Flexsteel Q1 net sales up 10% to $104M; EPS $0.74 vs $0.14; raises FY guidance

FLEXSTEEL INDUSTRIES INC

2024-Q1 EPS reported $0.74 revenue$104,007,000

GAAP net income $4.1M ($0.74/diluted share) vs $0.8M ($0.14) YoY.
Gross margin expanded 200 bps to 21.5%; operating margin 5.8% vs 2.0%.
Sales orders of $100.8M, up 9.4% YoY; fourth consecutive quarter of growth.
FY2025 sales guidance raised to 3.5%-6.5% growth; operating margin 5.8%-6.5%.
Cash $5.7M; $54.9M available on credit line; capex $0.4M in Q1.

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