---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-003938"
form_type: "8-K"
ticker: "FLXS"
cik: "0000037472"
company_name: "FLEXSTEEL INDUSTRIES INC"
filed_at: "2024-01-11T23:59:59+00:00"
generated_at: "2026-06-07T00:43:02.346970+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Flexsteel Q2 preliminary sales $100.1M (+7.5%), EPS $0.57; guides FY25 margin 5.5-6.5%

## Summary
- Preliminary Q2 net sales $100.1M (+7.5% YoY), orders $104.8M (+13.9%); gross margin 21.9% vs 17.0%.
- GAAP operating income $4.6M (4.6% margin); GAAP diluted EPS $0.57 vs $0.53 prior year.
- Non-GAAP diluted EPS $0.57 vs $0.08; operating cash flow $18.9M; debt reduced 46% ($15.1M).
- Fiscal 2025 guide: sales $416-432M, operating margin 5.5-6.5%, free cash flow $20-30M.
- Michael Ressler promoted to CFO; Derek Schmidt to President and board; Matt Kaness resigns.

## SEC filing metadata
- accession: 0000950170-24-003938
- form_type: 8-K
- ticker: FLXS
- cik: 0000037472
- company_name: FLEXSTEEL INDUSTRIES INC
- filed_at: 2024-01-11T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/flxs-20240109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-003938
- JSON: https://secwatch.observer/filing/0000950170-24-003938.json
- Plain text: https://secwatch.observer/filing/0000950170-24-003938.txt

## Key facts
- Earnings Releases
  FLEXSTEEL INDUSTRIES INC reported Second Quarter Ended December 31, 2023 results: revenue Net sales for the quarter of $100.1 million compared to $93.1 million in the prior year quarter., net income GAAP net income per diluted share of $0.57 for the current quarter, EPS GAAP net income per diluted share of $0.57 for the current quarter compared to net income of $0.53 in the prior year qua. Guidance reaffirmed.
  - Period: Second Quarter Ended December 31, 2023
  - Revenue: Net sales for the quarter of $100.1 million compared to $93.1 million in the prior year quarter.
  - Net income: GAAP net income per diluted share of $0.57 for the current quarter
  - EPS: GAAP net income per diluted share of $0.57 for the current quarter compared to net income of $0.53 in the prior year qua
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: The Company expects to report the following financial results for its second quarter ended December 31, 2023: • Healthy sales growth of 7.5%: Net sales for the quarter of $100.1 million compared to $93.1 million in the prior year quarter. • Robust sales orders of $104.8 million representing growth of $12.8 million, or 13.9%, compared to prior year quarter. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- Executive change
  Michael J. Ressler changed role as Chief Financial Officer, Treasurer & Secretary at FLEXSTEEL INDUSTRIES INC.
  - Action: promoted
  - Role: Chief Financial Officer, Treasurer & Secretary
  source text: On January 10, 2024, Flexsteel Industries, Inc. (the “Company”) announced that Michael J. Ressler has been promoted to assume the role of Chief Financial Officer, Treasurer & Secretary effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- Executive change
  Derek P. Schmidt was appointed as Director at FLEXSTEEL INDUSTRIES INC.
  - Action: appointed
  - Role: Director
  source text: Mr. Schmidt will also be appointed to the Company’s Board of Directors effective January 10, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- Executive change
  Derek P. Schmidt changed role as President at FLEXSTEEL INDUSTRIES INC.
  - Action: promoted
  - Role: President
  source text: Mr. Schmidt was promoted to the position of President to reflect the level of responsibility he holds for the Company’s operations and growth strategy.
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- Executive change
  Matt Kaness resigned as Director at FLEXSTEEL INDUSTRIES INC.
  - Action: resigned
  - Role: Director
  source text: On January 9, 2024, Matt Kaness notified the Company that he is resigning from the Board of Directors effective immediately due to a need to focus on his primary professional commitments and to consider other opportunities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm
- Executive change
  Jerald K. Dittmer changed role as Chief Executive Officer at FLEXSTEEL INDUSTRIES INC.
  - Action: relinquished
  - Role: Chief Executive Officer
  source text: On January 10, 2024, in connection with Derek P. Schmidt being appointed President, Jerald K. Dittmer is relinquishing his position as President and will continue to serve as the Chief Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/37472/000095017024003938/0000950170-24-003938-index.htm

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