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Flexible Solutions International, Inc. (FSI) announces first quarter 2024 revenue results, with a slight decrease of approximately 6% compared to the same period in 2023. The company also declares a ten cent special dividend to be paid to shareholders in May 2024. Sales in Q1 were lower than the previous year but showed improvement compared to the previous quarter and the overall year of 2023. The company remains optimistic about future growth and continues to focus on both company growth and shareholder dividends.
Flexible Solutions International, Inc. (FSI) annuncia i risultati dei ricavi del primo trimestre 2024, con una leggera diminuzione del circa 6% rispetto allo stesso periodo del 2023. La società dichiara inoltre un dividendo speciale di dieci centesimi che sarà pagato agli azionisti nel maggio 2024. Le vendite nel primo trimestre sono state inferiori rispetto all'anno precedente ma hanno mostrato miglioramenti rispetto al trimestre precedente e all'anno complessivo del 2023. L'azienda rimane ottimista riguardo alla crescita futura e continua a concentrarsi sia sulla crescita dell'azienda che sui dividendi agli azionisti.
Flexible Solutions International, Inc. (FSI) anuncia los resultados de ingresos del primer trimestre de 2024, con una ligera disminución de aproximadamente el 6% en comparación con el mismo período de 2023. La compañía también declara un dividendo especial de diez centavos que se pagará a los accionistas en mayo de 2024. Las ventas en el primer trimestre fueron inferiores al año anterior, pero mostraron una mejora en comparación con el trimestre anterior y el año total de 2023. La empresa sigue siendo optimista sobre el crecimiento futuro y continúa enfocándose tanto en el crecimiento de la empresa como en los dividendos a los accionistas.
Flexible Solutions International, Inc. (FSI)는 2024년 1분기 매출 결과를 발표했습니다. 이는 2023년 같은 기간에 비해 약 6% 감소한 것입니다. 회사는 또한 2024년 5월에 주주들에게 지급될 10센트의 특별 배당금을 선언했습니다. 1분기의 매출은 전년 대비 낮았지만 전분기 및 2023년 전체에 비해 개선되었습니다. 회사는 미래의 성장에 대해 낙관적이며 회사 성장과 주주 배당에 계속 집중하고 있습니다.
Flexible Solutions International, Inc. (FSI) annonce les résultats des revenus du premier trimestre 2024, avec une légère baisse d'environ 6% par rapport à la même période en 2023. La société déclare également un dividende spécial de dix cents qui sera versé aux actionnaires en mai 2024. Les ventes au premier trimestre étaient inférieures à l'année précédente mais ont montré une amélioration par rapport au trimestre précédent et à l'année globale de 2023. L'entreprise reste optimiste quant à la croissance future et continue de se concentrer à la fois sur la croissance de l'entreprise et sur les dividendes aux actionnaires.
Flexible Solutions International, Inc. (FSI) gibt die Umsatzergebnisse für das erste Quartal 2024 bekannt, mit einem leichten Rückgang von ungefähr 6% im Vergleich zum selben Zeitraum in 2023. Das Unternehmen kündigt zudem eine Sonderdividende von zehn Cent an, die im Mai 2024 an die Aktionäre gezahlt wird. Die Verkäufe im ersten Quartal waren niedriger als im Vorjahr, zeigten jedoch eine Verbesserung im Vergleich zum vorherigen Quartal und zum gesamten Jahr 2023. Das Unternehmen bleibt optimistisch hinsichtlich zukünftigen Wachstums und konzentriert sich weiterhin sowohl auf das Wachstum des Unternehmens als auch auf die Dividenden für die Aktionäre.
Positive
FSI reports a 6% decrease in top line revenue for Q1 2024 compared to Q1 2023.
The company declares a special dividend of ten cents per share to be paid in May 2024.
Sales in Q1 2024 were lower than the previous year but improved compared to Q4 2023 and 2023 as a whole.
Company management remains focused on growing the business and balancing dividends to shareholders.
Complete financial results will be available on May 15, 2024, with a conference call scheduled for May 16, 2024.
Negative
None.
Insights
FSI's top line revenue decline of roughly 6% year over year prompts a close examination of their revenue-generating capabilities. A dividend, especially a special dividend, typically indicates a company's confidence in its liquidity and profitability. However, given the revenue decline, this payout might be a strategy to retain investor interest, rather than a signal of underlying financial strength. It is important to understand the sustainability of such dividends in light of the company's long-term capital needs and growth strategy.
The company operates in sectors highly sensitive to both regulatory changes and commodity prices, particularly oil extraction and water treatment. The slight decrease in sales suggests a potential softening in market demand or increased competition. Investors would benefit from scrutinizing the company's market position, R&D focus and any strategic pivots that align with industry trends towards sustainability and innovation. The industry's trajectory towards biodegradable products could offer growth opportunities if FSI is ahead of the curve in this niche.
The Company also Announces a Ten Cent Special Dividend to be Paid May 16 2024 to Shareholders of Record on April 30 2024
VICTORIA, BRITISH COLUMBIA, April 23, 2024 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE- AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. Today the Company announces top line revenue for first quarter (Q1), 2024.The Company is also pleased to announce payment of a special dividend.
Sales were slightly lower in Q1, 2024 compared to Q1, 2023. Flexible Solutions’ top line revenue decreased from $9.848 million (Q1, 2023) to $9.224 million (Q1, 2024), down approximately 6% year over year.
Mr. Dan O'Brien states, "We are pleased that our current financial condition allows us to dividend profits to shareholders. However, this is a special dividend; not a regular dividend.” Mr. O’Brien continues, “The FSI Board and management will continue to monitor retained earnings and capital needs with the goals of both growing the Company and declaring dividends when appropriate." Mr. O’Brien continues, “the sales in Q1, while lower than the year earlier period, were down much less than either Q4 2023 or 2023 as a whole. We are optimistic that this positive trend toward top line growth will continue.”
Complete financial results will be available on Wednesday, May 15, 2024 concurrent with the Company’s SEC first quarter filings. A conference call will be scheduled for 8:00 am Pacific Time, 11:00 am Eastern Standard Time, the following business day, Thursday, May 16, 2023. See the FSI May 15, 2024 financials news release for the dial in numbers.
About Flexible Solutions International
Flexible Solutions International, Inc. (www.flexiblesolutions.com), based in Victoria, British Columbia, is an environmental technology company. The Company’s NanoChem Solutions Inc. subsidiary specializes in biodegradable, water-soluble products utilizing thermal polyaspartate (TPA) biopolymers. TPA beta-proteins are manufactured from the common biological amino acid, L-aspartic and have wide usage including scale inhibitors, detergent ingredients, water treatment and crop enhancement. Along with TPA, this division started producing other crop enhancement products as well. The other divisions manufacture energy and water conservation products for drinking water, agriculture, industrial markets and swimming pools throughout the world. FSI is the developer and manufacturer of WaterSavr™, the world’s first commercially viable water evaporation retardant. WaterSavr™ reduces evaporation by up to 30% on reservoirs, lakes, aqueducts, irrigation canals, ponds and slow moving rivers. Heatsavr™, a “liquid blanket” evaporation retardant for the commercial swimming pool and spa markets, reduces energy costs by 15% to 40% and can result in reduced indoor pool humidity.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward looking statement with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
To find out more information about Flexible Solutions and our products please visit www.flexiblesolutions.com
If you have received this news release by mistake or if you would like to be removed from our update list please reply to: info@flexiblesolutions.com
FAQ
What was the percentage decrease in Flexible Solutions International, Inc.'s (FSI) top line revenue for Q1 2024 compared to Q1 2023?
Flexible Solutions International, Inc. (FSI) reported a 6% decrease in top line revenue for Q1 2024 compared to Q1 2023.
When will Flexible Solutions International, Inc. (FSI) pay the special dividend to shareholders?
Flexible Solutions International, Inc. (FSI) will pay a ten cent special dividend to shareholders on May 16, 2024.
How do sales in Q1 2024 compare to Q4 2023 and the overall year of 2023 for Flexible Solutions International, Inc. (FSI)?
Sales in Q1 2024 were lower than the previous year but improved compared to Q4 2023 and 2023 as a whole for Flexible Solutions International, Inc. (FSI).
What is the focus of Flexible Solutions International, Inc. (FSI) management regarding company growth and shareholder dividends?
Flexible Solutions International, Inc. (FSI) management remains focused on growing the business and balancing dividends to shareholders.
When will Flexible Solutions International, Inc. (FSI) release complete financial results for Q1 2024 and hold a conference call?
Flexible Solutions International, Inc. (FSI) will release complete financial results on May 15, 2024, with a conference call scheduled for May 16, 2024.
