FSI reports Q2 2023 net income down 51% YoY; CEO expects full-year revenue flat to down

FLEXIBLE SOLUTIONS INTERNATIONAL INC

2023-Q2 EPS reported $0.14 revenue$20,178,808

Q2 2023 revenue $10.33M (-7% YoY); net income $809,865 ($0.07 EPS) vs $1.66M ($0.13 EPS) in Q2 2022.
CEO cites higher cost of goods, lower sales, and product mix; predicted rebound did not occur.
Full-year 2023 revenue expected flat to mildly down compared to 2022.
6-month non-GAAP operating cash flow $3.22M ($0.26/share) vs $4.42M ($0.36/share) in prior year.
NanoChem division and ENP subsidiary remain dominant revenue and cash flow sources.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FLEXIBLE SOLUTIONS INTERNATIONAL INC reported second quarter ended June 30, 2023 results: revenue $10,331,291, net income $809,865, EPS $0.07 per share.

Period: second quarter ended June 30, 2023
Revenue: $10,331,291
Net income: $809,865
EPS: $0.07 per share
Result: reported results

Exact text from the filing

“We are observing headwinds in most of our markets now and expect full year revenue to be flat to mildly down compared to 2022.” ● Sales for the second quarter (Q2) were $10,331,291, down approximately 7% when compared to sales of $11,165,143 in the corresponding period a year ago. ● Q2, 2023 net income was $809,865, or $0.07 per share, compared to a net

View on SEC.gov

Browse all earnings releases →

FLEXIBLE SOLUTIONS INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001493152-23-029101

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.