Flexsteel Q1 FY2024 EPS $0.14 (vs $0.05); sales $94.6M, down 1.1% YoY

FLEXSTEEL INDUSTRIES INC

2023-Q1 EPS reported $0.14 revenue$94,603,000

GAAP diluted EPS $0.14 vs $0.05 prior year; non-GAAP diluted EPS $0.14 vs $0.09.
Net sales $94.6M, down 1.1% YoY; excluding $7M ocean freight surcharge elimination, unit volume/mix grew 6.8%.
Gross margin expanded 350 bps to 19.5% from 16.0%; operating income $1.9M vs $0.4M.
SG&A rose to 17.4% of sales (15.2% prior) due to growth investments.
Management guides Q2 sales growth YoY and sequentially, with margin improvement.

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 first quarter fiscal 2024 results: revenue $94.6 million, net income $0.8 million, EPS $0.14 per diluted share.

Period: first quarter fiscal 2024
Revenue: $94.6 million
Net income: $0.8 million
EPS: $0.14 per diluted share
Result: reported results

Exact text from the filing

products in the United States, today reported first quarter fiscal 2024 results. Key Results for the f irst Quarter Ended September 30, 2023 • Net sales for the quarter of $94.6 million compared to $95.7 million in the prior year quarter, a decrease of (1.1%). • Gross margin increased to 19.5% for the first quarter compared to 16.0% in the prior year quarter. •

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Source: SEC EDGAR

accession 0000950170-23-056869

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