secwatch.observer — SEC 8-K summary
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Issuer:     FLEXSTEEL INDUSTRIES INC (FLXS)
CIK:        0000037472
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0000037472-23-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/37472/000003747223000019/0000037472-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/37472/000003747223000019/flxs-20230821x8k.htm
  HTML page:      https://secwatch.observer/filing/0000037472-23-000019

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