Insteel Industries Revenue, Net Income & 10-K Summary

Overview

The nation’s largest manufacturer of steel wire reinforcing products for concrete construction.
Primary products are prestressed concrete strand (PC strand) and welded wire reinforcement (WWR), including engineered lines such as ESM, CPR, and SWWR.
Sales focus on manufacturers of concrete products serving nonresidential and residential construction, with additional sales to distributors, rebar fabricators, and contractors.
Operates a single reportable segment.

PC Strand: high-strength, seven-wire strand used to impart compression in pretensioned or posttensioned concrete elements (bridges, parking decks, buildings, etc.).
WWR: produced as standard or engineered products, including:
- ESM: engineered, made-to-order reinforcement
- CPR: engineered, made-to-order reinforcement for concrete pipe and related structures
- SWWR: standard welded wire reinforcement, used as secondary reinforcement for crack control in residential and light nonresidential construction

Fiscal 2026 sales mix: approximately 85% nonresidential construction, 15% residential construction.
Net sales composition: about 70% to manufacturers of concrete products; about 30% to distributors, rebar fabricators, and contractors.
No single customer accounted for 10% or more of net sales in fiscal 2024–2026.

Eleven U.S. manufacturing facilities:
- Dayton, Texas
- Gallatin, Tennessee
- Hazleton, Pennsylvania
- Hickman, Kentucky
- Houston, Texas
- Jacksonville, Florida
- Kingman, Arizona
- Mount Airy, North Carolina (corporate headquarters and IWP sales/administration)
- Sanderson, Florida
- St. Joseph, Missouri
- Upper Sandusky, Ohio
In August 2026 the company announced plans to close the Upper Sandusky facility and consolidate its operations into remaining WWR facilities. Manufacturing at Upper Sandusky is expected to cease in the first quarter of fiscal 2027, with plans to sell the property after closure.

Parent company with two wholly owned subsidiaries:
- Insteel Wire Products Company (IWP) — operating subsidiary
- Intercontinental Metals Corporation — inactive subsidiary

Products marketed through in-house sales representatives trained on technical applications; sales primarily across the U.S., with some sales to Canada, Mexico, and Central/South America.
Shipments are primarily by truck via common or contract carriers.
Firm backlog is minimal due to short lead times; most firm orders at the end of fiscal 2026 were expected to ship in the first quarter of fiscal 2027.
Distribution and pricing follow seasonal and cyclical construction activity, with shipments typically higher in the third and fourth fiscal quarters.

Primary raw material: hot-rolled carbon steel wire rod sourced from domestic and foreign suppliers.
Wire rod prices fluctuate with scrap and other metal prices and broader market conditions.
Foreign purchases represented about 31% of wire rod procurement in fiscal 2026 and about 27% in fiscal 2025.
Buy America/Buy American domestic-content requirements affect the ability to source from overseas for certain applications.
Section 232 steel/aluminum tariffs have applied to steel imports; the company’s materials policy treats PC strand as a derivative product and notes potential impacts from tariffs on costs and pass-through pricing depending on market conditions.

Demand is seasonal and cyclical, tied to construction activity and weather.
Typical pattern: higher shipments and profitability in the third and fourth quarters; lower activity in the first and second quarters.

As of October 3, 2026: 983 employees, all based in the United States.
Approximately 44 employees at the Upper Sandusky facility were represented by a labor union.
The company maintains safety initiatives and performance-based compensation; the collective bargaining agreement for Upper Sandusky employees expires February 28, 2027.

Focuses on achieving leadership positions, operating as the lowest-cost producer, and pursuing growth within core businesses through organic initiatives and strategic acquisitions to deepen market penetration and expand geographic footprint.