Flexsteel Inds Stock Price, News & Analysis

Flexsteel Industries (NASDAQ:FLXS) announced that Jerry Dittmer, President and CEO, along with CFO Derek Schmidt, will present at the Sidoti & Company LLC Microcap Virtual Investor Conference on May 19, 2021, at 10:00 a.m. Eastern Time. The event will be webcast live and available for replay for 90 days post-conference. Flexsteel is a leading manufacturer and marketer of furniture in the U.S., offering products like sofas, chairs, and tables, known for its unique steel drop-in seat spring, which inspired the company’s name.

Flexsteel Industries (NASDAQ:FLXS) reported a strong third quarter for fiscal 2021, with net sales rising 19.8% to $118.4 million. Organic sales surged 32.9% as retail home furnishings backlog reached a record $140 million, up 314% year-over-year. Gross margin improved to 19.5% from 14.0%, showcasing enhanced operational efficiency. The company posted a GAAP net income of $4.9 million or $0.67 per diluted share, rebounding from a loss of ($5.3 million) in the same quarter last year.

Flexsteel Industries, Inc. (NASDAQ:FLXS) will release its third quarter 2021 financial results on April 26, 2021, after market close. The Company, a leading manufacturer and marketer of furniture in the U.S., will hold a conference call on April 27, 2021, at 8:00 a.m. Central Time to discuss the results. Investors can access the earnings release and join the call via provided phone numbers or an online registration link. Flexsteel offers a range of upholstered furniture products and markets them primarily through eCommerce and a direct sales force.

Flexsteel Industries, Inc. (NASDAQ:FLXS) declared a quarterly dividend of $0.15 per share, a 50% increase from the previous $0.10. This dividend is payable on March 29, 2021, to shareholders of record as of March 17, 2021. Flexsteel has maintained cash dividends annually since 1938, marking the 317th consecutive quarterly dividend. As one of the largest furniture manufacturers in the U.S., Flexsteel offers a broad range of products, including upholstered furniture and bedroom sets, distributed via eCommerce and direct sales.

Flexsteel Industries (NASDAQ:FLXS) reported a 15.7% increase in net sales to $119.1 million for Q2 FY2021, up from $102.9 million year-over-year. Organic sales grew 25.5%, with a backlog of $101 million, marking a 49% increase in orders. Gross margin improved to 20.5% from 15.6%. The company posted a net income of $8.5 million or $1.13 per diluted share, reversing last year's loss of ($0.68). Challenges include global supply chain constraints but plans for a new manufacturing facility in Mexico aim to enhance production capacity.

Flexsteel Industries, Inc. (NASDAQ:FLXS) will release its second quarter 2021 financial results after market close on January 25, 2021. An earnings call is scheduled for January 26, 2021, at 8:00 a.m. Central Time for analysts and investors to discuss the results. Investors can attend via conference call or audio webcast. The earnings release will be available on the company's investor relations website after market close on the 25th.

Flexsteel Industries, Inc. (NASDAQ:FLXS) has declared a quarterly dividend of $0.10 per share, payable on January 4, 2021, to shareholders on record as of December 23, 2020. This marks the 316^th consecutive quarterly cash dividend, showcasing Flexsteel's commitment to returning value to shareholders since 1938. Leveraging a strong product portfolio, the company continues to be a significant player in the U.S. furniture market, offering a range of upholstered furniture products through ecommerce and direct sales.

Flexsteel Industries, Inc. (NASDAQ:FLXS) reported a 4.9% increase in net sales for Q1 FY 2021, totaling $105.2 million, driven by strong demand for home furnishing products.

Organic net sales surged 17.9%, while backlog reached a record $89 million. Gross margin improved to 21.7%, up from 17.2% a year prior. However, GAAP net income decreased to $3.9 million or $0.49 per share, down from $9.6 million or $1.17 in the previous year.

Despite challenges, the company remains financially stable with $36.5 million in cash and no debt.

Flexsteel Industries, Inc. (NASDAQ:FLXS) announces the release of its first quarter 2021 financial results on October 26, 2020, after market close. A conference call for analysts and investors will follow on October 27, 2020, at 8:00 a.m. Central Time to discuss the results. Participants can pre-register for the conference call to streamline access. Flexsteel is a leading manufacturer and marketer of residential upholstered furniture in the U.S., offering a diverse range of products including sofas, chairs, and bedding.