IIIN News & Events

Stock futures are experiencing modest gains in early trading as optimism around a strong outlook from Taiwan Semiconductor Manufacturing bolsters technology sentiment and lifts semiconductor and AI-related shares. This suggests investor risk appetite is returning after recent weaker sessions. Analysts note that TSMC's robust quarterly results and plans for expanded U.S. manufacturing have injected fresh confidence into the chip sector and could support broader tech leadership even as markets await further corporate earnings.Still, broader sentiment remains mixed and cautious after a two-day losing streak for major U.S. indexes, driven by profit-taking in technology shares and concerns around banking sector pressures, including regulatory risks and proposals on credit card rate caps that have weighed on financial stocks.Currency and bond markets have also shifted in response to these cross-currents, contributing to the broader risk-on yet cautious tone.In pre-market trading, S&P 500 futures rose 0.49%, Nasdaq futures rose 1.07% and Dow futures slipped 0.07%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Penumbraup 13% after entering into a definitive agreement under which Boston Scientificwill acquire the company in a cash and stock transaction that values Penumbra at $374 per shareSpotifyup 1% after announcing that it is raising prices for premium subscriptionsUP AFTER EARNINGS -TSMCup 5%Insteelup 5%BlackRockup 2%DOWN AFTER EARNINGS -Morgan Stanleydown 1%Goldman Sachsdown 1%LOWER -Boston Scientificdown 4% after announcing its agreement to acquire PenumbraInstacartdown 5% after Uberand Krogerannounced the launch of nearly 2,700 stores on the Uber Eats, Uber, and Postmates apps

Reports Q1 revenue $159.9M vs. $129.72M last year. "Despite industry statistics that would indicate softening construction activity, our markets were resilient during our Q1 and shipment volumes held up," said CEO H.O. Woltz III. "Nonresidential construction remained a key demand driver, supported by infrastructure spending and data center activity. While residential markets remain soft, we are encouraged by early signs of stabilization. As anticipated, first quarter shipments reflected the typical seasonal slowdown, and margins were impacted by the consumption of higher-cost raw material inventories. While forecasters have raised questions surrounding future construction activity, we continue to experience positive customer sentiment and expect 2026 to offer solid opportunity for Insteel. The downward trajectory of interest rates, together with contributions from our recent investments, causes us to be optimistic about our prospects. With that said, we remain concerned about the significant steel price premium in the U.S. relative to the global market, and we expect finished products markets exposed to imports to remain highly competitive. As we have stated previously, only about 10% of our revenues are directly affected by import competition. Looking ahead, we are optimistic that Insteel is positioned for a year of strong performance."

Reports Q4 revenue $177.4M vs. $134.3M last year. The strong performance was driven primarily by wider spreads between selling prices and raw material costs, along with higher shipments of Insteel's concrete reinforcement products. These gains were partially offset by higher selling, general, and administrative expenses, mainly reflecting increased incentive plan costs. "Our fourth quarter was reasonably strong, supported by steady operational improvements and continued strength in our core markets," said H.O. Woltz III, President and CEO of Insteel. "Over the course of the quarter, we addressed raw material sourcing challenges that had constrained production, although not until the end of the quarter were lead times more normal for the season. The supply of hot rolled steel wire rod, our primary raw material, meaningfully improved due to increased domestic production and substantial offshore purchases. Eliminating the raw material constraint enabled us to better align production with customer demand and reduce lead times as we closed the year. As we enter fiscal 2026, market conditions are generally strong and stable, although residential construction remains moribund, as it has been for much of the year. Our recent acquisitions contributed meaningfully to our fiscal 2025 results and continue to perform well, driving higher shipment volumes and strengthening our competitive position in key markets. That said, we are closely monitoring broader macroeconomic conditions which could weigh on customer sentiment and demand. Nevertheless, we remain cautiously optimistic about the 2026 outlook, confident in our long-term strategy, and pleased with our market position."

Reports Q3 revenue $179.9M vs. $145.8M last year. Q3 results include $0.9M in restructuring charges and acquisition-related costs, which collectively reduced net EPS by 3c. "As we had previously indicated, we experienced sourcing challenges during our Q3 related to reduced domestic capacity to produce steel wire rod, our primary raw material," said H.O. Woltz III, CEO. "Reduced domestic supplies of wire rod disrupted our production schedules, extended lead times, and impacted our ability to fully meet customer demand. As we indicated we would do, we turned to international markets to fill the supply gap, which will ease supply constraints moving forward into Q4. Alongside these availability challenges, we experienced sharply escalating wire rod prices in both domestic and international markets. Contributing to the upward pressure on prices was the unexpected decision by the Administration to double the Section 232 tariff on steel imports, which will affect our cost for substantial quantities of offshore purchases and require disciplined pricing strategies moving forward as we seek to recover higher costs in our markets. Despite these challenges, we remain confident in our business outlook. Our recent acquisitions are meaningfully contributing to our performance by enhancing shipment volumes and improving our competitive positioning in certain geographies. We are encouraged that customers generally express optimism about their business prospects, and demand has improved, even as broader macroeconomic indicators for the construction activity suggest a more cautious environment. That said, we are taking proactive steps to manage our costs and remain confident in our long-term competitive positioning."