Omega Flex reports FY2023 revenue down 11.2%; EPS falls to $2.06 from $2.34

Omega Flex, Inc.

Net sales $111.5M for FY2023, down 11.2% vs $125.5M in FY2022.
Net income $20.8M, down 12.1%; diluted EPS $2.06 vs $2.34.
Q4 net sales $28.1M, down 8.7% YoY; Q4 EPS $0.48 vs $0.61.
Decline driven by lower unit volumes due to suppressed housing starts, partially offset by lower product liability reserves and marketing costs.

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, 2023 results: revenue $111,465,000, net income $20,763,000, EPS $2.06.

Period: twelve months ended December 31, 2023
Revenue: $111,465,000
Net income: $20,763,000
EPS: $2.06
Result: reported results

Exact text from the filing

“Omega Flex, Inc. Announces Fourth Quarter 2023 Earnings” OMEGA FLEX, INC. (OFLX) For the Period Ended December 31, Twelve Months Three Months 2023 2022 2023 2022 Net Sales $ 111,465,000 $ 125,487,000 $ 28,147,000 $ 30,817,000 Net Income attributable to Omega Flex, Inc. $ 20,763,000 $ 23,622,000 $ 4,889,000 $ 6,181,000 Earnings Per Share – Basic and Diluted $

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Omega Flex, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-009023

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