FLEXSTEEL INDUSTRIES INC (FLXS) Form 10-Q — Oct 28, 2026
Flexsteel Industries reported Q1 FY2027 net sales of $114.0 million, up 3.2% year over year, driven by $5.5 million growth in soft seating products. Profitability declined, however: net income fell to $5.4 million ($1.24 diluted EPS) from $7.3 million ($1.31) a year ago, as gross margin compressed 150 bps to 22.0% on unfavorable Mexican peso translation and elevated energy and fuel costs. Cash and equivalents dropped to $4.4 million from $16.7 million at fiscal year end, driven largely by $6.5 million of shares withheld for taxes on vesting, buybacks, and dividends.
Key figures
- Eps
- 1.24
- Revenue
- 113966000
- Guidance
- None provided
- Net Income
- 5424000
- Revenue Yoy
- 3.2%
- Total Assets
- 242509000
- Cash Position
- 4407000
- Shares Outstanding
- 4161973
- Backlog yoy
- 8.2% increase
- Gross margin
- 22.0% vs 23.5% prior year
- Effective tax rate
- 21.8%
- Dividends per share
- 0.25
- Sales order backlog
- 77700000
- Credit facility size
- 30000000
- Prior year net income
- 7327000
- Remaining buyback authorization
- 26399037
AI analysis
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