Omega Flex reports FY2022 net sales down 3.5% to $125.5M; net income down 9.8% to $23.6M

Omega Flex, Inc.

2023-FY EPS reported $2.34 revenue$125,487,000

Net sales $125.5M for FY2022 vs $130.0M in 2021, down 3.5%; Q4 net sales $30.8M vs $35.5M, down 13.1%.
Net income $23.6M vs $26.2M, down 9.8%; diluted EPS $2.34 vs $2.60.
Sales unit volumes declined at a higher rate than revenue; pricing actions largely offset material cost pressure.
Costs increased for resumed travel/marketing and higher product liability reserves, partly offset by lower incentive compensation.

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 0.9

Omega Flex, Inc. reported twelve months ended December 31, 2022 results: revenue $ 125,487,000, net income $ 23,622,000, EPS $ 2.34.

Period: twelve months ended December 31, 2022
Revenue: $ 125,487,000
Net income: $ 23,622,000
EPS: $ 2.34
Result: reported results

Exact text from the filing

For the Period Ended December 31, Twelve Months Three Months 2022 2021 2022 2021 Net Sales $ 125,487,000 $ 130,011,000 $ 30,817,000 $ 35,457,000 Net Income attributable to Omega Flex, Inc. $ 23,622,000 $ 26,195,000 $ 6,181,000 $ 7,596,000 Earnings Per Share – Basic and Diluted $ 2.34 $ 2.60 $ 0.61 $ 0.75

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Omega Flex, Inc. reported three months ended December 31, 2022 results: revenue $ 30,817,000, net income $ 6,181,000, EPS $ 0.61.

Period: three months ended December 31, 2022
Revenue: $ 30,817,000
Net income: $ 6,181,000
EPS: $ 0.61
Result: reported results

Exact text from the filing

For the Period Ended December 31, Twelve Months Three Months 2022 2021 2022 2021 Net Sales $ 125,487,000 $ 130,011,000 $ 30,817,000 $ 35,457,000 Net Income attributable to Omega Flex, Inc. $ 23,622,000 $ 26,195,000 $ 6,181,000 $ 7,596,000 Earnings Per Share – Basic and Diluted $ 2.34 $ 2.60 $ 0.61 $ 0.75

View on SEC.gov

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Omega Flex, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-005786

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