Omega Flex, Inc. Announces First Quarter 2025 Earnings
Rhea-AI Summary
Omega Flex reported its first quarter 2025 financial results, showing a decline in both revenue and profit. Net sales decreased by 7.5% to $23.33 million, compared to $25.22 million in Q1 2024. Net income fell 15.4% to $3.57 million from $4.22 million in the previous year.
Earnings per share dropped to $0.35 from $0.42, while the weighted average shares remained constant at 10,094,322. CEO Dean W. Rivest attributed the performance decline to lower sales unit volumes, citing suppressed market conditions and a decline in housing starts as key factors.
The company maintains a cautious outlook, acknowledging market uncertainties and potential risks that could impact future performance. This conservative stance reflects current market challenges in the housing sector.
Positive
- None.
Negative
- Net sales decreased 7.5% to $23.33M in Q1 2025 vs $25.22M in Q1 2024
- Net income fell 15.4% to $3.57M in Q1 2025 from $4.22M in Q1 2024
- Earnings per share dropped to $0.35 from $0.42 year-over-year
- Lower sales unit volumes due to suppressed market conditions
- Decline in housing starts affecting business performance
News Market Reaction
On the day this news was published, OFLX declined 2.17%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
EXTON, Pa., April 30, 2025 (GLOBE NEWSWIRE) --
| OMEGA FLEX, INC. (OFLX) | ||||||
| Three Months Ended March 31, | ||||||
| 2025 | 2024 | |||||
| Net Sales | $ | 23,330,000 | $ | 25,216,000 | ||
| Net Income attributable to Omega Flex, Inc. | $ | 3,568,000 | $ | 4,219,000 | ||
| Earnings Per Share - Basic and Diluted | $ | 0.35 | $ | 0.42 | ||
| Weighted Average Shares - Basic and Diluted | 10,094,322 | 10,094,322 | ||||
Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company”) for the first quarters of 2025 and 2024 were
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS – This press release contains forward-looking statements, which are subject to inherent uncertainties which are difficult to predict and may be beyond the ability of Omega Flex to control. Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are not historical facts, but rather reflect Omega Flex’s current expectations concerning future results and events. The words “believes,” “expects,” “intends,” “plans,” “anticipates,” “hopes,” “likely,” “will,” and similar expressions identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance, or achievements of Omega Flex (or entities in which Omega Flex has interests) or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s view only as of the date of this press release. Omega Flex undertakes no obligation to publicly release the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions, or circumstances.
| Contact: Dean W. Rivest |
| (610) 524-7272 |
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