Welcome to our dedicated page for Flexsteel Industries news (Ticker: FLXS), a resource for investors and traders seeking the latest updates and insights on Flexsteel Industries stock.
Flexsteel Industries, Inc., incorporated in 1929, stands as one of the oldest and largest manufacturers, importers, and marketers of residential and commercial upholstered and wooden furniture products in the United States. The company's comprehensive product offerings include sofas, loveseats, chairs, reclining and rocker reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture.
Flexsteel products are designed for use in various settings, including homes, offices, hotels, and other commercial environments. A notable feature of most of their upholstered furniture is a unique steel drop-in seat spring, which has become a hallmark of durability and quality, and is the inspiration for the company’s name “Flexsteel.”
The company distributes its products across the United States through its sales force and independent representatives. Their extensive distribution network ensures that Flexsteel's high-quality furniture is available nationwide.
In addition to its main operations, Flexsteel has a wholly-owned subsidiary, DMI Furniture, Inc. (“DMI”), which extends the company's market reach and product diversity. Flexsteel’s furniture portfolio not only serves residential needs but also caters to office, healthcare, and other contract applications, demonstrating the company’s versatility and commitment to meeting a wide range of consumer demands.
Flexsteel Industries is recognized for its Blue Steel Spring technology, which ensures the longevity and comfort of their upholstered furniture. This innovation has solidified the company's reputation for producing high-quality, durable furniture that stands the test of time.
Financially, Flexsteel has maintained a stable position within the market, continually adapting to industry trends and consumer preferences. The company constantly explores new projects and partnerships to enhance its product offerings and expand its market presence.
Flexsteel Industries (NASDAQ:FLXS) reported a second-quarter fiscal 2022 net sales increase of 18.9% to $141.7 million, up from $119.1 million a year ago. However, it faced a net loss of $7.5 million or ($1.13) per diluted share, compared to a profit of $8.5 million or $1.13 per share in the prior year. The company's gross margin decreased significantly to 6.7% from 20.5% due to high logistics costs and supply chain disruptions. Flexsteel aims for sales growth of 14% to 22% in the upcoming quarter, while managing ongoing cost challenges.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced it will release its Q2 2022 financial results after market close on
Flexsteel, one of the largest furniture manufacturers in the U.S., offers a wide range of products, including sofas, chairs, and bedroom furniture.
Flexsteel Industries, Inc. (NASDAQ:FLXS) has appointed M. Scott Culbreth as an independent director, effective December 21, 2021. Culbreth brings extensive experience in finance and management from sectors like consumer goods and automotive. Previously CEO at American Woodmark, he has held key positions at Shell and Robert Bosch Corporation. Flexsteel's leadership expresses confidence in his ability to enhance organizational growth and shareholder value, highlighting his skills in finance and innovation.
Flexsteel Industries (NASDAQ: FLXS) reports strong sales growth for the fiscal second quarter of 2022, raising revenue guidance to $137-$143 million, marking a year-over-year increase of 17.5%. However, supply chain disruptions are leading to unforeseen ancillary costs, expected to exceed $10 million in Q2, resulting in an anticipated operating loss. Despite these challenges, CEO Jerry Dittmer expresses confidence in the company’s long-term growth strategy, projecting a return to profitability in the latter half of fiscal 2022.
Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend of $0.15 per share, payable on January 3, 2022, to shareholders of record as of December 22, 2021. This marks the 320th consecutive quarterly cash dividend that the company has paid since 1938, highlighting its commitment to returning value to shareholders. Flexsteel is a major player in the U.S. furniture market, providing a diverse range of products from sofas to dining tables. The company's longevity in dividend payments reflects its strength and stability in the market.
Flexsteel Industries, Inc. (NASDAQ:FLXS) reported strong financial results for the first quarter of fiscal 2022, with net sales increasing by 30.8% to $137.7 million, compared to $105.2 million in the prior year. The company announced a net income of $4.35 million or $0.61 per diluted share, up from $3.89 million or $0.49 in the same quarter last year. Despite these gains, gross margins fell to 17.0% from 21.7%, primarily due to ongoing supply chain challenges and increased costs. Flexsteel plans to expand capacity to meet growing demand and address inventory levels.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced it will release its first quarter 2022 financial results on October 25, 2021, post-market. A conference call is scheduled for October 26, 2021, at 8:00 a.m. Central Time to discuss these results. Investors can access the earnings release via the company’s investor relations website at ir.flexsteel.com. Flexsteel is a leading manufacturer and online marketer of furniture in the U.S., offering a diverse range of products including sofas, chairs, and tables.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend of $0.15 per share, payable on October 4, 2021, to shareholders of record as of September 22, 2021. This marks the 319th consecutive quarterly cash dividend, highlighting the company's long-standing commitment to returning value to shareholders since 1938. Flexsteel, a major player in the U.S. furniture industry, manufactures and markets a vast range of products including sofas and chairs, primarily through eCommerce and direct sales channels.
Flexsteel Industries reported a strong Q4 for fiscal 2021, achieving net sales of $136.2 million, a 110% increase from the previous year. For the full year, net sales rose 30.5% to $478.9 million. The company noted a record retail backlog of $152 million, a 238.3% increase year-over-year. Gross margin improved significantly to 19.4% in Q4, compared to 9.2% a year earlier. Flexsteel reported net income of $5.8 million ($0.81 per share) for the quarter, reversing a net loss of $25.7 million in the prior year. Management expressed confidence in continued growth despite ongoing supply chain challenges.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will announce its fourth quarter 2021 financial results after market close on August 23, 2021. An earnings conference call is scheduled for August 24, 2021, at 8:00 a.m. Central Time, where analysts and investors can discuss the results. For convenience, pre-registration for the call is available to streamline participation. Flexsteel is prominent in the U.S. furniture market, offering diverse products through eCommerce and direct sales.
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