Welcome to our dedicated page for Flexible Solutions International news (Ticker: FSI), a resource for investors and traders seeking the latest updates and insights on Flexible Solutions International stock.
Flexible Solutions International, Inc. (FSI) develops, manufactures, and markets specialty chemicals designed to slow the evaporation of water. The company operates through two main segments: Energy and Water Conservation Products and Biodegradable Polymers.
One of their flagship products is the liquid swimming pool blanket, marketed under the WATERSAVR brand, which helps in conserving water and energy by reducing surface evaporation. Another notable product is HEATSAVR, a chemical solution for swimming pools and spas aimed at slowing water evaporation, thus saving both water and energy.
FSI also manufactures and markets water-soluble chemicals utilizing thermal polyaspartate biopolymers, which are environmentally friendly. These polymers find applications in various industries, contributing to the company's reputation as a producer of biodegradable solutions.
The majority of FSI's revenue is generated from the export of its products to international markets, underscoring its global presence and appeal.
Recently, Flexible Solutions International has been making strides in innovation and product development, ensuring they remain at the forefront of the specialty chemicals industry. Their commitment to sustainability and resource conservation continues to attract international partnerships and customers.
For more information about Flexible Solutions International and their products, visit their official website.
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.
Flexible Solutions International (NYSE: FSI) reported a notable revenue increase for Q4 and full-year 2022. Q4 revenue surged to $12.1 million, a 34% rise from $9.04 million in Q4 2021. Full-year revenue improved from $34.4 million in 2021 to $45.7 million in 2022, reflecting a 33% increase. The CEO, Dan O’Brien, attributed this growth to the collective efforts of the team. Detailed financial results will be available on March 31, 2023, with a conference call set for April 3, 2023.
Flexible Solutions International (NYSE Amex: FSI) announced its Q3 2022 financial results, marking the third consecutive record revenue quarter with a 27% increase in sales to $11.69 million. Despite rising raw material costs impacting profits, net income for Q3 was $1.11 million or $0.09 per share. Year-to-date sales rose 33% to $33.63 million with a 14% profit increase, totaling $4.30 million. The company's NanoChem division remains a key revenue driver, and CEO Dan O'Brien forecasts positive results for Q4.
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