Flexsteel Industries (NASDAQ:FLXS) Posts Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Key Points

• Q1 EPS beat: Flexsteel reported quarterly EPS of $1.14, beating the $0.88 estimate by $0.26, and posted a return on equity of 16.67% with a net margin of 4.58%.
• Shares fell to $46.25 on the report despite the beat, trading above average volume (76,848 vs. 38,815); the company has a market cap of $247.4M, a P/E of 12.6 and a 12‑month range of $29.38–$59.95.
• Dividend and sentiment: Flexsteel paid a $0.20 quarterly dividend (annualized $0.80, yield 1.7%, DPR 21.8%), while analyst coverage is mixed and the consensus rating remains a "Hold."

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) released its quarterly earnings data on Monday. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.26, Zacks reports. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%.

Flexsteel Industries Stock Performance

Shares of FLXS stock traded down $0.39 during mid-day trading on Monday, hitting $46.25. 76,848 shares of the stock traded hands, compared to its average volume of 38,815. Flexsteel Industries has a twelve month low of $29.38 and a twelve month high of $59.95. The firm has a market cap of $247.44 million, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. The company's 50-day simple moving average is $49.04 and its 200-day simple moving average is $43.01.

Flexsteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Flexsteel Industries's dividend payout ratio (DPR) is 21.80%.

Analyst Upgrades and Downgrades

FLXS has been the topic of several analyst reports. Wall Street Zen upgraded Flexsteel Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 7th. Weiss Ratings restated a "hold (c+)" rating on shares of Flexsteel Industries in a research report on Friday, March 27th. Finally, Zacks Research cut Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Flexsteel Industries presently has a consensus rating of "Hold".

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in shares of Flexsteel Industries by 11.1% during the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the company's stock valued at $119,000 after buying an additional 303 shares in the last quarter. Barclays PLC grew its holdings in shares of Flexsteel Industries by 6.4% during the fourth quarter. Barclays PLC now owns 5,527 shares of the company's stock valued at $218,000 after buying an additional 333 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Flexsteel Industries by 24.7% during the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company's stock valued at $92,000 after buying an additional 395 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Flexsteel Industries by 4.1% during the second quarter. First Trust Advisors LP now owns 11,745 shares of the company's stock valued at $423,000 after buying an additional 467 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Flexsteel Industries by 149.6% during the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company's stock valued at $45,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company's stock.

About Flexsteel Industries

Flexsteel Industries, Inc NASDAQ: FLXS is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel's upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.