Omega Flex Q1 net income up 5.3% to $5.74M, sales down 4.2% to $29.99M

Omega Flex, Inc.

2024-Q1 EPS reported $0.57 revenue$29,987,000

EPS $0.57 vs $0.54 YoY; net income $5.74M vs $5.45M.
Net sales $29.99M, down 4.2% due to lower unit volumes tied to declining housing starts.
Gross profit improved from lower raw material costs, partially offsetting sales decline.
Management believes it maintained or slightly gained market share in Q1 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Omega Flex, Inc. reported Three Months Ended March 31, 2023 results: revenue $29,987,000, net income $5,742,000, EPS $0.57.

Period: Three Months Ended March 31, 2023
Revenue: $29,987,000
Net income: $5,742,000
EPS: $0.57
Result: reported results

Exact text from the filing

April 19, 2023 (610) 524-7272 PRESS RELEASE “Omega Flex, Inc. Announces First Quarter 2023 Earnings” OMEGA FLEX, INC. (OFLX) Three Months Ended March 31, 2023 2022 Net Sales $ 29,987,000 $ 31,293,000 Net Income attributable to Omega Flex, Inc. $ 5,742,000 $ 5,451,000 Earnings Per Share - Basic and Diluted $ 0.57 $ 0.54 Weighted Average Shares - Basic and Diluted

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Source: SEC EDGAR

accession 0001493152-23-012953

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