Flexsteel Industries, Inc. · NASDAQ:FLXS
Flexsteel Industries — Investor Presentation (August 2026)
39 slides from Flexsteel Industries's investor presentation, August 2026
Slide 1: Flexsteel Industries, Inc. (FLXS) Investor Presentation
August 2026 Flexsteel Industries, Inc. (FLXS) Investor Presentation
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This information contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended, that are based on management’s beliefs, assumptions, current expectations, estimate
Slide 3: Content
CONTENT 1. COMPANY OVERVIEW 2. OUR STRATEGY • COMPETITIVE ADVANTAGES & DIFFERENTIATION • GROWTH DRIVERS 3. INVESTMENT THESIS 4. FINANCIAL OUTLOOK 5. APPENDIX
Slide 4: 1. Company Overview
1. COMPANY OVERVIEW UPDATE
Slide 5: Why Invest in Flexsteel
WHY INVEST IN FLEXSTEEL A disciplined share gainer with a clear path to continued growth, margin expansion and strong cash flow Outgrowing the market through consistent share gains. Compelling future growth potential with an industry recovery. Differentiated operating model built on consumer insight
Slide 6: A Proven Model for Sustainable Growth and Value-Creation
A PROVEN MODEL FOR SUSTAINABLE GROWTH AND VALUE-CREATION Consistent Share Gains + Margin Expansion → Attractive Shareholder Returns Quarterly Year-over-Year Sales Growth Adjusted Operating Total Shareholder Return Margin (including Dividends) As of August 19, 2026 + → 7.5% 9.9% 7.1% 274% 9.0% 8.2% 8
Slide 7: Flexsteel at a Glance
FLEXSTEEL AT A GLANCE $459.2M Top 10 FY26 Sales U.S. Furniture Manufacturer ~1200 $34.4M Team Members FY26 Adjusted Operating Income +2700 Retail Stores & E-tailers 7.5% Selling Flexsteel FY26 Adjusted Operating Margin Hybrid Sourced / Manufactured $47.6M Supply Chain FY26 Free Cash Flow Target Mix:
Slide 8: Our Products
OUR PRODUCTS Growing, relevant product assortment with compelling value propositions to meet diverse consumer needs within the home. Growth opportunity: Expand penetration in the home beyond primary living areas. PRIMARY LIVING AREAS BEDROOM STORAGE / ORGANIZATION 83% 2% <1% of of of sales1 sales1 s
Slide 9: Our Sales Distribution
OUR SALES DISTRIBUTION Strong and broad omni-channel sales distribution across the US that positions our brands where and how consumers want to purchase furniture. Growth opportunity: Expand sales distribution and share with leading independent retailers and national accounts. I N D E P E N D E N T
Slide 10: Our Positioning
OUR POSITIONING Flexsteel addresses different market segments through our core brand, FlexsteelTM, and several category specific sub-brands: ZeclinerTM, StatementsTM, Zen, Perfect Match and PulseTM. Each has a unique value proposition tailored to specific consumer needs. Growth opportunity: Expand c
Slide 11: Our Operations
OUR OPERATIONS Advantaged global supply chain: diversified, efficient, agile and cost competitive. Ample capacity to support future growth with minimal investment. GLOBAL SOURCING NORTH AMERICA MANUFACTURING & DISTRIBUTION Boise, ID Edgerton Greencastle KS PA Huntingburg China: 0% Phoenix, AZ IN Cam
Slide 12: Our Leadership: Experienced and Results Driven
OUR LEADERSHIP: EXPERIENCED AND RESULTS DRIVEN Years of Experience: Total Furniture Industry Bob Bestercy David Crimmins Stacy Kammes Flexsteel VP, Global Logistics & Distribution Chief Growth Officer VP, Talent & Customer Experience 40 4 4 18 18 7 24 12 12 Michael McClaflin Mike Ressler Derek Schmi
Slide 13: Our Values
OUR VALUES FLEXSTEEL SONIBA SUO0O Consumer-Driven We put consumers at the center of every decision. Agility We adapt quickly to change and opportunity. Results Driven We deliver meaningful results and continuous improvement. Empowerment We trust our people to make great decisions. Unity We work as o
Slide 14: Our Approach to Responsible Business
OUR APPROACH TO RESPONSIBLE BUSINESS Committed to positively impacting healthy people, healthy communities, and a healthy planet. Key focus areas: Sustainable Products & Waste Reduction & Community Giving Employee Engagement & Packaging Recycling Development Environmental Stewardship Employee Volunt
Slide 15: 2. Our Strategy — Competitive Advantages & Differentiation
2. OUR STRATEGY — COMPETITIVE ADVANTAGES & DIFFERENTIATION
Slide 16: How We Win
HOW WE WIN A repeatable system for consumer relevance, meaningful differentiation, and advantaged execution. CONSUMER-DRIVEN AT OUR CORE INDUSTY-LEADING INNOVATION Defines where we focus Determines how we create value • Clear consumer segments & use cases • Bold bets tied to unmet consumer needs SUS
Slide 17: Our Differentiation
OUR DIFFERENTIATION We create strong consumer value with unmatched quality, comfort, and durability, all supported by innovation and compelling designs.
Slide 18: Example: Zecliner sleep chair
EXAMPLE 7% of U.S. adults can’t consistently sleep in a bed at night, but most furniture isn’t designed for sleep. The ZeclinerTM is a sleep chair that aesthetically fits into any living room or bedroom and is innovatively designed to sleep comfortably for 8+ hours as validated by independent sleep
Slide 19: 2. Our Strategy - Growth Drivers
2. OUR STRATEGY - GROWTH DRIVERS
Slide 20: Diverse and Balanced Portfolio of Growth Initiatives
DIVERSE AND BALANCED PORTFOLIO OF GROWTH INITIATIVES Dimension Core Markets New/Expanded Markets IN-STOCK SEATING HEALTH & WELLNESS Product Categories MADE-TO-ORDER SEATING CASEGOODS Sales STRATEGIC ACCOUNTS NATIONAL ACCOUNTS Distribution Consumer ESTABLISHED HOUSEHOLDS EARLY-STAGE HOUSEHOLDS Segmen
Slide 21: 3. Investment Thesis
3. INVESTMENT THESIS
Slide 22: Why Invest in Flexsteel
WHY INVEST IN FLEXSTEEL A disciplined share gainer with a clear path to continued growth, margin expansion and strong cash flow Outgrowing the market through consistent share gains. Compelling future growth potential with an industry recovery. Differentiated operating model built on consumer insight
Slide 23: A Disciplined Share Gainer
A DISCIPLINED SHARE GAINER 11 consecutive quarters of year-over-year growth despite challenging industry conditions Furniture Retail Sales Growth Quarterly Year-over-Year Sales Growth 11.4% 7.6% 7.2% 7.2% 5.5% 4.4% 3.7% 3.5% 2.9% 3.1% 2.7% 1.3% -0.1% -0.2% -0.2% -0.3% -1.0% -1.1% -1.2% -1.6% -2.5% -
Slide 24: Long-Term Industry Outlook
LONG-TERM INDUSTRY OUTLOOK Despite near-term headwinds, conditions are favorable to long-term industry growth driven by healthy long-term demand for housing and consumer generational shifts Housing Demand US Population by Generation Housing production has not kept up with population growth and new A
Slide 25: Margin Expansion Potential
MARGIN EXPANSION POTENTIAL Strong profit improvement with compelling outlook for continued margin expansion. Adjusted Operating Margin Margin Drivers 1. Sales Growth Leverage 2. Mix Improvement: Higher Margin New Product 7.5% +8.0% 3. Operational Excellence: 7.1% Continuous Improvement + Cost Saving
Slide 26: Earnings Momentum
EARNINGS MOMENTUM Consistent sales growth and margin improvement driving significant earnings momentum. Adjusted Diluted Earnings Per Share 4.94 4.17 2.11 0.64 0.87 FY22 FY23 FY24 FY25 FY26
Slide 27: Effective Capital Management
EFFECTIVE CAPITAL MANAGEMENT Low capital expenditure requirements (≤1% of sales) and well-managed inventory support continued free cash flow generation. Capital Expenditures Inventory ($ millions) ($ millions) 141.2 4.8 4.8 122.1 3.9 3.9 96.6 90.6 3.3 89.1 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY2
Slide 28: Strong Cash Generation
STRONG CASH GENERATION Sales growth, improved profitability and effective capital management generating meaningful free cash flow and strengthening the balance sheet. Free Cash Flow Net Cash (Debt) ($ millions) ($ millions) 40.0 16.7 46.4 47.6 (0.1) 31.3 (24.9) (35.6) 18.5 6.1 FY22 FY23 FY24 FY25 FY
Slide 29: Disciplined Capital Allocation
DISCIPLINED CAPITAL ALLOCATION Demonstrated history of returning excess capital to shareholders. Long-term capital prioritization focused on business reinvestment and growth opportunities with high ROI. Capital Allocation Priorities Return of Capital (FY20-26 YTD) ($ millions) ~60% Business Reinvest
Slide 30: 4. Financial Outlook
4. FINANCIAL OUTLOOK
Slide 31: Longer-Term Financials
LONGER-TERM FINANCIALS Longer-Term FY24 FY25 FY26 Aspiration** Net Sales Up to $750 $413 $441 $458 ($ millions) (with acquisitions) Adjusted Operating 4.4% 7.1% 7.5% 8.0%+ Margin Adjusted Diluted $2.11 $4.17 $4.94 $9.50+ Earnings Per Share Free Cash Flow $31 $46 $48 $45+ ($ millions) ** Forward-look
Slide 32: Thank You
Thank You
Slide 33: 5. Appendix
5. APPENDIX
Slide 34: Non-GAAP Disclosures (Unaudited)
NON-GAAP DISCLOSURES (UNAUDITED) The Company is providing information regarding adjusted operating income and adjusted diluted earnings per share of common stock, which are not recognized terms under U.S. Generally Accepted Accounting Principles (“GAAP”) and do not purport to be alternatives to oper
Slide 35: FY26 Non-GAAP Disclosures (Unaudited)
FY26 NON-GAAP DISCLOSURES (UNAUDITED) The following table sets forth the reconciliation of the Company’s reported quarterly and annual GAAP operating income to the calculation of adjusted operating income for fiscal year ended June 30, 2026: % of % of % of % of % of (in thousands) Q1 Q2 Q3 Q4 FY26 S
Slide 36: FY25 Non-GAAP Disclosures (Unaudited)
FY25 NON-GAAP DISCLOSURES (UNAUDITED) The following table sets forth the reconciliation of the Company’s reported quarterly and annual GAAP operating income to the calculation of adjusted operating income for fiscal year ended June 30, 2025: % of % of % of % of % of (in thousands) Q1 Q2 Q3 Q4 FY25 S
Slide 37: FY24 Non-GAAP Disclosures (Unaudited)
FY24 NON-GAAP DISCLOSURES (UNAUDITED) The following table sets forth the reconciliation of the Company’s reported quarterly and annual GAAP operating income to the calculation of adjusted operating income for fiscal year ended June 30, 2024: % of % of % of % of % of (in thousands) Q1 Q2 Q3 Q4 FY24 S
Slide 38: FY23 Non-GAAP Disclosures (Unaudited)
FY23 NON-GAAP DISCLOSURES (UNAUDITED) The following table sets forth the reconciliation of the Company’s reported quarterly and annual GAAP operating income to the calculation of adjusted operating income for fiscal year ended June 30, 2023: % of % of % of % of % of (in thousands) Q1 Q2 Q3 Q4 FY23 S
Slide 39: FY22 Non-GAAP Disclosures (Unaudited)
FY22 NON-GAAP DISCLOSURES (UNAUDITED) The following table sets forth the reconciliation of the Company’s reported quarterly and annual GAAP operating income to the calculation of adjusted operating income for fiscal year ended June 30, 2022: % of % of % of % of % of (in thousands) Q1 Q2 Q3 Q4 FY22 S
Flexsteel Industries — Investor Presentation (August 2026) on 6ix