focuses exclusively on manufacturing and marketing products used primarily in nonresidential construction. Its offerings include steel wire products designed to reinforce concrete structures.
- Welded Wire Reinforcement (WWR) - Manufactures steel wire sheets and rolls used to reinforce concrete in construction projects, primarily for nonresidential applications.
- Prestressed Concrete Strand (PC Strand) - Produces high-strength steel strands used in prestressed concrete construction, enhancing the durability and load-bearing capacity of concrete structures.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
H. O. Woltz III ExecutiveBoard | Chief Executive Officer | H. O. Woltz III has been the CEO of Insteel Industries Inc. since 1991. He previously served as President since 1989 and has been Chairman of the Board since 2009. | View Report → | |
Elizabeth C. Southern Executive | Vice President Administration, Secretary, and Chief Legal Officer | Elizabeth C. Southern is the Vice President Administration, Secretary, and Chief Legal Officer at IIIN since June 2023. Prior to this, she held senior management roles at Hanesbrands Inc. as Deputy General Counsel, Assistant Secretary, and Vice President, Human Resources, and worked as an associate attorney at Womble Bond Dickinson (US) LLP. | ||
James R. York Executive | Senior Vice President, Sourcing and Logistics | James R. York is currently Senior Vice President, Sourcing and Logistics at IIIN since October 2020. He previously served as Vice President, Sourcing and Logistics from 2018, and there is no record of board or committee memberships. | ||
Richard T. Wagner Executive | Senior Vice President and Chief Operating Officer | Richard T. Wagner is the Senior Vice President and Chief Operating Officer at Insteel Industries Inc. since October 2020. He joined the company in 1992 and previously served as Vice President and General Manager of the Concrete Reinforcing Products Business Unit since 1998. | ||
Scot R. Jafroodi Executive | Vice President, Chief Financial Officer, and Treasurer | Scot R. Jafroodi has served as Vice President, Chief Financial Officer, and Treasurer at Insteel Industries Inc. since January 2023. He previously held executive roles at the company, including Vice President, Corporate Controller, and Chief Accounting Officer from October 2020 to January 2023. | ||
Abney S. Boxley III Board | Independent Director | President of Boxley Family, LLC; Chairman of Boxley Ready Mix, LLC; Director at Pinnacle Financial Partners, Inc.; Director at RGC Resources, Inc. | Abney S. Boxley III has served as an independent director at Insteel Industries Inc. since April 1, 2018. He has an extensive background in the construction aggregates industry, notably as President and CEO of Boxley Materials Company from 1988 to 2016. | |
Anne H. Lloyd Board | Director | Director at Highwoods Properties, Inc. ; Director and Non-Executive Chair at James Hardie Industries p.l.c. | Anne H. Lloyd has served as an independent Director at Insteel Industries Inc. since April 16, 2019 while participating in both the Audit and Executive Compensation Committees. Previously, she held various executive roles including CFO at Martin Marietta Materials, Inc. from 2005 to 2017. | |
Blake K. Doyle Board | Independent Director | Managing Director, Head of Institutional Sales, Head of Product Development at Chevy Chase Trust Company | Blake K. Doyle was appointed as an independent director at IIIN on December 6, 2024 and serves on the Audit Committee of the Board. She has extensive experience in institutional sales, capital markets, and product development from her active role as Managing Director at Chevy Chase Trust Company. | |
Eric J. Zernikow Board | Independent Director | Strategic Business Advisor | Eric J. Zernikow has been serving as an Independent Director at IIIN since February 28, 2025. He brings deep industry expertise from his extensive leadership history at Nucor and his current role as a Strategic Business Advisor in the steel industry. | |
G. Kennedy (Ken) Thompson Board | Director | Lending Tree, Inc.; Pinnacle Financial Partners, Inc. | G. Kennedy (Ken) Thompson has served as a Director at IIIN since September 6, 2017, serving as Audit Committee Chair and Executive Compensation Committee Member. He also holds board positions at Lending Tree, Inc. and Pinnacle Financial Partners, Inc.. | |
Jon M. Ruth Board | Director | Jon M. Ruth has served as an independent director at IIIN since April 1, 2016, and is the Chair of the Executive Compensation Committee as well as a member of the Nominating and Governance Committee. Previously, he built an extensive career at Cargill Incorporated in various senior executive roles including Vice President and President of North Star Steel. | ||
Joseph A. Rutkowski Board | Director | Principal at Winyah Advisors LLC; Director of Cenergy Holdings S.A.; Director of Viohalco S.A. | Joseph A. Rutkowski has served as an independent Director at Insteel Industries Inc. since September 18, 2015. With extensive experience from his prior executive roles at Nucor Corporation and his current position as Principal at Winyah Advisors LLC since 2010, he provides valuable governance and strategic oversight to the board. | |
W. Allen Rogers II Board | Director | Partner at Peter Browning Partners, LLC | W. Allen Rogers II has served as an independent Director and Lead Independent Director at IIIN since February 4, 1986 and 2009 respectively, and brings extensive expertise in investment banking and public company governance. |
- Given that your revenue growth for '25 is expected to benefit from both favorable pricing increases and increased shipment volumes from recent acquisitions , how will you balance these levers while offsetting rising raw material and cost pressures?
- Considering the tightening domestic wire rod supply and the anticipated rise in imports affecting your PC strand market , what specific strategies are in place to maintain pricing power and prevent margin erosion?
- With the integration of Engineered Wire Products involving significant system overhauls , what contingency plans do you have if operational disruptions or unexpected costs from the integration process emerge?
- In view of the seasonal demand uncertainties and potential reversion to 2024 trends , how will management adjust capacity and production strategies if the recent Q4 shipment uptick fails to sustain into later quarters?
- Given the expected additional intangible amortization and restructuring charges impacting SG&A expenses , can you clarify how these adjustments will influence your full-year earnings guidance and cost efficiency targets?
Research analysts who have asked questions during INSTEEL INDUSTRIES earnings calls.
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Some of our competitors are vertically integrated companies that produce both wire rod and concrete reinforcing products and offer multiple product lines over broad geographic areas. | |
Liberty Steel USA | Some of our competitors are vertically integrated companies that produce both wire rod and concrete reinforcing products and offer multiple product lines over broad geographic areas. |
Oklahoma Steel and Wire | Some of our competitors are vertically integrated companies that produce both wire rod and concrete reinforcing products and offer multiple product lines over broad geographic areas. |
Wire Mesh Corporation | Our primary competitors for WWR products are smaller independent companies that offer limited competition in certain markets. |
Concrete Reinforcements, Inc. | Our primary competitors for WWR products are smaller independent companies that offer limited competition in certain markets. |
National Wire Products | Our primary competitors for WWR products are smaller independent companies that offer limited competition in certain markets. |
Davis Wire Corporation | Our primary competitors for WWR products are smaller independent companies that offer limited competition in certain markets. |
Oklahoma Steel & Wire Co., Inc. | Our primary competitors for WWR products are smaller independent companies that offer limited competition in certain markets. |
Sumiden Wire Products Corporation | Our primary competitors for PC strand are smaller independent companies that offer limited competition in certain markets. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Engineered Wire Products, Inc. (EWP) | 2024 | Insteel Industries acquired substantially all of EWP’s assets for approximately $70.0 million (cash funded, subject to adjustments) on October 21, 2024. The deal included EWP’s inventories, production equipment, and facilities in Upper Sandusky and Warren, Ohio (with certain exclusions and a 4‑year non-compete clause) to expand Insteel’s geographic footprint and competitive position in the Midwest. |
Strand-Tech Manufacturing (STM) | 2020 | Insteel Industries acquired nearly all of STM’s assets for an adjusted purchase price of $19.4 million (initially $22.5 million) on March 16, 2020, funding the transaction entirely from cash on hand. The acquisition included the Summerville facility, accounts receivable, inventories, and production equipment—with plans to close the facility and consolidate equipment—to optimize manufacturing operations, reduce costs, and respond to market pressures from low-priced imports. |
Recent press releases and 8-K filings for IIIN.
- In Q4 2025, Insteel Industries reported net earnings of $14.6 million, or $0.74 per diluted share, with shipment volumes increasing 9.8% year over year and average selling prices rising 20.3% year over year. The company's gross margin improved by 700 basis points to 16.1%.
- The company ended Q4 2025 with $38.6 million cash on hand and was debt-free. In fiscal 2025, Insteel returned $24 million to shareholders through dividends and share repurchases, including a $1 per share special cash dividend.
- Demand in non-residential construction markets remains strong, driven by areas like data center development and infrastructure projects, while residential construction continues to lag and is a headwind, representing approximately 15% of the company's revenues.
- Supply constraints for steel wire rod eased, allowing for increased production and inventory rebuilding, with Q4 inventory representing 3.5 months of shipments. However, the consumption of higher cost materials in inventory could lead to margin compression during Q1 2026.
- For fiscal 2026, capital expenditures are projected to total $20 million, aimed at broadening product offerings, reducing production costs, and enhancing information systems.
- Insteel Industries Inc. reported Q4 2025 Earnings Per Share of $0.74 and annual Earnings Per Share of $2.10 for fiscal year 2025.
- As of September 27, 2025, the company was debt-free with $38.6 million of cash. In fiscal year 2025, Insteel generated $303.1 million in cash from operating activities , paid a regular quarterly cash dividend of $0.03 per share , and a special cash dividend of $1.00 per share in December 2024. The company also repurchased $2.3 million of common stock in FY 2025 and has $17.1 million remaining available under its share repurchase program.
- The company maintains a cautiously optimistic outlook for fiscal 2026, supported by operational improvements, recovering raw material availability, contributions from recent acquisitions, and strong public nonresidential construction activity, with expected capital expenditures of up to $20.0 million.
- Insteel Industries reported significantly increased net earnings of $14.6 million, or $0.74 per diluted share, for Q4 2025, compared to $4.7 million, or $0.24 per diluted share, in the prior year period.
- The company saw quarterly shipments rise 9.8% year over year and average selling prices increase 20.3% year over year, leading to a 700 basis point improvement in gross margin to 16.1%.
- While supply constraints for steel wire rod eased, residential construction remains a headwind, and the company anticipates potential margin compression in Q1 2026 due to the consumption of higher-cost inventory. Despite this, management expects business conditions to remain robust into calendar 2026.
- In fiscal 2025, $24 million was returned to shareholders through dividends and share repurchases, and the company ended Q4 2025 with $38.6 million cash on hand and no debt. Fiscal 2026 capital expenditures are projected to be $20 million.
- Insteel Industries reported a 32.1% year-over-year revenue increase to $177.4 million for the fourth quarter of fiscal 2025, driven by a 20.3% rise in average selling prices and a 9.8% increase in shipment volumes.
- Despite strong revenue growth, the company missed analyst earnings per share expectations, reporting $0.74 versus the anticipated $0.79, though net earnings significantly rose from $4.7 million to $14.6 million year-over-year.
- Insteel improved its gross margin to 16.1% from 9.1% and operating margin to 10.7%, maintaining a solid financial position with $38.6 million in cash and no debt.
- Free cash flow for the quarter was negative $18.73 million, a decline from positive $14.54 million in the prior year, and management noted raw material sourcing challenges that constrained production earlier in the quarter.
- Management expressed cautious optimism for fiscal 2026, planning capital expenditures of up to approximately $20 million, with analysts expecting 15.5% revenue growth over the next 12 months.
- Insteel Industries Inc. (IIIN) reported net earnings of $14.6 million, or $0.74 per diluted share, on net sales of $177.4 million for the fourth quarter of fiscal 2025.
- For the full fiscal year 2025, the company achieved net earnings of $41.0 million, or $2.10 per diluted share, with net sales reaching $647.7 million.
- The company maintained a strong liquidity position, ending the fourth quarter of fiscal 2025 with a net cash balance of $38.6 million and no debt outstanding.
- Management provided a cautiously optimistic outlook for fiscal 2026, anticipating capital expenditures of up to approximately $20.0 million.
- In the fourth quarter of fiscal 2025, Insteel Industries reported net earnings of $14.6 million, or $0.74 per diluted share, on net sales of $177.4 million, with a gross profit of $28.6 million and a 16.1% gross margin.
- For the full fiscal year 2025, the company achieved net earnings of $41.0 million, or $2.10 per diluted share, with net sales reaching $647.7 million and a gross profit of $93.4 million.
- As of September 27, 2025, Insteel maintained a strong liquidity position with a net cash balance of $38.6 million and no debt outstanding. Operating activities used $17.0 million of cash in the fourth quarter but generated $27.2 million for the full fiscal year 2025.
- The company expects fiscal 2026 capital expenditures to total up to approximately $20.0 million and remains "cautiously optimistic" about the 2026 outlook, despite monitoring broader macroeconomic conditions.
- Insteel Industries Inc. reported Q3 2025 Earnings Per Share of $0.78.
- The company was debt-free with $53.7 million of cash as of June 28, 2025.
- IIIN maintains a regular quarterly cash dividend of $0.03 per share and paid a special cash dividend of $1.00 per share in December 2024.
- The company has repurchased $2.0 million of common stock year-to-date fiscal 2025, with $17.4 million remaining under its current share repurchase program.
- Management expressed confidence in the business outlook for Q4 fiscal 2025, anticipating increased shipments and improved operating rates, supported by a strong outlook for public nonresidential construction.
- Q2 2025 Financial Performance: Reported net earnings of $10.2 million, EPS of $0.52, and net sales of $160.7 million .
- Gross Profit & Margin Improvement: Achieved $24.5 million in gross profit with margins expanding to 15.3% (up from 12.3%), despite restructuring and acquisition-related costs .
- Robust Revenue Growth: Shipment volumes increased by 28.9% YoY and 17.9% sequentially, driven by higher production volumes and significant cost reductions .
- Solid Liquidity & Capital Allocation: Remains debt-free with $28.4 million in cash, supporting a disciplined strategy including regular dividends and active share repurchase .
- Market & Operational Outlook: Optimistic sentiment propelled by seasonal construction recovery, recent acquisitions, and the favorable impact of the Section 232 tariff extension on PC strand products .
- Core Operations: Focus on manufacturing steel wire reinforcing products, particularly Welded Wire Reinforcement (WWR) and PC Strand, primarily serving the U.S. market .
- The company held its 2025 Annual Meeting on February 11, 2025, where shareholders approved the 2025 Equity Incentive Plan designed to grant various types of awards over a ten-year period, with an effective date of February 11, 2025 and awards available until February 10, 2035.
- Shareholders also voted on key matters including the election of three directors, an advisory vote on executive officer compensation, and the ratification of Grant Thornton LLP as the independent public accounting firm, demonstrating broad shareholder support.
- The 2025 Plan sets limits of up to 800,000 shares for awards overall and 600,000 shares specifically for incentive options, with further provisions incorporating adjustments from the earlier 2015 Equity Incentive Plan.