Headquartered in Dubuque, IA Fiscal year ends June NASDAQ: FLXS flexsteel.com
Flexsteel Industries, Inc. is one of the largest residential furniture manufacturers, importers, and marketers in the United States with over 130 years of history. The company operates through its core Flexsteel brand and several category-specific sub-brands including Zecliner, Flexsteel Statements, Zen, Perfect Match, and Flexsteel Pulse. Flexsteel offers a wide assortment of residential furniture products including stationary and motion sofas, loveseats, chairs, sectionals, bedroom furniture, dining tables and chairs, occasional and entertainment tables, and kitchen storage. The company's products are differentiated by its patented Blue Steel Spring technology, designed to deliver lasting comfort and support. Flexsteel is currently exiting its Homestyles ready-to-assemble product category to focus on its core branded furniture business. The company has manufacturing operations in Mexico with peso-denominated cost exposure. Products are distributed nationwide through retail partners and online channels. The company trades on NASDAQ under the ticker FLXS. Updated
Cost inflation, not demand, is now the binding constraint: earnings of $1.24 narrowly missed expectations as ocean freight rates and a peso translation hit squeezed gross margin to 22.0%. Orders and backlog both expanded, so the pressure is on the cost line.
Flexsteel Industries, Inc. is one of the largest residential furniture manufacturers, importers, and marketers in the United States with over 130 years of history.
The Wall Street consensus 12-month price target for FLXS is $82.50.