Flexsteel Industries Q1 Adj $0.14 Misses $0.24 Estimate, Sales $94.60M Miss $96.13M Estimate
Portfolio Pulse from Benzinga Newsdesk
Flexsteel Industries (NASDAQ:FLXS) reported Q1 earnings of $0.14 per share, missing the analyst consensus estimate of $0.24 by 41.67%. The company also reported quarterly sales of $94.60 million, missing the analyst consensus estimate of $96.13 million by 1.59%. Despite the misses, this represents a 55.56% increase in earnings and a 1.13% decrease in sales compared to the same period last year.
October 31, 2023 | 8:45 pm
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NEGATIVE IMPACT
Flexsteel Industries missed Q1 earnings and sales estimates. This could negatively impact the company's stock in the short term.
Investors often react to earnings misses by selling off the stock, which can lead to a decrease in the stock price. In this case, Flexsteel Industries missed both earnings and sales estimates, which could lead to a negative reaction from investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100