Flexsteel Industries, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, reporting first-quarter fiscal results including net sales of $113,966 thousand and diluted earnings per share of $1.24.

Key Highlights

  • Net sales of $113,966 thousand for the three months ended September 30, 2026, compared to $110,439 thousand in the same period of the prior year, according to the filing.
  • Net income of $5,424 thousand for the quarter, down from $7,327 thousand in the three months ended September 30, 2025, as reported.
  • Diluted EPS of $1.24 on 4,365 thousand weighted average diluted shares, compared to diluted EPS of $1.31 on 5,598 thousand shares in the prior-year quarter.
  • Gross profit of $25,096 thousand against cost of goods sold of $88,870 thousand, versus gross profit of $25,946 thousand in the prior-year quarter.
  • Cash and cash equivalents declined to $4,407 thousand as of September 30, 2026, from $16,678 thousand at June 30, 2026, with net cash used in operating activities of $1,465 thousand.
  • Treasury stock purchases of $2,184 thousand during the quarter, with 4,550 thousand shares held in treasury as of September 30, 2026.
  • Shares outstanding of 4,161,973 as of October 28, 2026, per the cover page of the filing.

Flexsteel Reports First-Quarter Fiscal 2027 Financial Results

According to the 10-Q filed with the SEC, Flexsteel Industries, Inc. (NASDAQ:FLXS) reported net sales of $113,966 thousand for the three months ended September 30, 2026, an increase from $110,439 thousand for the same period in the prior fiscal year. Cost of goods sold rose to $88,870 thousand from $84,493 thousand, resulting in gross profit of $25,096 thousand compared to $25,946 thousand a year earlier. Selling, general and administrative expenses increased to $18,202 thousand from $16,959 thousand, and operating income declined to $6,894 thousand from $8,987 thousand in the prior-year quarter.

The filing reported income before income taxes of $6,937 thousand and an income tax provision of $1,513 thousand, yielding net income of $5,424 thousand. Basic earnings per share were $1.32, and diluted earnings per share were $1.24, compared to basic EPS of $1.38 and diluted EPS of $1.31 for the three months ended September 30, 2025. The weighted average diluted share count decreased to 4,365 thousand from 5,598 thousand year over year, reflecting the impact of ongoing share repurchases, as noted in the equity statements.

On the balance sheet, total assets were $242,509 thousand as of September 30, 2026, down from $254,009 thousand at June 30, 2026. Inventories stood at $92,783 thousand, up from $90,593 thousand at the prior fiscal year-end. Total shareholders' equity was $132,057 thousand at quarter-end, compared to $133,495 thousand at June 30, 2026. The company declared cash dividends of $1,051 thousand during the quarter. Net cash used in financing activities totaled $9,856 thousand, which included $6,540 thousand in shares withheld for tax payments on vested shares and options exercised, $2,184 thousand in treasury stock purchases, and $1,132 thousand in dividends paid, partially offset by net draws and repayments on a line of credit each totaling $3,000 thousand.

What Was Disclosed

Flexsteel Industries filed its quarterly report covering the three months ended September 30, 2026, disclosing income statement, balance sheet, cash flow, and shareholders' equity data, with net sales of $113,966 thousand, net income of $5,424 thousand, and period-end cash of $4,407 thousand.