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Flexsteel Industries, Inc. Reports Fiscal Third Quarter 2026 Results
DUBUQUE, Iowa--(BUSINESS WIRE)-- Flexsteel Industries, Inc. (NASDAQ: FLXS) (“Flexsteel” or the “Company”), one of the largest manufacturers, importers, and
About this update from Flexsteel Industries, Inc.
[{"type":"text","content":" DUBUQUE, Iowa--(BUSINESS WIRE)--\nFlexsteel Industries, Inc. (NASDAQ: FLXS) (“Flexsteel” or the “Company”), one of the largest manufacturers, importers, and marketers of residential furniture products in the United States, today reported third quarter fiscal 2026 results.\n\n\nKey Results for the Third Quarter Ended March 31, 2026\n\n\n\nNet sales for the quarter of $115.1 million compared to $114.0 million in the prior year quarter, an increase of 1.0%.\n\n\n\nGAAP operating income of $8.2 million or 7.1% of net sales compared to an operating loss of ($5.1) million or (4.4%) of net sales in the prior year quarter.\n\n\nAdjusted operating income of $8.2 million or 7.1% of net sales for the third quarter compared to $8.3 million or 7.3% of net sales in the prior year quarter.\n\n\n\n\n\n\nGAAP net income per diluted share of $1.14 for the current quarter compared to net loss of ($0.71) in the prior year quarter.\n\n\nAdjusted net income per diluted share of $1.14 for the quarter compared to $1.13 in the prior year quarter.\n\n\n\n\n\n\nGAAP to non-GAAP reconciliations follow the financial statements in this press release\n\n\nManagement Commentary\n\n\n“I’m encouraged by how our team continues to execute in a challenging and dynamic operating environment,” said Derek Schmidt, CEO of Flexsteel Industries, Inc. “During the third quarter, we delivered relatively stable year-over-year sales performance and maintained a healthy operating margin of approximately 7 percent. While demand softened as the quarter progressed, particularly following the onset of the conflict in the Middle East, our results reflect the operating discipline we’ve built into the business and our ability to respond with agility as conditions evolve. Importantly, our core growth drivers, including new product introductions, strategic account relationships, and our health and wellness category, continued to perform well, albeit at more moderate growth levels than in prior quarters.”\n\n\nMr. Schmidt continued, “Order trends were choppy throughout the quarter, with early-quarter performance impacted by severe weather and a more pronounced slowdown emerging more recently as macroeconomic uncertainty increased with current developments in Iran. Retail partners are taking a more cautious approach to inventory, and consumer demand remains inconsistent as confidence ha...