Omega Flex Stock Price, News & Analysis

Omega Flex (NASDAQ: OFLX) has announced its regular quarterly dividend for the first quarter of 2025. The Board of Directors has declared a dividend of $0.34 per share, which will be paid on April 22, 2025, to shareholders of record as of April 10, 2025.

The company's Board will continue to determine future quarterly dividend amounts based on several factors, including: cash requirements, operational results, financial condition, capital expenditure plans, and potential acquisitions.

Omega Flex (NASDAQ: OFLX) reported its fourth quarter and full-year 2024 financial results, showing declining performance across key metrics. Net sales for 2024 decreased by 8.8% to $101,681,000, compared to $111,465,000 in 2023. The fourth quarter of 2024 saw net sales decline by 4.2% compared to the same period in 2023.

The company's net income for 2024 fell by 13.2% to $18,014,000, down from $20,763,000 in 2023. Fourth quarter net income was 4.2% lower than the same period in 2023. The performance decline was primarily attributed to lower sales unit volumes in a suppressed market affected by declining housing starts, increased salary-related expenses, and higher travel costs.

Omega Flex (NASDAQ: OFLX) has announced a regular quarterly dividend of $0.34 per share. The dividend will be paid on January 7, 2025, to shareholders of record as of December 19, 2024. The Board of Directors determines the dividend amount based on several factors, including the company's cash requirements, operational results, financial condition, capital expenditure plans, and potential acquisitions.

Omega Flex (OFLX) reported declining financial results for Q3 2024. Net sales decreased by 10.3% to $74.7 million for the first nine months of 2024, compared to $83.3 million in 2023. Third-quarter net sales fell 9.5% year-over-year. Net income dropped 16% to $13.3 million for the nine-month period, with Q3 net income declining 17.2% compared to 2023. The company attributed these decreases to lower sales volumes amid suppressed market conditions and declining housing starts. Higher overhead expenses from newly leased facilities impacted profitability, though lower raw material costs helped partially offset the decline.

Omega Flex, Inc. (NASDAQ: OFLX) has announced a regular quarterly dividend of $0.34 per share for the third quarter of 2024. The dividend is payable on October 8, 2024, to shareholders of record as of September 26, 2024. The company's Board of Directors determines the dividend amount quarterly, considering factors such as cash needs, financial condition, capital expenditure plans, and potential acquisitions. This decision reflects Omega Flex's commitment to returning value to shareholders while maintaining financial flexibility for future growth opportunities.

Omega Flex, Inc. (OFLX) reported its second quarter 2024 earnings, showing a decline in both net sales and net income. Net sales for the first six months of 2024 decreased by 10.7% to $49,836,000 compared to the same period in 2023. The second quarter of 2024 saw a 4.7% decrease in net sales compared to Q2 2023. Net income for the first half of 2024 fell by 15.4% to $8,715,000.

The company attributed the decrease in net sales primarily to lower sales unit volumes, citing a suppressed overall market due to factors including a decline in housing starts. The decrease in net income was mainly due to lower net sales and reduced production, resulting in lower absorption of factory labor and overhead costs. However, these negative impacts were partially offset by lower raw material costs, reduced executive compensation, lower product liability reserves, and higher interest income.

Omega Flex, a leading provider of flexible metal hose, announced a regular quarterly dividend of $0.34 per share for Q2 2024. The dividend will be paid on July 10, 2024, to shareholders of record by June 26, 2024. Future dividends will be determined based on the company's cash needs, operational results, financial condition, capital expenditure plans, and potential acquisitions.

Omega Flex, Inc. announced a decrease in net sales for the first quarter of 2024 compared to the same period in 2023, with a 15.9% decrease in sales. Net income also decreased by 26.5% during this period. The lower sales were attributed to factors such as a decline in housing starts. Despite the decrease, the company implemented measures to mitigate the impact, including reducing certain expenses and increasing interest income.