Flexsteel Industries, Inc. (NASDAQ:FLXS) Q1 2025 Earnings Call Transcript October 22, 2024 9:00 AM ET Company Participants Mike Ressler - CFO Derek Schmidt - President and CEO Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Operator Good day, and welcome to the Flexsteel Industries First Quarter Fiscal Year 2025 Earnings Results. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Inst ...

Flexsteel Industries, Inc.'s (NASDAQ: FLXS ) 1Q25 results were within guidance and in line with the company's expectations for FY25 (with some improvement in the low end of the guidance). The company has continued to post very goodLong-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, th ...

Dwindling consumer confidence and economic uncertainty are marring prospects of the Zacks Furniture industry. Consumers' cautious spending and high interest rates have created hurdles, but companies like SharkNinja, Inc. (SN) , Virco Mfg. Corporation (VIRC) and Flexsteel Industries, Inc. (FLXS) are capitalizing on this period by strategically investing in technological advancements, product innovation, and efficient cost management. These efforts, combined with accretive buyouts, are set to expand their glo ...

Flexsteel Industries (FLXS) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 19.35%. A quarter ago, it was expected that this furniture maker would post earnings of $0.67 per share when it actually produced earnings of $0.75, delivering a surprise of 11.94%. Over the last four quarter ...

Financial Performance - Net sales for the first quarter of fiscal 2025 were $104.0 million, an increase of 9.9% compared to $94.6 million in the prior year quarter[2] - Gross margin improved to 21.5%, up 200 basis points from 19.5% in the prior year quarter, driven by sales leverage and supply chain cost savings[4] - GAAP operating income for the quarter was $6.0 million, or 5.8% of net sales, compared to $1.9 million, or 2.0% of net sales in the prior year quarter[2] - Net income for the quarter was $4.1 million, or $0.74 per diluted share, compared to $0.8 million, or $0.14 per diluted share in the prior year quarter[5] - Sales orders for the first quarter were robust at $100.8 million, representing a growth of 9.4% compared to the prior year quarter[2] Guidance and Projections - The company is increasing its sales growth guidance for fiscal 2025 from 2%-6% to 3.5%-6.5%[7] - The operating margin guidance for fiscal 2025 has been raised from 5.5%-6.5% to 5.8%-6.5%[7] Cash and Working Capital - Cash balance at the end of the quarter was $5.7 million, with working capital of $98.3 million and availability of approximately $54.9 million under its secured line of credit[6] - Cash and cash equivalents at the end of the period rose to $5,740,000 from $2,973,000 in 2023[15] - Net cash provided by operating activities was $2,398,000, a turnaround from a cash used of $1,781,000 in the previous year[15] Expenses and Investments - Selling, general and administrative expenses decreased to 15.7% of net sales from 17.4% in the prior year quarter, due to higher sales volume leverage[4] - The company reported capital expenditures of $0.4 million for the quarter[6] - Capital expenditures decreased to $427,000 from $1,355,000 in 2023, indicating a reduction in investment outlay[15] - Dividends paid remained relatively stable at $874,000 compared to $879,000 in the prior year[15] Financing Activities - Proceeds from sales of investments amounted to $1,155,000, with no sales reported in the previous year[15] - Proceeds from the line of credit increased to $102,851,000 from $101,365,000, reflecting a slight growth in financing[15] - Payments on the line of credit rose to $104,092,000 from $96,640,000, indicating increased repayment activity[15] Accounts Receivable and Liabilities - The change in provision for losses on accounts receivable improved to a loss of $40,000 from $70,000 in 2023[15] - The company reported a decrease in changes in operating assets and liabilities, improving to $(3,801,000) from $(4,442,000) in the previous year[15]

Flexsteel Industries, Inc. (FLXS) is slated to report its first-quarter fiscal 2025 results on Oct. 21, after market close. In the last reported quarter, the company's earnings topped the Zacks Consensus Estimate by 11.9% and increased 108.3% year over year. Net sales topped the consensus mark by 1.2% and increased 4.7% from the prior-year quarter's level. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. FLXS' bottom line topped the consensus mark in two of the trailing four quarter ...

Investors interested in Furniture stocks are likely familiar with Flexsteel Industries (FLXS) and SharkNinja, Inc. (SN) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends ...

Following a thorough vendor evaluation, Flexsteel Industries, Inc. (FLXS) teams up with 3D Cloud for its 3D digital asset management and product configuration needs. This collaboration will provide more than 2,500 Flexsteel retailers with advanced 3D product visualization tools. The integration of 3D Cloud is expected to enhance product visualization, streamline configuration processes and improve overall efficiency for Flexsteel's retail partners. It will provide Flexsteel's retailers with tools to create ...

Flexsteel CIO: "3D Cloud has a unique mix of leading technology, straightforward pricing, and a holistic solution that addresses the critical challenges in 3D product visualization for furniture manufacturers." DUBUQUE, Iowa, Sept. 16, 2024 /PRNewswire/ -- Flexsteel Industries, Inc. (NASDAQ:FLXS), one of the oldest and largest manufacturers, importers, and marketers of residential upholstered and wooden furniture products in the United States, today announced its partnership with 3D Cloud™, the leading prov ...

Flexsteel Industries, Inc. (FLXS) announced a hike of more than 13% in its quarterly cash dividend. The largest manufacturer, importer, and marketer of residential furniture products will pay out a quarterly dividend of 17 cents per share on Oct. 7, 2024, to shareholders on record as of Sept. 25. The company currently has a dividend payout ratio of 28% and a dividend yield of 1.5%, based on the closing share price of $39.80 on Sept. 10. This marks the company's 331st consecutive quarterly cash dividend. Wit ...