F. Brooks Bertsch
F. Brooks Bertsch resigned from the Board pursuant to the terms of the Stock Repurchase Agreement.
Highest-materiality recent filing
Flexsteel repurchases ~24% of shares from Bertsch family for $60.2M; director resigns
Repurchased 1,279,870 shares at $47.00 each, a 2.5% discount to April 24 closing price.
Flexsteel Q3 net sales $115.1M (+1%), GAAP operating income $8.2M vs loss year ago
GAAP EPS $1.14 vs loss of ($0.71) in prior year; adjusted EPS $1.14 vs $1.13.
Flexsteel Q2 sales up 9% to $118.2M; adj. EPS $1.18 vs $0.95 YoY
Net sales $118.2M, +9.0% YoY; driven by higher volume in sourced soft seating and tariff surcharges.
Flexsteel Q1 net sales up 6.2% to $110.4M; EPS $1.31 vs $0.74; warns of tariff headwinds
Net sales $110.4M (+6.2% YoY); GAAP diluted EPS $1.31 vs $0.74; operating margin 8.1% vs 5.8%.
Flexsteel Q4 FY2025: sales up 3.4%, record adj. EPS $1.40; FY adj. EPS $4.17
Net sales Q4 $114.6M (+3.4% YoY); FY $441.1M (+6.9% YoY).
Flexsteel Q3 net sales $114M (+6.3% YoY); GAAP loss $0.71/sh on $14.1M impairment; adj. EPS $1.13
Net sales $114.0M, up 6.3% YoY, sixth consecutive quarter of year-over-year growth.
Flexsteel Q2 sales up 8.4% to $108.5M; raises FY2025 sales guidance but flags tariff uncertainty.
GAAP EPS $1.62 vs $0.57; adjusted EPS $0.95 vs $0.57; GAAP operating margin 10.7%.
Flexsteel Q1 net sales up 10% to $104M; EPS $0.74 vs $0.14; raises FY guidance
GAAP net income $4.1M ($0.74/diluted share) vs $0.8M ($0.14) YoY.
Flexsteel Industries Reports Fiscal Q4 2024 Sales Growth of 4.7% and Operating Income Increase
Net sales rose 4.7% to $110.8M in Q4; full-year sales up 4.8% to $412.8M.
Flexsteel Q3 sales up 8.2% to $107.2M; appoints Derek Schmidt as CEO effective July 1
Net sales of $107.2M, +8.2% YoY; GAAP EPS $0.33, adjusted EPS $0.67.
Flexsteel appoints heir F. Brooks Bertsch as board observer; VP Tim Newlin to depart April 30
Bertsch, fifth-generation heir and partner at Intersect Wealth Advisors, appointed non-voting board observer effective April 17.
Flexsteel Q2 sales up 7.5% to $100.1M, EPS $0.57; closing Dublin plant for annual savings of $4-4.5M
Q2 net sales $100.1M (+7.5% YoY); GAAP EPS $0.57, non-GAAP EPS $0.57 vs $0.08 prior year.
Flexsteel Q2 preliminary sales $100.1M (+7.5%), EPS $0.57; guides FY25 margin 5.5-6.5%
Preliminary Q2 net sales $100.1M (+7.5% YoY), orders $104.8M (+13.9%); gross margin 21.9% vs 17.0%.
Flexsteel Q1 FY2024 EPS $0.14 (vs $0.05); sales $94.6M, down 1.1% YoY
GAAP diluted EPS $0.14 vs $0.05 prior year; non-GAAP diluted EPS $0.14 vs $0.09.
Flexsteel Q4 sales fall 15% YoY to $105.8M; GAAP EPS $1.91 on tax benefit, adj EPS $0.36
Q4 net sales $105.8M (-15% YoY); FY net sales $393.7M (-27.7% YoY).
Flexsteel Q3 net sales $99.1M (-29.5% YoY); EPS $0.28 vs $0.82; gross margin expands to 18.8%
Net sales $99.1M, down 29.5% YoY from $140.4M, but up 6.4% sequentially from Q2.
Flexsteel settles EPA Superfund dispute for $9.8M, disputes liability but achieves finality
$9.8M cash settlement with EPA for Lane Street Groundwater Contamination Superfund Site in Elkhart, Indiana.
Flexsteel Q1 net sales down 30.5% to $95.7M; GAAP EPS $0.05 vs $0.61 prior
Net sales of $95.7M beat guidance of $80-90M; home furnishings retail -31.1% YoY.
Flexsteel Board Unanimously Rejects $20.80/Share Unsolicited Takeover Bid from CSC Generation
Board unanimously rejected CSC Generation's unsolicited proposal of $20.80 per share in cash.
Flexsteel confirms unsolicited $20.80/share cash proposal from CSC Generation Holdings
Flexsteel received unsolicited preliminary non-binding proposal from CSC Generation Holdings to acquire all shares for $20.80 per share in cash.
Flexsteel Q4 sales down 8.6% to $124.5M; GAAP net loss $0.05/sh, adjusted EPS $0.41
Q4 net sales $124.5M vs $136.2M prior year; full-year sales $544.3M up 13.6%.
Flexsteel appoints Alejandro Huerta as CFO, Treasurer & Secretary effective June 1, 2022
Annual base salary of $290,000; eligible for cash incentive at 50% of base (target) and LTIP at 50% of base in shares.
Flexsteel Q3 FY2022: net sales up 18.6% to $140.4M, GAAP EPS $0.82
GAAP net income $5.3M ($0.82 diluted EPS) vs $4.9M ($0.67) prior year; non-GAAP EPS $0.81 vs $0.72.
Flexsteel buys 765,000 shares via block trade at $18.71; $15.7M authorization left
Purchased 765,000 shares at $18.71 per share on March 15, 2022 via block trade.
Flexsteel Q2 net loss of $7.5M; sales up 18.9% but margins crushed by supply chain costs
GAAP diluted EPS $(1.13) vs $1.13 a year ago; non-GAAP diluted EPS $(1.05) vs $0.79.
Flexsteel raises Q2 revenue guidance but expects operating loss on supply chain costs
Q2 revenue guidance raised to $137-143M (mid-point $140M, 17.5% YoY growth).
Flexsteel Q1 sales up 30.8% to $137.7M; GAAP EPS $0.61, non-GAAP $0.48 vs $0.80
Net sales $137.7M (+30.8% YoY); retail home furnishings backlog $133M (+56.5% YoY).
Flexsteel Q4 sales up 110% YoY to $136.2M, GAAP EPS $0.81 vs loss year ago; record backlog $152M
Q4 net sales $136.2M (+110.1% YoY); full-year $478.9M (+30.5%).
F. Brooks Bertsch resigned from the Board pursuant to the terms of the Stock Repurchase Agreement.
Effective May 21, 2025, the Board of Directors (the “Board”) of Flexsteel Industries, Inc. (the “Company”) appointed Terence P. Calloway to the Board.
On April 29, 2024, Flexsteel Industries, Inc. (the “Company”) announced the appointment of Derek P. Schmidt to the position of Chief Executive Officer effective on July 1, 2024.
Mr. Schmidt will succeed Jerald K. Dittmer who has announced his resignation from the position of Chief Executive Officer effective June 30, 2024, and retirement from the Company on December 31, 2024.
The Company has announced that Timothy P. Newlin, VP – Strategic Business Development’s last day with the Company will be on April 30, 2024.
On January 10, 2024, Flexsteel Industries, Inc. (the “Company”) announced that Michael J. Ressler has been promoted to assume the role of Chief Financial Officer, Treasurer & Secretary effective immediately.
Mr. Schmidt will also be appointed to the Company’s Board of Directors effective January 10, 2024.
Mr. Schmidt was promoted to the position of President to reflect the level of responsibility he holds for the Company’s operations and growth strategy.
On January 9, 2024, Matt Kaness notified the Company that he is resigning from the Board of Directors effective immediately due to a need to focus on his primary professional commitments and to consider other opportunities.
On January 10, 2024, in connection with Derek P. Schmidt being appointed President, Jerald K. Dittmer is relinquishing his position as President and will continue to serve as the Chief Executive Officer.
On October 9, 2023, Mary C. Bottie gave the Board of Directors (the “Board”) of Flexsteel Industries, Inc. (the “Company”) notice that she intends to resign from the Board effective at the conclusion of the Board meeting to be held December 13, 2023.
On May 26, 2023, G. Alejandro Huerta, Chief Financial Officer and Principal Financial and Accounting Officer of the Company, submitted his resignation to pursue another opportunity.
Max materiality 0.85 · Median 0.68 · Most common event earnings