Welcome to our dedicated page for Flexible Solutn news (Ticker: FSI), a resource for investors and traders seeking the latest updates and insights on Flexible Solutn stock.
Flexible Solutions International, Inc. (FSI) is an environmental technology and specialty chemical manufacturer whose common stock trades on the NYSE American under the symbol FSI. Company news frequently highlights its work with biodegradable polymers for oil extraction, detergent ingredients, water treatment and crop nutrient availability chemistry, as well as biodegradable and environmentally safe water and energy conservation technologies.
Recent press releases emphasize the performance of the NanoChem division and ENP subsidiary, which the company identifies as dominant sources of revenue and cash flow. News items regularly cover quarterly financial results, including revenue trends, non-GAAP operating cash flow, and commentary on factors such as tariffs, cost of goods and capital expenditures related to facilities in Illinois and Panama.
Another recurring theme in FSI news is its expansion into food and nutrition supplement manufacturing markets. The company reports that it obtained FDA food grade approval for its Peru, Illinois plant and has since announced significant food grade contracts for that facility. News updates describe production starts for these contracts, payments for assisting in the development of new food grade products, and management’s discussion of how these agreements relate to its broader business.
FSI news also includes announcements about corporate actions and strategic decisions, such as the sale of the Mendota, Illinois plant while retaining a long-term lease for the ENP division, and an offer to acquire an agriculture-oriented company that was ultimately declined. Investors following FSI news can expect regular updates on earnings releases, conference call schedules, material contracts, facility changes and developments in its food grade and environmental technology operations.
Flexible Solutions International (NYSE-AMERICAN: FSI) has announced the sale of units in its Florida investment for a total of $6 million, to be paid over five years. The original purchase price was $3.5 million. This transaction is expected to increase FSI's liquidity and support potential growth in its nutrition and food operations.
CEO Dan O'Brien stated that the sale will contribute to FSI's ability to take on significant contracts in the coming months. The new partner in the Florida is expected to expand sales, which could benefit FSI through a retained supply agreement. Increased sales to the Florida are anticipated to begin in the next several quarters.
Flexible Solutions International (NYSE-AMERICAN: FSI), a developer and manufacturer of biodegradable polymers and environmentally safe technologies, has announced its Q2 2024 revenue. The company reported a slight increase in sales, with top-line revenue rising from $10.331 million in Q2 2023 to $10.528 million in Q2 2024, representing a 2% year-over-year growth.
Complete financial results will be released on August 14, 2024, after market close, coinciding with the company's SEC second quarter filings. A conference call is scheduled for August 15, 2024, at 8:00 am Pacific Time (11:00 am Eastern Standard Time) to discuss the results.
Flexible Solutions International (NYSE-AMERICAN: FSI) announced a significant capital expenditure to acquire a production line for vial filling of injectable drugs such as GLP1 for weight loss. The $2.5 million investment secures a nearly-unused production line capable of producing 22.5 million vials per year, reducing the typical wait time and cost for such equipment. The company aims to leverage its existing clean room skills from its food/nutrition division to enter the high-risk, high-reward drug compounding market. CEO Dan O’Brien emphasized the need for de-risking this venture by securing sales and potentially partnering with experienced players in the industry. The company plans to proceed only if the benefits to shareholders outweigh the risks, with a minimum one-year timeframe before production can commence, subject to regulatory approvals.
Flexible Solutions International (FSI) has released its financial results for Q1 2024. The company reported sales of $9.22 million, a decrease of 6% from the $9.85 million in Q1 2023.
Net income fell to $457,226 ($0.04 per share) from $884,369 ($0.07 per share) in the previous year, due to higher costs and one-time expenses related to the closure of its Naperville R&D facility.
Operating cash flow for Q1 2024 was $1.34 million ($0.11 per share), down from $1.73 million ($0.14 per share) in Q1 2023. CEO Daniel B. O’Brien highlighted the progress in operational streamlining and new opportunities in the food and nutraceutical markets expected to drive revenue in 2024.
A conference call is scheduled for May 16, 2024, at 11:00 AM Eastern Time.
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