Flexsteel Industries reports Q4 adjusted EPS $1.40 vs 75c last yearv

Reports Q4 revenue $114.6M vs $110.8M last year. “Our strategies are working and drove strong results in the quarter,” said Derek Schmidt, CEO of Flexsteel Industries (FLXS), Inc. “While market conditions and macroeconomic uncertainty remain industry headwinds, we continued our growth momentum and delivered 3.4% sales growth in the quarter, which represents our seventh consecutive quarter of year-over-year growth. The sources of our growth remain diversified across our core business and new or expanded markets, and our continued investments in new product development, innovation, customer experience, and marketing are enabling our share gains. Additionally, we continue to drive meaningful profitability improvement and delivered an adjusted operating margin of 9% in the quarter, which represents our ninth consecutive quarter of year-over-year improvement and a 340 basis point increase compared to the prior year. Sales growth, operational productivity, and product portfolio management remain our key profit improvement levers.”