Omega Flex, Inc. Announces Fourth Quarter 2024 Earnings
Omega Flex (NASDAQ: OFLX) reported its fourth quarter and full-year 2024 financial results, showing declining performance across key metrics. Net sales for 2024 decreased by 8.8% to $101,681,000, compared to $111,465,000 in 2023. The fourth quarter of 2024 saw net sales decline by 4.2% compared to the same period in 2023.
The company's net income for 2024 fell by 13.2% to $18,014,000, down from $20,763,000 in 2023. Fourth quarter net income was 4.2% lower than the same period in 2023. The performance decline was primarily attributed to lower sales unit volumes in a suppressed market affected by declining housing starts, increased salary-related expenses, and higher travel costs.
Omega Flex (NASDAQ: OFLX) ha riportato i risultati finanziari del quarto trimestre e dell'intero anno 2024, mostrando un calo delle performance in diversi indicatori chiave. Le vendite nette per il 2024 sono diminuite dell'8,8% a $101.681.000, rispetto a $111.465.000 nel 2023. Nel quarto trimestre del 2024, le vendite nette sono diminuite del 4,2% rispetto allo stesso periodo del 2023.
Il reddito netto dell'azienda per il 2024 è sceso del 13,2% a $18.014.000, rispetto a $20.763.000 nel 2023. Il reddito netto del quarto trimestre è stato inferiore del 4,2% rispetto allo stesso periodo del 2023. Il calo delle performance è stato principalmente attribuito a un volume di unità vendute inferiore in un mercato compresso, influenzato dalla diminuzione delle nuove costruzioni, dall'aumento delle spese salariali e dai costi di viaggio più elevati.
Omega Flex (NASDAQ: OFLX) informó sus resultados financieros del cuarto trimestre y del año completo 2024, mostrando un rendimiento en declive en varios indicadores clave. Las ventas netas para 2024 disminuyeron un 8.8% a $101,681,000, en comparación con $111,465,000 en 2023. El cuarto trimestre de 2024 vio una caída del 4.2% en las ventas netas en comparación con el mismo período en 2023.
El ingreso neto de la compañía para 2024 cayó un 13.2% a $18,014,000, bajando de $20,763,000 en 2023. El ingreso neto del cuarto trimestre fue un 4.2% inferior al mismo período en 2023. La disminución del rendimiento se atribuyó principalmente a un menor volumen de ventas en un mercado deprimido, afectado por la caída en el inicio de construcciones, el aumento de los gastos relacionados con salarios y los costos de viaje más altos.
오메가 플렉스 (NASDAQ: OFLX)는 2024년 4분기 및 전체 연도 재무 결과를 발표하며 주요 지표에서 성과가 감소했음을 보여주었습니다. 2024년의 순매출은 2023년의 $111,465,000에 비해 8.8% 감소한 $101,681,000을 기록했습니다. 2024년 4분기에는 2023년 같은 기간에 비해 순매출이 4.2% 감소했습니다.
회사의 2024년 순이익은 2023년의 $20,763,000에서 13.2% 감소한 $18,014,000으로 나타났습니다. 4분기 순이익은 2023년 같은 기간보다 4.2% 낮았습니다. 성과 감소는 주택 착공 감소, 급여 관련 비용 증가, 여행 비용 상승 등으로 영향을 받은 억제된 시장에서의 판매 단위 수 감소에 주로 기인했습니다.
Omega Flex (NASDAQ: OFLX) a annoncé ses résultats financiers pour le quatrième trimestre et l'année entière 2024, montrant une baisse de performance dans plusieurs indicateurs clés. Les ventes nettes pour 2024 ont diminué de 8,8 % pour atteindre 101 681 000 $, contre 111 465 000 $ en 2023. Le quatrième trimestre de 2024 a enregistré une baisse des ventes nettes de 4,2 % par rapport à la même période en 2023.
Le revenu net de l'entreprise pour 2024 a chuté de 13,2 % pour atteindre 18 014 000 $, contre 20 763 000 $ en 2023. Le revenu net du quatrième trimestre était inférieur de 4,2 % à celui de la même période en 2023. La baisse de performance a été principalement attribuée à un volume de ventes unitaires plus faible dans un marché réprimé, affecté par la baisse des mises en chantier, l'augmentation des dépenses liées aux salaires et des coûts de voyage plus élevés.
Omega Flex (NASDAQ: OFLX) hat seine finanziellen Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und zeigt einen Rückgang der Leistung in mehreren wichtigen Kennzahlen. Die Nettoverkäufe für 2024 sanken um 8,8% auf 101.681.000 $, verglichen mit 111.465.000 $ im Jahr 2023. Im vierten Quartal 2024 sanken die Nettoverkäufe um 4,2% im Vergleich zum gleichen Zeitraum im Jahr 2023.
Das Nettoeinkommen des Unternehmens für 2024 fiel um 13,2% auf 18.014.000 $, gegenüber 20.763.000 $ im Jahr 2023. Das Nettoergebnis des vierten Quartals war um 4,2% niedriger als im gleichen Zeitraum 2023. Der Rückgang der Leistung wurde hauptsächlich auf niedrigere Verkaufsvolumina in einem unterdrückten Markt zurückgeführt, der von einem Rückgang der Wohnungsbauanfänge, steigenden lohnbezogenen Kosten und höheren Reisekosten betroffen war.
- Maintained profitability with $18.01M net income despite market challenges
- Net sales declined 8.8% to $101.68M
- Net income dropped 13.2% to $18.01M
- Q4 2024 showed 4.2% decline in sales and income
- Higher operational costs (salary and travel expenses)
- Suppressed market conditions and declining housing starts
Insights
Omega Flex's Q4 2024 results reveal concerning financial trajectory with broad-based declines across key metrics. Annual
The steeper percentage drop in earnings relative to revenue signals potential margin compression issues, likely stemming from the cited increases in salary-related expenses and travel costs against a backdrop of declining sales volumes. While the company maintained relatively stable margins in Q4 (with identical
Management's attribution of performance issues to housing market weakness aligns with broader macroeconomic trends affecting construction-related businesses. The explicit mention of "decline in housing starts" suggests Omega Flex remains heavily exposed to residential construction cycles, which presents ongoing near-term headwinds as monetary policy continues to impact housing activity.
Despite these challenges, the company still maintains substantial profitability with approximately
| OMEGA FLEX, INC. (OFLX) | ||||||||||||||||||
| Twelve Months Ended December 31, | Three Months Ended December 31, | |||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| Net Sales | $ | 101,681,000 | $ | 111,465,000 | $ | 26,965,000 | $ | 28,147,000 | ||||||||||
| Net Income attributable to Omega Flex, Inc. | $ | 18,014,000 | $ | 20,763,000 | $ | 4,682,000 | $ | 4,889,000 | ||||||||||
| Earnings Per Share – Basic and Diluted | $ | 1.78 | $ | 2.06 | $ | 0.46 | $ | 0.48 | ||||||||||
| Weighted Average Shares – Basic and Diluted | 10,094,322 | 10,094,322 | 10,094,322 | 10,094,322 | ||||||||||||||
EXTON, Pa., March 05, 2025 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company” or “Omega Flex”) (Nasdaq: OFLX) for 2024 and 2023 were
The Company’s net income for 2024 was
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS – This press release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict and may be beyond the ability of Omega Flex to control. Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform act of 1995 that are not historical facts, but rather reflect Omega Flex’s current expectations concerning future results and events. The words “believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance, or achievements of Omega Flex (or entities in which Omega Flex has interests) or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s view only as of the date of this press release. Omega Flex undertakes no obligation to publicly release the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions, or circumstances.
Contact: Dean W. Rivest
(610) 524-7272
FAQ
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