Quarterly ResultOct 26, 2026, 04:46 PM
Flexsteel Q1 Sales Up 3.2% to $114M; EPS Falls to $1.24
AI Summary
Flexsteel Industries announced its first quarter fiscal 2027 results, reporting a 3.2% increase in net sales to $114.0 million, driven by growth in its core Flexsteel brand. However, GAAP operating income and net income per diluted share declined compared to the prior year, impacted by foreign currency translation and inflationary pressures. The company is continuing its exit from the Homestyles ready-to-assemble category, which significantly reduced sales in that segment. Flexsteel also announced its financial outlook for the second quarter of fiscal 2027, expecting continued sales growth.
Key Highlights
- Flexsteel Industries reported Q1 FY27 net sales of $114.0 million, a 3.2% increase year-over-year.
- GAAP operating income was $6.9 million (6.0% of net sales) compared to $9.0 million (8.1% of net sales) in the prior year.
- GAAP net income per diluted share was $1.24, down from $1.31 in the prior year quarter.
- Sales of Flexsteel branded products increased 5.1% to $112.6 million.
- Homestyles ready-to-assemble product sales decreased 57.6% to $1.4 million as the company exits the category.
- Orders increased 5% and ending backlog grew 8.2% year-over-year.
- Company expects Q2 FY27 sales growth of 1% to 4% and operating margin of 6.5% to 7.0%.
Price Impact
More from FLXS