Omega Flex Stock Price, News & Analysis

Omega Flex announced strong financial results for Q1 2021, with net sales reaching $30.86 million, a 22.2% increase from $25.27 million in Q1 2020. The net income rose to $6.27 million, up 44.3% from $4.34 million year-over-year. This marks the company's best first quarter on record, reflecting a recovery following pandemic-related challenges.

Omega Flex, Inc. (NASDAQ:OFLX) announced a quarterly dividend of $0.28 per share, payable on April 14, 2021, to shareholders on record as of April 5, 2021. The company’s chairman, Kevin R. Hoben, expressed confidence in the firm’s capacity to navigate current economic challenges as evidenced by their commitment to maintain this dividend. Future dividend amounts will be assessed quarterly, considering financial performance, cash requirements, and potential acquisitions.

Omega Flex (OFLX) reported a net sales decrease of 5.0% for 2020, totaling $105,796,000 compared to $111,360,000 in 2019, primarily due to COVID-19 disruptions. However, net income increased by 15.2% to $19,910,000, with the fourth quarter showing a 29.3% rise in income year-over-year, reflecting improved sales and reduced atypical costs. The company maintained its gross profit margin despite pandemic-related challenges and noted strong sales growth in Q4 2020 compared to the same period in 2019.

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on January 5, 2021. This decision reflects the Board's confidence in the company's ability to navigate challenging economic conditions. Shareholders of record by December 21, 2020 are eligible for this dividend. The Board will assess future dividends based on operational performance, financial health, and capital expenditure needs.

Omega Flex reported Q3 2020 net sales of $27.1 million, a 3.4% decline year-over-year, contributing to a 9.1% decrease to $74.2 million for the first nine months compared to 2019. Despite lower sales, net income rose to $12.7 million, an 8.5% increase from $11.7 million in the same period last year. This growth was attributed to reduced SG&A expenses, including lower product liability costs after a favorable court ruling. However, gross profit declined due to reduced sales volume, impacting overall profit margins.

Omega Flex, Inc. (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on October 13, 2020, to shareholders on record by October 5, 2020. Chairman Kevin R. Hoben emphasized the company's commitment to maintaining this dividend amid challenging economic conditions, reflecting confidence in its financial resilience. Future dividends will be determined based on the company's operational results, financial health, capital plans, and potential acquisitions.

Omega Flex reported its financial results for the second quarter of 2020, revealing net sales of $47.08 million, a 12.2% decline from $53.60 million in the same period in 2019. The second quarter's net income was $7.92 million, down 5.4% from $8.37 million in 2019. Sales volume notably dropped in April due to non-essential business closures, particularly in residential construction, but showed improvement in May and June. The company managed to increase its income as a percentage of sales by cutting operating costs.

Omega Flex (NASDAQ: OFLX) announced a quarterly dividend of $0.28 per share, payable on July 13, 2020, to shareholders of record on July 6, 2020. The company's Board of Directors will review future dividend amounts based on operational performance, financial condition, capital expenditure plans, and potential acquisitions. This announcement highlights the company's confidence in its financial health and commitment to returning value to shareholders.

Omega Flex, Inc. (OFLX) will host a virtual annual meeting of shareholders on June 3, 2020, at 1:00 p.m. EDT due to COVID-19 health concerns. Only registered shareholders as of April 6, 2020, and legal proxy holders can participate. Attendees must register online at the official website to receive an email invitation. Shareholders can vote in advance through provided links, and questions can be submitted during the meeting. A replay will be available for 30 days post-event.