Flexsteel Q4 sales fall 15% YoY to $105.8M; GAAP EPS $1.91 on tax benefit, adj EPS $0.36

FLEXSTEEL INDUSTRIES INC

2023-FY EPS reported $2.74 revenue$393,692,000

Q4 net sales $105.8M (-15% YoY); FY net sales $393.7M (-27.7% YoY).
Gross margin improved to 20.0% (Q4) and 18.0% (FY) vs 14.2% and 13.4% prior year.
GAAP diluted EPS $1.91 (Q4), $2.74 (FY); includes $8.3M tax benefit from valuation allowance reversal. Non-GAAP EPS $0.36 (Q4), $0.87 (FY).
Sequential sales growth: Q4 +6.8% vs Q3; Q3 +6.4% vs Q2.
Full-year cash from operations $23M; ending cash $3.4M, $45.8M credit line available.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FLEXSTEEL INDUSTRIES INC reported Fourth Quarter and Fiscal Year Ended June 30, 2023 results: revenue $105.8 million, net income $10.2 million, or $1.91 per diluted share, EPS $1.91 per diluted share.

Period: Fourth Quarter and Fiscal Year Ended June 30, 2023
Revenue: $105.8 million
Net income: $10.2 million, or $1.91 per diluted share
EPS: $1.91 per diluted share
Result: reported results

Exact text from the filing

Net sales were $105.8 million for the fourth quarter

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Source: SEC EDGAR

accession 0000037472-23-000019

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