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) declared a quarterly dividend of $0.15 per share, payable on July 11, 2022, to shareholders of record as of June 29, 2022. This marks the 322nd consecutive quarterly cash dividend, showcasing a strong commitment to returning value to shareholders. Flexsteel has maintained cash dividends since 1938, reflecting its established presence in the furniture industry.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced the appointment of Alejandro Huerta as Chief Financial Officer, Treasurer & Secretary, effective June 1, 2022. Huerta has over 18 years of financial leadership experience, having previously served as CFO for Tucker Powersports, where he led significant business turnarounds. Additionally, Derek P. Schmidt will expand his role as Chief Operating Officer. CEO Jerry Dittmer expressed confidence in Huerta's ability to drive profitable growth and enhance value for shareholders.
Flexsteel Industries, Inc. (NASDAQ:FLXS) will present at the Sidoti & Company LLC Microcap Virtual Investor Conference on May 11, 2022, at 1:45 p.m. Eastern Time. The event will feature CEO Jerry Dittmer and CFO Derek Schmidt, and the presentation will be webcast live, available for 90 days post-event. Interested parties can register and view the webcast at here. Additionally, an updated investor presentation detailing the company’s business model, growth strategies, and financial objectives has been posted on their website.
Flexsteel Industries (NASDAQ:FLXS) reported an 18.6% increase in net sales to $140.4 million for Q3 fiscal 2022, compared to $118.4 million a year prior. Net income rose to $5.3 million, or $0.82 per diluted share, up from $4.9 million, or $0.67 per diluted share, in Q3 2021. However, gross margin fell to 15.7% from 19.5%, primarily due to supply chain disruptions and inflationary pressures. The company reduced bank borrowings by $18.1 million and executed share repurchases of $18.3 million, reducing outstanding shares by 13.7%.
Flexsteel Industries, Inc. (NASDAQ: FLXS) announced that it will release its third quarter 2022 financial results on April 25, 2022, after market close. A conference call is scheduled for April 26, 2022, at 8:00 a.m. Central Time to discuss the results. The earnings release will be accessible on their investor relations website. Flexsteel is a leading manufacturer, importer, and online marketer of furniture products in the U.S., offering various items including sofas, chairs, and tables through eCommerce and direct sales.
Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend of $0.15 per share, payable on April 4, 2022, to shareholders of record by March 23, 2022. This marks the 321st consecutive quarterly cash dividend since the company began paying dividends in 1938. Flexsteel is a major manufacturer and marketer of various furniture products in the U.S., known for its innovative steel drop-in seat spring technology.
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.
