Exhibit 99.1 NEWS RELEASE FOR IMMEDIATE RELEASE Contact: Scot Jafroodi Vice President, Chief Financial Officer and Treasurer Insteel Industries Inc. (336) 786-2141 INSTEEL INDUSTRIES REPORTS FOURTH QUARTER AND FISCAL 2024 RESULTS MOUNT AIRY, N.C., October 17, 2024 –– Insteel Industries Inc. (NYSE: IIIN) ("Insteel" or the "Company"), the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications, today announced financial results for its fourth quarter and fiscal ...

Financial Data and Key Metrics Changes - Insteel's net earnings for Q3 2024 decreased to $6.6 million or $0.34 per share, down from $10.6 million or $0.54 per share a year ago [3] - Net sales for the quarter declined 12% to $145.8 million, driven by a 16.3% decrease in average selling prices, partially offset by a 5.1% increase in shipments [3] - Gross profit decreased to $15.4 million from $20.4 million in the prior year quarter, with gross margin narrowing to 10.6% from 12.3% [38] - Cash flow from operations generated $18.7 million, primarily due to net earnings and a reduction in net working capital [5] Business Line Data and Key Metrics Changes - Shipments for the welded wire reinforcement business improved, but backlogs lengthened due to earlier weak order entry and shipments [17] - Average selling prices fell by 5.3% sequentially while shipments rose 20.8%, indicating competitive pricing pressures [37] - SG&A expense remained unchanged at $7.9 million, representing 5.4% of net sales compared to 4.8% a year ago [14] Market Data and Key Metrics Changes - The US Department of Commerce reported a 6.4% increase in total construction spending on a seasonally adjusted annual basis [6] - The Architectural Billings Index (ABI) declined to 42.4, indicating a decrease in billings and a slowdown in new projects [15] - The Dodge Momentum Index rose by 10.4% in June, indicating a 7% year-over-year increase in non-residential building projects entering the planning phase [15] Company Strategy and Development Direction - The company is focused on maximizing shipments and optimizing costs while pursuing growth opportunities both organically and through acquisitions [9] - Capital expenditures for 2024 have been scaled back to approximately $25 million, influenced by investments in new production lines [18] - The company is optimistic about the impact of the Infrastructure Investment and Jobs Act (IIJA) on future demand, despite current challenges [42] Management's Comments on Operating Environment and Future Outlook - Management noted that market conditions are recovering, with expectations for higher operating rates, lower costs, and improved revenue and margins [2] - The company is monitoring substantial risks related to the future performance of the US economy [9] - Management expressed confidence that the investments made will yield returns greater than the cost of capital [81] Other Important Information - The company ended the quarter with $97.7 million in cash and was debt-free, providing financial flexibility [39] - The effective tax rate for the quarter rose to 24.7% from 22% a year ago, largely due to a discrete tax item [14] Q&A Session Summary Question: Will the Infrastructure Act eventually benefit Insteel, and when might that happen? - Management does not expect to see projects clearly labeled as funded by the IIJA, indicating that the impact may not be immediately visible [22][48] Question: How have customers changed project timing in anticipation of interest rate cuts? - Some customers have delayed project starts due to higher costs and financing rates, indicating a cautious approach [27] Question: What is the outlook for residential versus private commercial construction? - The outlook for residential construction appears more bullish compared to private commercial, with potential support from interest rate reductions [26][49] Question: How is the company addressing labor market challenges? - The company is facing difficulties in hiring and retaining qualified workers, which is a common issue across various labor markets [46] Question: How does the company view the impact of potential changes in administration on Section 232 tariffs? - Management believes that the current situation regarding tariffs is a result of a mistake and is optimistic about rectifying it, regardless of the administration in place [70]

Our cash flows and earnings are subject to fluctuations resulting from changes in commodity prices, interest rates and foreign exchange rates. We manage our exposure to these market risks through internally established policies and procedures and, when appropriate, the use of derivative financial instruments. We do not use financial instruments for trading purposes and are not a party to any leveraged derivatives. We monitor our underlying market risk exposures on an ongoing basis and believe we can modify ...

Insteel Industries (IIIN) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items. Insteel Industries shares have lost about 15.8% since the beginning of the year versus the S&P 500's gain of 17.2%. Ahead of this earnings release, the estimate revisions trend for Insteel Industries: unfavorable. While the magnitude and direction of estimate revisio ...

Exhibit 99.1 NEWS RELEASE Third Quarter 2024 Highlights Third Quarter 2024 Results Net earnings for the third quarter of fiscal 2024 decreased to $6.6 million, or $0.34 per share, from $10.6 million, or $0.54 per share, for the same period a year ago. Despite higher shipments, Insteel's third quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs relative to the prior year quarter. FOR IMMEDIATE RELEASE Contact: Scot Jafroodi Vice President, Chief Financi ...

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Investors might want to bet on Insteel Industries (IIIN) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Individua ...

Insteel Industries, Inc. (NYSE:IIIN) Q2 2024 Earnings Conference Call April 25, 2024 10:00 AM ET Company Participants H. Woltz - Chairman, President and Chief Executive Officer Scot Jafroodi - Vice President, Chief Financial Officer and Treasurer Conference Call Participants Julio Romero - Sidoti & Company Tyson Bauer - KC Capital Operator Good morning. Thank you for attending the Insteel Industries’ Second Quarter 2024 Earnings Call. My name is Matt, and I will be your moderator for today’s call. [Operator ...