Insteel Industries Inc. reported a significant increase in financial performance for the fiscal year ending September 27, 2025, with net sales rising by 22.4% to $647.7 million, compared to $529.2 million in the previous year. This growth was driven by a 14.8% increase in shipments and a 6.7% rise in average selling prices, attributed to improved demand in construction markets and strategic pricing actions to offset higher raw material costs. Gross profit also saw a substantial increase of 88.3%, reaching $93.4 million, or 14.4% of net sales, up from $49.6 million, or 9.4% of net sales, in 2024.
The company undertook two significant acquisitions during the fiscal year, purchasing the assets of Engineered Wire Products, Inc. for $67.0 million and O’Brien Wire Products of Texas, Inc. for $5.1 million. These acquisitions are expected to enhance Insteel's competitive position and expand its geographic footprint, particularly in the Midwest and Texas markets. Following the acquisition of Engineered Wire Products, Insteel consolidated its welded wire reinforcement operations, resulting in the closure of the Warren, Ohio facility and the relocation of equipment to existing facilities.
Operationally, Insteel reported a total employee count of 1,007 as of September 27, 2025, with approximately 60 employees represented by a labor union. The company’s customer base remains diverse, with no single customer accounting for more than 10% of net sales. The company also noted a minimal backlog due to short lead times, indicating that most orders are expected to be fulfilled in the first quarter of fiscal 2026.
Looking ahead, Insteel expressed a cautiously optimistic outlook for fiscal 2026, supported by operational improvements and contributions from recent acquisitions. The company anticipates continued strong demand in public nonresidential construction, bolstered by federal investments under the Infrastructure Investment and Jobs Act. However, it remains vigilant regarding broader macroeconomic conditions that could impact customer sentiment and demand. Insteel plans to focus on disciplined expense management and capturing synergies from its acquisitions to optimize operational efficiency and drive future growth.
About INSTEEL INDUSTRIES INC
Insteel Industries Inc. is a leading U.S. manufacturer of steel wire reinforcing products for concrete construction, including prestressed strand and welded wire reinforcement. Serving primarily nonresidential and residential markets, it offers engineered and standard reinforcement solutions. The company emphasizes market leadership, cost efficiency, and organic and strategic growth, operating multiple facilities and serving a broad customer base in construction and infrastructure sectors.
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