IIIN — what changed in the latest 10-K
A section-by-section comparison of IIIN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-K · 2026-10-29 vs the prior 10-K · 2025-10-23
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| Business | Text added/removed | +3 | −5 | ~10 | 16 |
| Risk factors | Text added/removed | +12 | −10 | ~9 | 27 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| MD&A | Text added/removed | +13 | −12 | ~14 | 14 |
| Market risk (Item 7A) | Text added/removed | 0 | 0 | ~3 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
Business
Text added vs the prior filing · source: 10-K · 2026-10-29
In August 2026, we announced plans to close our Upper Sandusky, Ohio manufacturing facility and consolidate its operations into our remaining WWR facilities. The consolidation is intended to improve the operating efficiency and cost competitiveness of our WWR business. We expect to cease manufacturi…
As of October 3, 2026, we had 983 employees, all of whom are located in the United States, including approximately 44 employees at our Upper Sandusky facility who were represented by a labor union. In August 2026, we announced plans to close the Upper Sandusky facility and consolidate its operations…
Our performance-based compensation system incentivizes our workforce and reinforces our culture. Insteel employees typically earn a significant part of their compensation based on productivity and our financial performance. Our production and skilled trades team members have the opportunity to earn …
Text removed vs the prior filing · source: 10-K · 2025-10-23
On October 21, 2024, we, through our wholly-owned subsidiary, IWP, purchased substantially all of the assets, other than cash and accounts receivable, of Engineered Wire Products, Inc. (“EWP”) and certain related assets of Liberty Steel Georgetown, Inc. (“LSG”) for an adjusted purchase price of $67.…
On November 26, 2024, we, through our wholly-owned subsidiary, IWP, purchased certain assets of O’Brien Wire Products of Texas, Inc. (“OWP”) for a purchase price of $5.1 million (the “OWP Acquisition”). OWP was a manufacturer of WWR products for use in nonresidential and residential construction. We…
As of September 27, 2025, we had 1,007 employees, all of whom are located in the United States and approximately 60 of whom are represented by a labor union. We have a collective bargaining agreement in place with the union that expires on February 28, 2027. In the event of production disruptions, w…
● Severity Rate – Days Away, Restricted, and Transferred (DART)
Our performance-based compensation system incentivizes our workforce and reinforces our culture. Insteel employees typically earn a significant part of their compensation based on productivity. Our production and skilled trades team members have the opportunity to earn pay increases through our “Pay…
Risk factors
Text added vs the prior filing · source: 10-K · 2026-10-29
U.S. trade policy remains subject to change. Modifications to tariff rates, product or country coverage, exemptions, enforcement policies or other trade restrictions, as well as retaliatory measures by other countries, could affect our sourcing, costs, selling prices, competitive position and end-ma…
Our labor, medical and workers’ compensation costs have increased in recent years and may continue to rise. Because we self-insure certain employee healthcare and workers’ compensation obligations, increases in healthcare costs, claim frequency or severity, regulatory requirements or other employee-…
Persistent inflationary trends have led to increased costs across key operational inputs, including labor, energy, freight, operating supplies and raw materials. Although we seek to recover these increases through higher selling prices, competitive conditions and the level of customer demand may lim…
The physical effects of climate change, including more frequent or severe storms, flooding, extreme temperatures and other weather-related events, could damage our facilities or inventories, disrupt our operations or supply chain, interrupt utility or transportation services and increase insurance a…
Changes in laws, regulations, technologies and business practices intended to address climate change could also increase the cost of raw materials, energy, transportation, equipment and other operating inputs or require additional capital expenditures. We use natural gas, diesel fuel, gasoline and e…
Text removed vs the prior filing · source: 10-K · 2025-10-23
U.S. trade policy remains uncertain, and future changes to tariffs rates, coverage or enforcement could further impact our sourcing, pricing and end-market demand. The scope, duration and economic effects of these policies are unpredictable and cannot be mitigated through planning.
Adverse global economic conditions could have a negative effect on our business, results of operations and financial condition and liquidity.
Sustained uncertainty about, or worsening of, current global economic conditions and further tariffs and escalations of tensions between the U.S. and its trading partners could result in a global economic slowdown and long-term changes to global trade. Such events may also cause customers and end-us…
Persistent inflationary trends have led to increased costs across key operational inputs, including labor, energy, operating supplies and raw materials. If we are unable to pass these increases in costs to our customers it could adversely affect our business, financial condition and results of opera…
The long-term effects of global climate change could present both physical risks and transition risks (such as regulatory or technology changes), which are expected to be widespread and unpredictable. These changes could over time affect, for example, the availability and cost of raw materials, comm…
MD&A
Text added vs the prior filing · source: 10-K · 2026-10-29
In August 2026, we announced plans to close our Upper Sandusky, Ohio manufacturing facility and consolidate its operations into our remaining WWR facilities. The consolidation is intended to improve the operating efficiency and cost competitiveness of our WWR business. We expect to cease manufacturi…
The table below presents a summary of our results of operations for fiscal 2026 and fiscal 2025. Fiscal year 2026 was a 53-week period, and fiscal year 2025 was a 52-week period.
Net sales increased 14.2% to $739.5 million in 2026 from $647.7 million in 2025 reflecting an 11.5% rise in average selling prices and a 2.4% increase in shipments. The increase in average selling prices was driven by pricing actions implemented to recover higher raw material, freight and operating …
Selling, general and administrative expense (“SG&A expense”) decreased 4.2% to $37.4 million, or 5.1% of net sales, in 2026 from $39.0 million, or 6.0% of net sales, in 2025 primarily due to lower compensation expense ($3.1 million) partially offset by higher legal ($782,000) and employee benefits (…
We incurred restructuring charges in 2026 and 2025 related to separate initiatives to consolidate our WWR operations. The first initiative, announced in 2025, included the closure of our Warren, Ohio facility. A further consolidation initiative, announced in 2026, included the closure of our Upper S…
Text removed vs the prior filing · source: 10-K · 2025-10-23
On October 21, 2024, we, through our wholly-owned subsidiary, IWP, purchased substantially all of the assets, other than cash and accounts receivable, of EWP and certain related assets of LSG for an adjusted purchase price of $67.0 million. EWP was a leading manufacturer of WWR products for use in n…
On November 26, 2024, we, through our wholly-owned subsidiary, IWP, purchased certain assets of OWP for a purchase price of $5.1 million. OWP was a manufacturer of WWR products for use in nonresidential and residential construction. We acquired certain of OWP’s inventories and all of OWP’s productio…
The table below presents a summary of our results of operations for fiscal 2025 and fiscal 2024.
Net sales increased 22.4% to $647.7 million in 2025 from $529.2 million in 2024 reflecting a 14.8% increase in shipments and a 6.7% rise in average selling prices. The increase in shipments was primarily due to incremental volume generated from our acquisitions completed earlier in the year and impr…
Selling, general and administrative expense (“SG&A expense”) increased 31.8% to $39.0 million, or 6.0% of net sales, in 2025 from $29.6 million, or 5.6% of net sales, in 2024 primarily due to higher compensation expense ($6.4 million), an increase in amortization expense associated with intangible a…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice