---
schema_version: "secwatch.filing_event.v1"
accession: "0001562762-21-000371"
form_type: "8-K"
ticker: "FLXS"
cik: "0000037472"
company_name: "FLEXSTEEL INDUSTRIES INC"
filed_at: "2021-10-25T23:59:59+00:00"
generated_at: "2026-06-28T18:36:06.332597+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Flexsteel Q1 sales up 30.8% to $137.7M; GAAP EPS $0.61, non-GAAP $0.48 vs $0.80

## Summary
- Net sales $137.7M (+30.8% YoY); retail home furnishings backlog $133M (+56.5% YoY).
- GAAP net income $4.35M ($0.61/diluted share); adjusted net income $3.4M ($0.48/diluted share).
- Gross margin fell 470 bps to 17.0% due to supply chain costs (material, labor, freight).
- New Mexicali plant construction started (507,800 sq ft, completion June 2022); Juarez plant ramping.
- Inventory at $193.7M (+174.5% over 15 months); new Greencastle, PA DC opening February 2022.

## SEC filing metadata
- accession: 0001562762-21-000371
- form_type: 8-K
- ticker: FLXS
- cik: 0000037472
- company_name: FLEXSTEEL INDUSTRIES INC
- filed_at: 2021-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/37472/000156276221000371/0001562762-21-000371-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/37472/000156276221000371/flxs-20211025x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001562762-21-000371
- JSON: https://secwatch.observer/filing/0001562762-21-000371.json
- Plain text: https://secwatch.observer/filing/0001562762-21-000371.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.