---
schema_version: "secwatch.filing_event.v1"
accession: "0000037472-23-000019"
form_type: "8-K"
ticker: "FLXS"
cik: "0000037472"
company_name: "FLEXSTEEL INDUSTRIES INC"
filed_at: "2023-08-21T23:59:59+00:00"
generated_at: "2026-06-11T06:34:17.355477+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000037472-23-000019
- form_type: 8-K
- ticker: FLXS
- cik: 0000037472
- company_name: FLEXSTEEL INDUSTRIES INC
- filed_at: 2023-08-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/37472/000003747223000019/0000037472-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/37472/000003747223000019/flxs-20230821x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000037472-23-000019
- JSON: https://secwatch.observer/filing/0000037472-23-000019.json
- Plain text: https://secwatch.observer/filing/0000037472-23-000019.txt

## Key facts
- Earnings Releases
  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
  source text: Net sales were $105.8 million for the fourth quarter
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000003747223000019/0000037472-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.