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Flexible Solutions International, Inc. reports developments in specialty chemicals, biodegradable polymers, and water and energy conservation technologies. The company’s NanoChem Solutions Inc. subsidiary produces water-soluble products based on thermal polyaspartate biopolymers for uses including oil extraction, detergent ingredients, water treatment, scale inhibition, and crop enhancement.
FSI news commonly covers revenue releases, annual and quarterly financial results, conference-call updates, production activity, and facility changes tied to its Illinois food-grade operations and Panama agriculture and industrial products factory. Company updates also address crop nutrient availability chemistry, food and nutrition supplement manufacturing, and water-conservation products for drinking water, agriculture, industrial markets, and swimming pools.
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Flexible Solutions International (NYSE-AME: FSI) announced a special dividend of five cents per share, payable on May 16, 2023, to shareholders on record as of April 28, 2023. The company’s current financial health allows it to reward shareholders despite this being a non-regular dividend. CEO Dan O'Brien indicated that the board will continue to assess retained earnings and capital needs with the aim of growing the company and potentially declaring dividends in the future. Flexible Solutions specializes in biodegradable polymers for various applications including oil extraction, and water and energy conservation technologies.
Flexible Solutions International (FSI) announced its first quarter 2023 revenue results, reporting a decrease in sales compared to the same period last year. Q1 2023 revenue fell to $9.883 million, down approximately 8% from $10.783 million in Q1 2022. CEO Dan O’Brien attributed this decline to weaker agricultural market sales, potentially linked to weather conditions and distribution order practices. The company expects a recovery in agricultural sales during Q2. Detailed financial results will be disclosed on May 15, 2023, alongside SEC filings. A conference call is tentatively set for May 16, 2023.
Flexible Solutions International (NYSE Amex: FSI) reported strong financial results for the year ending December 31, 2022. Sales increased by approximately 33%, reaching $45,840,469, compared to $34,416,335 in 2021. Net income surged to $7,021,604, or $0.57 per share, from $3,449,162, or $0.28 per share, in the previous year. The growth was partly fueled by a significant income tax carry forward rebate. Despite achieving these results, CEO Daniel B. O’Brien cautioned about ongoing challenges such as high input costs and inflation, but he anticipates continued revenue and profit growth in 2023. A conference call is scheduled for April 3, 2023, to discuss these results further.
Flexible Solutions International (NYSE: FSI) reported a notable revenue increase for Q4 and full-year 2022. Q4 revenue surged to $12.1 million, a 34% rise from $9.04 million in Q4 2021. Full-year revenue improved from $34.4 million in 2021 to $45.7 million in 2022, reflecting a 33% increase. The CEO, Dan O’Brien, attributed this growth to the collective efforts of the team. Detailed financial results will be available on March 31, 2023, with a conference call set for April 3, 2023.