Omega Flex Q2 net sales down 18.6% YoY; EPS $0.45 vs $0.54

Omega Flex, Inc.

2023-Q2 EPS reported $1.02 revenue$55,822,000

Q2 2023 net sales $25.8M, down 18.6% from $31.7M; net income $4.6M ($0.45 EPS) vs $5.5M ($0.54 EPS) YoY.
Six-month net sales $55.8M, down 11.5%; net income $10.3M ($1.02 EPS), down 5.5% from $10.9M ($1.08 EPS).
Volume decline attributed to suppressed overall market, particularly decline in housing starts.
Lower product liability reserves and reduced incentive compensation partially offset sales drop; higher interest income also helped.

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 June 30, 2023 results: revenue $25,835,000, net income $4,556,000, EPS $0.45.

Period: Three Months Ended June 30, 2023
Revenue: $25,835,000
Net income: $4,556,000
EPS: $0.45
Result: reported results

Exact text from the filing

Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Net Sales $ 55,822,000 $ 63,041,000 $ 25,835,000 $ 31,748,000 Net Income attributable to Omega Flex, Inc. $ 10,298,000 $ 10,901,000 $ 4,556,000 $ 5,450,000 Earnings Per Share – Basic and Diluted $ 1.02 $ 1.08 $ 0.45 $ 0.54

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Omega Flex, Inc. reported Six Months Ended June 30, 2023 results: revenue $55,822,000, net income $10,298,000, EPS $1.02.

Period: Six Months Ended June 30, 2023
Revenue: $55,822,000
Net income: $10,298,000
EPS: $1.02
Result: reported results

Exact text from the filing

Six Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 Net Sales $ 55,822,000 $ 63,041,000 $ 25,835,000 $ 31,748,000 Net Income attributable to Omega Flex, Inc. $ 10,298,000 $ 10,901,000 $ 4,556,000 $ 5,450,000 Earnings Per Share – Basic and Diluted $ 1.02 $ 1.08 $ 0.45 $ 0.54

View on SEC.gov

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Omega Flex, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-024932

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