earnings
confidence high
sentiment negative
materiality 0.65
Omega Flex Q3 net sales down 9.5%; EPS $0.46 vs $0.55, net income falls 17.2%
Omega Flex, Inc.
2024-Q3 EPS reported
$1.32
revenue$74,716,000
- Nine-month net sales $74.7M, down 10.3% YoY; Q3 net sales $24.9M, down 9.5%.
- Nine-month net income $13.3M, down 16%; Q3 net income $4.6M, down 17.2%.
- Diluted EPS $1.32 YTD and $0.46 for Q3, vs $1.57 and $0.55 a year ago.
- Decline driven by lower unit volumes on suppressed housing starts and higher factory overhead from new leased facilities.
- Lower raw material costs partially offset the decreases.