Welcome to our dedicated page for Flexsteel Inds news (Ticker: FLXS), a resource for investors and traders seeking the latest updates and insights on Flexsteel Inds stock.
Flexsteel Industries Inc (FLXS) delivers innovative furniture solutions for residential and commercial markets through nine decades of manufacturing expertise. This news hub provides investors and industry professionals with centralized access to all official corporate announcements and market developments.
Track earnings reports, leadership updates, product innovations, and strategic partnerships through verified press releases. Our curated collection enables analysis of operational trends while maintaining compliance with financial disclosure standards.
Key content includes quarterly financial results, manufacturing expansions, design patent filings, and distribution network updates. Bookmark this page for real-time notifications about material developments affecting FLXS market position and operational strategy.
Flexsteel Industries, Inc. (NASDAQ:FLXS) has declared a quarterly dividend of $0.15 per share, payable on January 9, 2023, to shareholders of record as of December 28, 2022. This marks the 324th consecutive quarterly cash dividend, highlighting the company's commitment to returning value to its shareholders. Flexsteel has a long-standing tradition of paying dividends since 1938, reflecting its stability in the residential furniture market.
Flexsteel Industries (NASDAQ:FLXS) reported a challenging first quarter of fiscal 2023, with net sales declining by 30.5% to $95.7 million compared to $137.7 million from the prior year. Gross margins also decreased to 16.0% from 17.0%. Net income dropped to $0.05 per diluted share, down from $0.61. Despite these results, the company exceeded its sales guidance of $80-$90 million and sees potential in new product launches. Financial agility remains a priority amidst economic headwinds.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced it will release its first quarter 2023 financial results after market close on
Flexsteel Industries (NASDAQ:FLXS) has appointed Jeanne McGovern to its board of directors effective September 30, 2022. With 40 years of experience in audit and advisory roles, McGovern will bring valuable insights in corporate governance and strategic business transformations to the company. Long-time board member Eric S. Rangen is set to retire after the December 2022 meeting, marking a significant transition. McGovern, previously a partner at Deloitte & Touche, has extensive experience in financial reporting and risk management, positioning her as an asset in driving shareholder value.
Flexsteel Industries declared a quarterly dividend of $0.15 per share, payable on October 10, 2022, to shareholders of record as of September 28, 2022. This marks the 323rd consecutive quarterly cash dividend, highlighting the company's long-standing commitment to returning value to shareholders since 1938. Flexsteel is a major player in the U.S. residential furniture market, offering a diverse range of products including sofas, chairs, and outdoor furniture through e-commerce and direct sales channels.
Flexsteel Industries, Inc. (NASDAQ: FLXS) has decisively rejected an unsolicited acquisition proposal from CSC Generation Holdings, Inc. to purchase the company for $20.80 per share, deeming it significantly undervalued. Chairman Thomas M. Levine emphasized that the proposal does not serve the interests of shareholders. The management remains focused on executing a strategic growth plan that leverages recent record sales, enhances supply chain capabilities, and invests in new product development. Flexsteel aims to navigate macroeconomic challenges and expand its market presence while generating strong free cash flow.
Flexsteel Industries, Inc. (NASDAQ: FLXS) has received an unsolicited preliminary non-binding acquisition proposal from CSC Generation Holdings, Inc. for $20.80 per share in cash. Flexsteel had no prior engagement with CSC Generation regarding this proposal. The Flexsteel Board of Directors will review the proposal with its financial and legal advisors to ensure it is in the best interest of the company and its shareholders. Shareholders need not take any action at this time, and further comments will be made post-review.
CSC Generation Holdings, Inc. has proposed an all-cash acquisition of Flexsteel Industries, Inc. at a price of $20.80 per share, representing a 22% premium over Flexsteel's last closing price of $17.10. CSC, a significant shareholder, believes the acquisition will optimize Flexsteel's performance and offer immediate liquidity for shareholders. The transaction, which CSC can fully fund, aims to transform Flexsteel into a digitally-focused brand. The proposal is contingent on board and shareholder approvals, among other conditions.
Flexsteel Industries, Inc. (NASDAQ: FLXS) reported fourth quarter results for fiscal 2022, showing a net sales decline of 8.6% to $124.5 million compared to $136.2 million in the prior year. Despite this, full-year sales rose 13.6% to $544.3 million. Gross margins fell to 14.2% for the quarter and 13.4% for the year, down from 19.4% and 20.2% respectively. The company reported a GAAP net loss of ($0.05) per share for Q4 and net income of $0.28 for the year, down from $0.81 per share last year. Flexsteel continues to navigate economic challenges while focusing on growth strategies.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will announce its fourth quarter 2022 financial results after market close on August 22, 2022. A conference call and audio webcast is scheduled for August 23, 2022, at 8:00 a.m. Central Time to discuss the results with analysts and investors. Interested participants can join the call at 866-777-2509 (domestic) or 412-317-5413 (international). The earnings release will be accessible on the company’s investor relations page at ir.flexsteel.com.
