earnings
confidence high
sentiment negative
materiality 0.70
Omega Flex reports 10.7% sales decline in H1 2024; net income down 15.4%
Omega Flex, Inc.
2024-Q2 EPS reported
$0.86
revenue$49,836,000
- Net sales for six months $49.8M, down 10.7% YoY; Q2 sales $24.6M, down 4.7%.
- Net income six months $8.7M, down 15.4%; Q2 net income $4.5M, down 1.3%.
- EPS six months $0.86 vs $1.02; Q2 EPS flat at $0.45 per share.
- Sales decline driven by lower unit volumes amid suppressed housing starts; lower raw material costs partially offset.