Flexsteel Inds Stock Price, News & Analysis

Flexsteel Industries (NASDAQ: FLXS) reports strong sales growth for the fiscal second quarter of 2022, raising revenue guidance to $137-$143 million, marking a year-over-year increase of 17.5%. However, supply chain disruptions are leading to unforeseen ancillary costs, expected to exceed $10 million in Q2, resulting in an anticipated operating loss. Despite these challenges, CEO Jerry Dittmer expresses confidence in the company’s long-term growth strategy, projecting a return to profitability in the latter half of fiscal 2022.

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend of $0.15 per share, payable on January 3, 2022, to shareholders of record as of December 22, 2021. This marks the 320th consecutive quarterly cash dividend that the company has paid since 1938, highlighting its commitment to returning value to shareholders. Flexsteel is a major player in the U.S. furniture market, providing a diverse range of products from sofas to dining tables. The company's longevity in dividend payments reflects its strength and stability in the market.

Flexsteel Industries, Inc. (NASDAQ:FLXS) reported strong financial results for the first quarter of fiscal 2022, with net sales increasing by 30.8% to $137.7 million, compared to $105.2 million in the prior year. The company announced a net income of $4.35 million or $0.61 per diluted share, up from $3.89 million or $0.49 in the same quarter last year. Despite these gains, gross margins fell to 17.0% from 21.7%, primarily due to ongoing supply chain challenges and increased costs. Flexsteel plans to expand capacity to meet growing demand and address inventory levels.

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced it will release its first quarter 2022 financial results on October 25, 2021, post-market. A conference call is scheduled for October 26, 2021, at 8:00 a.m. Central Time to discuss these results. Investors can access the earnings release via the company’s investor relations website at ir.flexsteel.com. Flexsteel is a leading manufacturer and online marketer of furniture in the U.S., offering a diverse range of products including sofas, chairs, and tables.

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend of $0.15 per share, payable on October 4, 2021, to shareholders of record as of September 22, 2021. This marks the 319^th consecutive quarterly cash dividend, highlighting the company's long-standing commitment to returning value to shareholders since 1938. Flexsteel, a major player in the U.S. furniture industry, manufactures and markets a vast range of products including sofas and chairs, primarily through eCommerce and direct sales channels.

Flexsteel Industries reported a strong Q4 for fiscal 2021, achieving net sales of $136.2 million, a 110% increase from the previous year. For the full year, net sales rose 30.5% to $478.9 million. The company noted a record retail backlog of $152 million, a 238.3% increase year-over-year. Gross margin improved significantly to 19.4% in Q4, compared to 9.2% a year earlier. Flexsteel reported net income of $5.8 million ($0.81 per share) for the quarter, reversing a net loss of $25.7 million in the prior year. Management expressed confidence in continued growth despite ongoing supply chain challenges.

Flexsteel Industries, Inc. (NASDAQ:FLXS) will announce its fourth quarter 2021 financial results after market close on August 23, 2021. An earnings conference call is scheduled for August 24, 2021, at 8:00 a.m. Central Time, where analysts and investors can discuss the results. For convenience, pre-registration for the call is available to streamline participation. Flexsteel is prominent in the U.S. furniture market, offering diverse products through eCommerce and direct sales.

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend of $0.15 per share, payable on July 12, 2021, to shareholders of record by June 30, 2021. This marks the 318th consecutive quarterly cash dividend since 1938, reflecting the company's commitment to returning value to shareholders. Flexsteel is one of the largest manufacturers and marketers of furniture in the U.S., offering a wide range of products through both eCommerce and direct sales channels.

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced the appointment of Kathryn (Katy) P. Dickson as an independent director effective June 14, 2021. Dickson is recognized for her strategic leadership in digital transformation and brand innovation across notable companies including Tilray, Mattel, and General Mills. Chairman Thomas M. Levine and CEO Jerry Dittmer expressed their optimism, citing her experience in omni-channel strategies as a vital asset for enhancing Flexsteel's growth and customer experience. Dickson holds a B.S. from the U.S. Air Force Academy and an MBA from UCLA.