INSTEEL INDUSTRIES INC

For the period ended Oct 22, 2026. Filed Oct 22, 2026.

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Oct 22, 2026 · Filed Oct 22, 2026

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IIIN$26.74-0.7%Stored close · as of Nov 6, 2026

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Contents

EX-99.1 · Cautionary Note Regarding Forward-Looking Statements

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words “believes,” “anticipates,” “expects,” “estimates,” “appears,” “plans,” “intends,” “may,” “should,” “could” and similar expressions are intended to identify forward-looking statements.** **Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, they are subject to several risks and uncertainties, and we can provide no assurances that such plans, intentions or expectations will be implemented or achieved. Many of these risks and uncertainties are discussed in detail in our Annual Report on Form 10-K for the year ended September 27, 2025 and may be updated from time to time in our other filings with the U.S. Securities and Exchange Commission (the “SEC”).

All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements speak only to the respective dates on which such statements are made, and we do not undertake any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law.

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It is not possible to anticipate and list all risks and uncertainties that may affect our business, future operations or financial performance; however, they include, but are not limited to, the following: general economic and competitive conditions in the markets in which we operate, including uncertainty over global trade policies and the financial impact of related tariffs and retaliatory tariffs; geopolitical tensions and military conflicts could increase energy and transportation costs, disrupt our supply chain and limit the availability of raw materials; changes in the spending levels for nonresidential and residential construction and the impact on demand for our products; changes in the amount and duration of transportation funding provided by federal, state and local governments and the impact on spending for infrastructure construction and demand for our products; the cyclical nature of the steel and building material industries; credit market conditions and the relative availability of financing for us, our customers and the construction industry as a whole; the impact of rising interest rates on the cost of financing for our customers; fluctuations in the cost and availability of our primary raw material, hot-rolled carbon steel wire rod from domestic and foreign suppliers; competitive pricing pressures and our ability to raise selling prices in order to recover increases in raw material or operating costs; changes in United States or foreign trade policy affecting imports or exports of steel wire rod or our products; unanticipated changes in customer demand, order patterns and inventory levels; the impact of fluctuations in demand and capacity utilization levels on our unit manufacturing costs; our ability to further develop the market for ESM and expand our shipments of ESM; legal, environmental, economic or regulatory developments that significantly impact our business or operating costs; unanticipated plant outages, equipment failures or labor difficulties; the impact of cybersecurity breaches and data leaks; and the “Risk Factors” discussed in our Annual Report on Form 10-K for the year ended September 27, 2025, and in other filings made by us with the SEC.

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INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands except for per share data)

· · Three Months Ended · · · Year Ended ·
· · (Unaudited) · · · (Unaudited) · · · (Unaudited) · · · · ·
· · October 3, · · · September 27, · · · October 3, · · · September 27, ·
· · 2026 · · · 2025 · · · 2026 · · · 2025 ·

Net sales	$209,278	$177,444	$739,514	$647,706
Cost of sales	188,253	148,836	663,832	554,268
Gross profit	21,025	28,608	75,682	93,438
Selling, general and administrative expense	10,370	9,708	37,358	39,002
Restructuring charges, net	705	103	756	2,304
Acquisition costs	-	-	-	325
Other expense, net	3	29	88	17
Interest expense	15	12	63	52
Interest income	(253)	(493)	(872)	(2,067)
Earnings before income taxes	10,185	19,249	38,289	53,805
Income taxes	2,467	4,699	8,742	12,785
Net earnings	$7,718	$14,550	$29,547	$41,020


Net earnings per share:
Basic	$0.40	$0.75	$1.52	$2.11
Diluted	0.40	0.74	1.51	2.10

Weighted average shares outstanding:
Basic	19,428	19,481	19,458	19,484
Diluted	19,481	19,599	19,522	19,558

Cash dividends declared per share	$0.03	$0.03	$1.12	$1.12

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INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands)

· · (Unaudited) · · · · ·
· · October 3, · · · June 27, · · · September 27, ·
· · 2026 · · · 2026 · · · 2025 ·
Assets
Current assets:
Cash and cash equivalents	$37,480	$22,947	$38,630
Accounts receivable, net	89,293	80,687	78,719
Inventories	150,831	166,924	137,776
Other current assets	8,650	8,293	6,822
Total current assets	286,254	278,851	261,947
Property, plant and equipment, net	124,224	124,348	128,691
Intangibles, net	14,928	15,351	16,553
Goodwill	37,755	37,755	37,755
Other assets	17,230	17,637	17,704
Total assets	$480,391	$473,942	$462,650

Liabilities and shareholders' equity
Current liabilities:
Accounts payable	$62,465	$65,485	$48,173
Accrued expenses	14,447	12,632	17,836
Total current liabilities	76,912	78,117	66,009
Other liabilities	23,873	24,425	25,109
Commitments and contingencies
Shareholders' equity:
Common stock	19,358	19,358	19,420
Additional paid-in capital	91,819	90,780	89,402
Retained earnings	268,063	261,298	262,746
Accumulated other comprehensive income (loss)	366	(36)	(36)
Total shareholders' equity	379,606	371,400	371,532
Total liabilities and shareholders' equity	$480,391	$473,942	$462,650

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INSTEEL INDUSTRIES INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

· · Three Months Ended · · · Year Ended ·
· · (Unaudited) · · · (Unaudited) · · · (Unaudited) · · · · ·
· · October 3, · · · September 27, · · · October 3, · · · September 27, ·
· · 2026 · · · 2025 · · · 2026 · · · 2025 ·
Cash Flows From Operating Activities:
Net earnings		$7,718		$14,550	$29,547		$41,020
Adjustments to reconcile net earnings to net cash provided by (used for) operating activities:
Depreciation and amortization		4,388		4,664	17,735		18,390
Amortization of capitalized financing costs		13		12	51		50
Stock-based compensation expense		1,336		1,374	3,489		3,489
Deferred income taxes		(153)		(207)	(223)		(748)
Asset impairment charges		-		-	-		1,001
Loss on sale and disposition of property, plant and equipment		11		41	81		127
Increase in cash surrender value of life insurance policies over premiums paid		-		(300)	(410)		(452)
Net changes in assets and liabilities (net of assets and liabilities acquired):
Accounts receivable, net		(8,606)		4,545	(10,574)		(20,411)
Inventories		16,093		(18,605)	(13,055)		(36,466)
Accounts payable and accrued expenses		(2,863)		(23,352)	10,795		19,260
Other changes		296		271	(809)		1,903
Total adjustments		10,515		(31,557)	7,080		(13,857)
Net cash provided by (used for) operating activities		18,233		(17,007)	36,627		27,163

Cash Flows From Investing Activities:
Acquisition of businesses		-		(33)	-		(72,089)
Capital expenditures		(2,729)		(1,723)	(11,788)		(8,213)
Decrease (increase) in cash surrender value of life insurance policies		262		(110)	(645)		(581)
Proceeds from sale of assets held for sale		-		4,954	-		5,011
Proceeds from sale of property, plant and equipment		4		8	4		107
Proceeds from surrender of life insurances policies		-		41	3		91
Net cash (used for) provided by investing activities		(2,463)		3,137	(12,426)		(75,674)

Cash Flows From Financing Activities:
Proceeds from long-term debt		90		68	18,495		291
Principal payments on long-term debt		(90)		(68)	(18,495)		(291)
Cash dividends paid		(581)		(583)	(21,723)		(21,761)
Cash received from exercise of stock options		-		-	-		62
Payment of employee tax withholdings related to net share transactions		(199)		(275)	(477)		(425)
Repurchases of common stock		(457)		(307)	(3,151)		(2,273)
Net cash used for financing activities		(1,237)		(1,165)	(25,351)		(24,397)

Net increase (decrease) in cash and cash equivalents		14,533		(15,035)	(1,150)		(72,908)
Cash and cash equivalents at beginning of period		22,947		53,665	38,630		111,538
Cash and cash equivalents at end of period		$37,480		$38,630	$37,480		$38,630

Supplemental Disclosures of Cash Flow Information:
Cash paid during the period for:
Interest	$	-	$	-	$11	$	-
Non-cash investing and financing activities:
Purchases of property, plant and equipment in accounts payable		1,489		1,549	1,489		1,549
Restricted stock units and stock options surrendered for withholding taxes payable		199		275	477		425

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