Filing Flows › Insteel Industries (IIIN) › Q2 FY25
Insteel Industries (IIIN) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Apr 17, 2025
Insteel Industries (IIIN) reported revenue of $161M for the second quarter fiscal 2025 (Q2 FY25), +26% from a year earlier and +24% from the quarter before. Operating margin was 8.3%, net earnings $10.2M (6.4% of revenue).
Insteel Industries, Q2 FY25: revenue $161M (+26% year over year), operating margin 8.3%, net earnings $10.2M, operating cash flow −$3.3M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $161M | +24% | +26% |
| Gross profit | $24.5M | +157% | +56% |
| Operating profit | $13.3M | +811% | +49% |
| Net earnings | $10.2M | +846% | +47% |
| Operating cash flow | −$3.3M | — | — |
What changed
Revenue was $160.7M in Q2 FY25, up 26% year over year and up 24% from the previous quarter. Welded Wire Reinforcement was the largest line at 62% of revenue. Welded Wire Reinforcement added $30.3M year over year (up 43%), 91% of the total change.
Gross margin was 15.3%, up 2.9 points from a year earlier. Operating profit was $13.3M, a 8.3% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 13% reached operating profit, above the 7% margin then. Operating expenses grew 66% against revenue growth of 26%. Net earnings were $10.2M, up 47% year over year. The effective tax rate was 23.2%.
Operating cash flow was −$3.3M. Non-cash charges added back $4.6M of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items used $19.5M. Capital expenditures of $2.2M exceeded it, leaving free cash flow of −$5.5M.
Questions
What was Insteel Industries' revenue in the second quarter fiscal 2025?
Insteel Industries (IIIN) reported revenue of $161M for the second quarter fiscal 2025 (Q2 FY25), +26% from a year earlier and +24% from the quarter before.
Was Insteel Industries profitable in the second quarter fiscal 2025?
Operating profit was $13.3M (8.3% of revenue) and net earnings $10.2M.
Source: Insteel Industries 10-Q on SEC EDGAR.