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Flexsteel Industries, Inc. - FLXS STOCK NEWS

Welcome to our dedicated page for Flexsteel Industries news (Ticker: FLXS), a resource for investors and traders seeking the latest updates and insights on Flexsteel Industries stock.

Flexsteel Industries, Inc., incorporated in 1929, stands as one of the oldest and largest manufacturers, importers, and marketers of residential and commercial upholstered and wooden furniture products in the United States. The company's comprehensive product offerings include sofas, loveseats, chairs, reclining and rocker reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture.

Flexsteel products are designed for use in various settings, including homes, offices, hotels, and other commercial environments. A notable feature of most of their upholstered furniture is a unique steel drop-in seat spring, which has become a hallmark of durability and quality, and is the inspiration for the company’s name “Flexsteel.”

The company distributes its products across the United States through its sales force and independent representatives. Their extensive distribution network ensures that Flexsteel's high-quality furniture is available nationwide.

In addition to its main operations, Flexsteel has a wholly-owned subsidiary, DMI Furniture, Inc. (“DMI”), which extends the company's market reach and product diversity. Flexsteel’s furniture portfolio not only serves residential needs but also caters to office, healthcare, and other contract applications, demonstrating the company’s versatility and commitment to meeting a wide range of consumer demands.

Flexsteel Industries is recognized for its Blue Steel Spring technology, which ensures the longevity and comfort of their upholstered furniture. This innovation has solidified the company's reputation for producing high-quality, durable furniture that stands the test of time.

Financially, Flexsteel has maintained a stable position within the market, continually adapting to industry trends and consumer preferences. The company constantly explores new projects and partnerships to enhance its product offerings and expand its market presence.

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Flexsteel Industries announced its Board of Directors has declared a quarterly dividend of $0.15 per share. The dividend is payable on July 8, 2024, to shareholders recorded by June 26, 2024. Since 1938, Flexsteel has consistently paid cash dividends on its common stock, marking the 330th consecutive quarterly cash dividend.

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Flexsteel Industries, Inc. (NASDAQ:FLXS) will have its President and CFO presenting at the Sidoti Virtual Investor Conference on May 8-9, 2024. The Company will also host one-on-one meetings with investors. Registration is open to all.

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Flexsteel Industries, Inc. (NASDAQ:FLXS) appoints Derek P. Schmidt as President and CEO effective July 1, 2024, succeeding Jerald K. Dittmer. Schmidt, with almost 30 years of experience in financial and management roles, has been instrumental in driving the Company's transformation and growth strategy over the past four years. Dittmer, who has led significant business transformation, will stay on as a Strategic Advisor until December 31, 2024, aiding in a smooth transition to Schmidt.

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Flexsteel Industries, Inc. reported strong fiscal third quarter 2024 results with 8% sales growth, improved operating margin, and continued debt reduction. The company achieved net sales of $107.2 million, representing an 8.2% increase from the prior year quarter. Gross margin expanded to 21.7%, operating income improved to $3.0 million, and adjusted net income per diluted share rose to $0.67.

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Flexsteel Industries, Inc. (FLXS) will release its third quarter 2024 financial results on April 29, 2024, followed by a conference call and webcast on April 30, 2024, to discuss the results with analysts and investors.
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Flexsteel Industries, Inc. (FLXS) declares a quarterly dividend of $0.15 per share, continuing its long history of dividend payments since 1938.
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Flexsteel Industries, Inc. (NASDAQ: FLXS) reported strong second quarter fiscal 2024 results, with a healthy sales growth of 7.5% and net sales of $100.1 million. The company also saw significant gross margin improvement to 21.9% and a robust operating income. They reported a strong cash flow generation and a 46% reduction in borrowings under the line of credit. The CEO emphasized that despite headwinds in the industry, the company is competing well and growing both its top and bottom line.
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Flexsteel Industries, Inc. (NASDAQ:FLXS) announced that its CEO and President will participate in a fireside chat and one-on-one meetings with investors at the Lytham Partners 2024 Investor Select Conference. The webcasted fireside chat will take place at 11:45am ET on February 1, 2024, and the webcast can be accessed at https://wsw.com/webcast/lytham10/flxs/2115344. The Company also posted an updated investor presentation on its website, outlining key elements of the business model, investment thesis, growth strategies, and financial objectives.
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Flexsteel Industries, Inc. (NASDAQ: FLXS) provided business updates, including preliminary second quarter fiscal 2024 results, a financial outlook for the remainder of fiscal year 2024 and fiscal year 2025, and recent management and board changes. The Company expects healthy sales growth of 7.5%, significant gross margin improvement to 21.9%, solid GAAP operating income of $4.6 million, and strong cash flow generation of $18.9 million for the quarter. Debt repayments of $15.1 million resulted in a 46% reduction in borrowings under the line of credit.
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Flexsteel Industries, Inc. (NASDAQ:FLXS) announced that its President and CEO, Jerry Dittmer, and COO and interim CFO, Derek Schmidt, will present and host one-on-one meetings with investors at the Sidoti Virtual Investor Conference on January 17-18, 2024. The presentation will start at 10:45 a.m. Eastern Time on Wednesday, January 17, 2024. Flexsteel will also conduct virtual one-on-one meetings with investors on the same dates. Registration for the presentation and one-on-one meetings is free and open to all, regardless of being a Sidoti client.
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FAQ

What does Flexsteel Industries, Inc. do?

Flexsteel Industries manufactures, imports, and markets a wide range of residential and commercial upholstered and wooden furniture in the United States.

What are some of the products offered by Flexsteel?

Flexsteel offers sofas, loveseats, chairs, rockers, desks, tables, convertible bedding units, and bedroom furniture, among others.

What is unique about Flexsteel's upholstered furniture?

A unique feature of Flexsteel's upholstered furniture is the durable Blue Steel Spring, which ensures longevity and comfort.

Where are Flexsteel products used?

Flexsteel products are designed for use in homes, offices, hotels, healthcare facilities, and other commercial environments.

How does Flexsteel distribute its products?

Flexsteel distributes its products throughout the United States through its sales force and various independent representatives.

Does Flexsteel have any subsidiaries?

Yes, Flexsteel has a wholly-owned subsidiary, DMI Furniture, Inc., which helps extend the company's market reach and product diversity.

How long has Flexsteel Industries been in business?

Flexsteel Industries was incorporated in 1929, making it one of the oldest furniture manufacturers in the United States.

What markets does Flexsteel serve?

Flexsteel serves both the residential and commercial markets, including home, office, hotel, and healthcare applications.

What is the significance of the name 'Flexsteel'?

The name 'Flexsteel' is derived from the company's unique steel drop-in seat spring, which is a key component in their upholstered furniture.

What is Flexsteel's approach to innovation?

Flexsteel continually explores new projects and partnerships to enhance its product offerings and expand its market presence, staying adaptable to industry trends and consumer preferences.

Flexsteel Industries, Inc.

Nasdaq:FLXS

FLXS Rankings

FLXS Stock Data

195.37M
5.16M
22.94%
39.53%
0.38%
Upholstered Household Furniture Manufacturing
Manufacturing
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United States of America
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