VICTORIA, BRITISH COLUMBIA, June 05, 2024 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. FSI is increasing its presense in the food and nutrition supplement manufacturing markets. Today t ...

Flexible Solutions International Inc. (FSI) reported earnings of 4 cents per share in first-quarter 2024, down from 7 cents in the year-ago quarter. It missed the Zacks Consensus Estimate of 6 cents. The bottom line in the reported quarter was hurt by increased cost of goods, reduced sales and product mix as well as significantly higher depreciation and amortization expenses. The results were also impacted by higher stock-based compensation expenses and one-time costs associated with the closing of FSI's Na ...

Financial Data and Key Metrics - Q1 2024 sales decreased by 6% to $9.2 million compared to $9.8 million in Q1 2023 [9] - Q1 2024 profit was $457,000, or $0.04 per share, compared to $884,000, or $0.07 per share, in Q1 2023 [9] - Operating cash flow for Q1 2024 was $1.34 million, or $0.11 per share, down from $1.73 million, or $0.14 per share, in Q1 2023 [38] Business Line Data and Key Metrics - NanoChem division (NCS) represents approximately 70% of FSI's revenue, focusing on TPA, SUN 27, and N Savr 30 products [14] - Food division sales were weak in Q1 but are expected to grow substantially for the full year 2024, with an increase of $1 million to $2 million in gross billings [16][30] - ENP division, focused on greenhouse, turf, and golf markets, is expected to see revenue growth in 2024, particularly in Q3 and Q4 [35] - Oil, gas, and industrial sales of TPA were stable in Q1 and are likely to continue through 2024 [36] Market Data and Key Metrics - Agricultural products in the US face resistance from growers due to crop prices not increasing at the rate of inflation, with most growth expected internationally through sales to the Florida LLC [7] - Florida LLC investment showed improved margins in Q1 and is expected to grow sales and profits in 2024, focusing on international markets [17] Company Strategy and Industry Competition - The company is focusing on increasing sales in existing businesses and expanding into the food industry to spread wage and base costs over more revenue dollars [19] - The company has streamlined operations by closing the Naperville R&D facility and moving operations to the Peru Illinois building, with exit costs mostly taken in Q1 [37] - The company is exploring new opportunities in the food and nutraceutical markets, with several products in development expected to generate revenue in 2024 [37] Management Commentary on Operating Environment and Future Outlook - Management expects growth to resume in sales, cash flow, and profit for the rest of 2024, with progress made in resolving issues from the previous year [37] - Shipping prices are stable but higher than pre-COVID levels, and raw material prices are stable and increasing with inflation [8] - Tariffs on raw materials imported from China since 2019 are negatively affecting costs, cash flow, and profits, with over $1 million in rebates still pending [18] Other Important Information - The company has adequate working capital and lines of credit with Stock Yards Bank for ENP and NCS subsidiaries [20] - The company acquired 80% of an LLC called 317 Mendota, which purchased a large building in Mendota, Illinois, with 240,000 square feet available for use or rental [38] Q&A Session Summary Question: What are the three most promising products in terms of improving profitability? - The top three products are: 1) the liquid stability agent made from polyaspartates, 2) a personal nutritional health product for a large company, and 3) a second product for the same company in the personal nutritional health field, likely vitamins [22] - Margins for these products are in the 35% to 45% range, which are considered excellent for the industry [23] Question: Why are accounts receivable up, and is there concern about collectability? - The increase in accounts receivable is likely due to a bolus of sales at the end of the quarter, with no concerns about collectability [27][28] Question: Any updates on the tariff rebate situation? - The company is determined to recover the rebates, even if legal action is required, but there is no timeline for when this might happen [29] Question: Can you provide more details on the expected growth in food product sales? - The company expects an increase of $1 million to $2 million in gross billings for the food product compared to last year [30]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-31540 FLEXIBLE SOLUTIONS INTERNATIONAL INC. (Exact Name of registrant as Specified in Its Charter) | Alberta | 71-1630889 | | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Date of Report (date of earliest event reported): April 23, 2024 FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (Exact name of Registrant as specified in its charter) Nevada 001-31540 91-1922863 (State or other jurisdiction (Commission (IRS Employer of incorporation) File No.) Identification No.) 6001 54 Ave. Tabor, Alberta T1G 1X4 (Address of principal executive offices, including Zip Code) Registrant's telephone number, including area code: ( ...

The Company also Announces a Ten Cent Special Dividend to be Paid May 16 2024 to Shareholders of Record on April 30 2024 VICTORIA, BRITISH COLUMBIA, April 23, 2024 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE- AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy co ...

Flexible Solutions International, Inc. (NYSE:FSI) Q4 2023 Earnings Conference Call April 3, 2024 11:00 AM ET Company Participants Dan O'Brien - Chief Executive Officer Conference Call Participants Tim Clarkson - Van Clemens Operator Good day, everyone, and welcome to today's Flexible Solutions International Full Year 2023 Financials. [Operator Instructions] Please note, this call may be recorded, and I'll be standing by if you need in any assistance. It is now my pleasure to turn the conference over to Dan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-31540 FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) | Alberta | 71-1630889 | | --- | --- | | (State or other jurisdiction of incorpor ...

A Conference call is scheduled for Wednesday April 3rd, 2024, 11:00am Eastern Time See dial in number below VICTORIA, BRITISH COLUMBIA, March 29, 2024 (GLOBE NEWSWIRE) -- FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (AMEX:FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent ingredients and water treatment as well as crop nutrient availability chemistry. Flexible Solutions also manufactures biodegradable and environmentally safe water and energy conservation technologies. ...

Flexible Solutions International, Inc. (NYSE:FSI) Q3 2023 Earnings Conference Call November 15, 2023 11:00 AM ET Company Participants Dan O'Brien - Chief Executive Officer Conference Call Participants Tim Clarkson - Van Clemens Capital William Gregowski - Greenridge Global Raymond Howe - CFP Operator Good day, everyone, and welcome to today's Flexible Solutions International Third Quarter 2023 Financials Conference. At this time, all participants are in a listen-only mode. Later, you will have the opportuni ...