secwatch.observer — SEC 8-K summary
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Issuer:     FLEXSTEEL INDUSTRIES INC (FLXS)
CIK:        0000037472
Form:       8-K
Filed at:   2022-10-24T23:59:59+00:00
Accession:  0000037472-22-000054
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flexsteel Q1 net sales down 30.5% to $95.7M; GAAP EPS $0.05 vs $0.61 prior
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- Net sales of $95.7M beat guidance of $80-90M; home furnishings retail -31.1% YoY.
- GAAP net income $0.3M ($0.05 diluted EPS); non-GAAP adjusted EPS $0.09.
- Gross margin 16.0% vs 17.0% prior; SG&A down 22.4% to $14.6M.
- Cash flow from operations $13.0M; debt repayment $7.7M; liquidity $40.4M revolver available.
- New brand Charisma launched; Zecliner and flex product lines planned for Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37472/000003747222000054/0000037472-22-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37472/000003747222000054/flxs-20221024x8k.htm
  HTML page:      https://secwatch.observer/filing/0000037472-22-000054

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