secwatch.observer — SEC 8-K summary
======================================

Issuer:     FLEXSTEEL INDUSTRIES INC (FLXS)
CIK:        0000037472
Form:       8-K
Filed at:   2022-04-25T23:59:59+00:00
Accession:  0000037472-22-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flexsteel Q3 FY2022: net sales up 18.6% to $140.4M, GAAP EPS $0.82
------------------------------------------------------------------

- GAAP net income $5.3M ($0.82 diluted EPS) vs $4.9M ($0.67) prior year; non-GAAP EPS $0.81 vs $0.72.
- Gross margin 15.7%, down 380 bps from 19.5% due to supply chain costs, capacity investments, and inflation.
- Operating cash flow $37.1M; reduced bank borrowings by $18.1M; repurchased $18.3M shares (13.7% of shares outstanding).
- Fiscal 2022 capex guided $7-9M for manufacturing and distribution expansion.
- New Mexicali plant on track for late summer; lead times expected to return to 4-6 weeks by early June.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37472/000003747222000019/0000037472-22-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37472/000003747222000019/flxs-20220425x8k.htm
  HTML page:      https://secwatch.observer/filing/0000037472-22-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer