Published on 29 Apr 2024 on GuruFocus.com via Yahoo Finance
Flexsteel Industries Inc (FLXS) Surpasses Analyst Revenue Forecasts with Strong Q3 Performance
Revenue: Reported at $107.2 million, up 8.2% year-over-year, surpassing estimates of $102.11 million.Net Income: Reached $1.8 million, compared to $1.5 million in the prior year quarter, falling short of estimates of $3.04 million.Earnings Per Share (EPS): GAAP EPS at $0.33, below the estimated $0.56; adjusted EPS at $0.67, showing significant growth from $0.28 year-over-year.Gross Margin: Expanded significantly to 21.7% from 18.8% in the prior year quarter, indicating improved operational efficiency.Operating Income: GAAP operating income increased to $3.0 million from $2.1 million in the prior year quarter; adjusted operating income more than doubled to $5.6 million.Debt Reduction: Achieved a 21% reduction in borrowings under the line of credit, emphasizing strong financial management.Cash Flow: Generated $7.2 million from operations during the quarter, contributing to a robust year-to-date total of $24.4 million.
Warning! GuruFocus has detected 9 Warning Signs with FLXS.