Flexible Solutn - FSI STOCK NEWS

Flexible Solutions International, Inc. (FSI) announces a decrease in revenue for the fourth quarter and full year of 2023, with sales dropping by approximately 24% year over year in Q4 and a full year decrease of 17%. The CEO attributes this to the company's raw material inventory costs and customer expectations. FSI plans to recover margins and resume growth in 2024.

Flexible Solutions International, Inc. (NYSE Amex: FSI) announces a poor third-quarter financial performance, with a 25% decrease in sales compared to the same period last year. The net loss was $(718,161), or $(0.06) per share, in Q3, 2023, attributed to higher cost of goods, lower sales, and product mix. The Company plans to review operating costs and seek lower cost of goods to regain profitability. The NanoChem division and ENP subsidiary remain the main sources of revenue and cash flow. A conference call with CEO, Dan O'Brien, is scheduled for November 15th, 2023, to address these financial results.

Flexible Solutions International, Inc. (FSI) has announced its top line revenue for the second quarter of 2023. Sales decreased by approximately 7% compared to the same period last year, with revenue dropping from $11.165 million in Q2 2022 to $10.330 million in Q2 2023. Complete financial results will be available on August 14, 2023, and a conference call is scheduled for August 15, 2023.

Flexible Solutions International, Inc. (FSI) has invested in a property in Mendota, IL. FSI has purchased 80% of an Illinois LLC, called 317 Mendota, which owns an industrial building. FSI subsidiary, ENP, will lease some space in the building and consolidate all operations there. This move will allow NCS subsidiary to occupy space in Peru, IL currently used by ENP. FSI expects the building to support the anticipated growth of both subsidiaries. Additional space in the building will be leased to other companies, with positive cash flow expected in 2024 and beyond.

Flexible Solutions International (NYSE-AME: FSI) announced a special dividend of five cents per share, payable on May 16, 2023, to shareholders on record as of April 28, 2023. The company’s current financial health allows it to reward shareholders despite this being a non-regular dividend. CEO Dan O'Brien indicated that the board will continue to assess retained earnings and capital needs with the aim of growing the company and potentially declaring dividends in the future. Flexible Solutions specializes in biodegradable polymers for various applications including oil extraction, and water and energy conservation technologies.

Flexible Solutions International (FSI) announced its first quarter 2023 revenue results, reporting a decrease in sales compared to the same period last year. Q1 2023 revenue fell to $9.883 million, down approximately 8% from $10.783 million in Q1 2022. CEO Dan O’Brien attributed this decline to weaker agricultural market sales, potentially linked to weather conditions and distribution order practices. The company expects a recovery in agricultural sales during Q2. Detailed financial results will be disclosed on May 15, 2023, alongside SEC filings. A conference call is tentatively set for May 16, 2023.

Flexible Solutions International (NYSE Amex: FSI) reported strong financial results for the year ending December 31, 2022. Sales increased by approximately 33%, reaching $45,840,469, compared to $34,416,335 in 2021. Net income surged to $7,021,604, or $0.57 per share, from $3,449,162, or $0.28 per share, in the previous year. The growth was partly fueled by a significant income tax carry forward rebate. Despite achieving these results, CEO Daniel B. O’Brien cautioned about ongoing challenges such as high input costs and inflation, but he anticipates continued revenue and profit growth in 2023. A conference call is scheduled for April 3, 2023, to discuss these results further.