Flexsteel Industries (FLXS) Beats Q4 Earnings and Revenue Estimates

Core Insights - Flexsteel Industries (FLXS) reported quarterly earnings of $0.75 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, and showing significant growth from $0.36 per share a year ago, resulting in an earnings surprise of 11.94% [1] - The company achieved revenues of $110.82 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.19% and increasing from $105.82 million year-over-year [2] - Flexsteel shares have increased approximately 93.1% since the beginning of the year, significantly outperforming the S&P 500's gain of 16.4% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.54 on revenues of $96.68 million, while the estimate for the current fiscal year is $2.87 on revenues of $419.99 million [7] - The estimate revisions trend for Flexsteel is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Furniture industry, to which Flexsteel belongs, is currently ranked in the top 19% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% of industries [8] - Another company in the same industry, Hooker Furniture (HOFT), is expected to report a quarterly loss of $0.05 per share, reflecting a year-over-year change of -171.4% [9]