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Flexsteel Industries
Flexsteel Industries (FLXS) investor relations material
Flexsteel Industries Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary3 Feb, 2026
Executive summary
Net sales increased 9% year-over-year to $118.2 million for the quarter, driven by higher unit volume in sourced soft seating and tariff-related pricing, partially offset by declines in made-to-order and ready-to-assemble products.
Profitability improved with operating margin at 7.6%, reflecting disciplined cost management and operational agility.
Gross margin improved by 170 basis points to 22.7% due to favorable sales mix, despite tariff impacts.
Growth was driven by new product introductions, share gains with strategic accounts, and expansion into health and wellness and case goods markets.
Net income for the quarter was $6.6 million ($1.18 per diluted share), down from $9.1 million ($1.62 per diluted share) in the prior year, which included a one-time gain from asset sales.
Financial highlights
Gross profit for the quarter was $26.8 million, up from $22.8 million year-over-year.
GAAP operating income was $9.0 million (7.6% margin), down from $11.7 million (10.7% margin) in the prior year due to a prior-year gain on asset sale.
Adjusted operating income rose 35% year-over-year to $9.0 million (7.6% of sales), up from $6.7 million (6.1% of sales in prior year quarter).
Sales order backlog at quarter-end was $82.4 million, including estimated tariff surcharges, up 6.5% year-over-year.
Ended the quarter with $36.8 million in cash, $126 million in working capital, and no bank debt.
Outlook and guidance
Margin dilution is expected in the second half of FY2026 due to higher cost inventory burdened by 25% tariffs.
No forward-looking guidance provided due to uncertainty around demand and tariff impacts.
Management is actively evaluating cost reduction opportunities and alternative supply chain options to support long-term profitability.
Management continues to invest in growth initiatives, reflected in higher SG&A expenses.
Remains confident in ability to adapt to external changes and continue investing in growth and innovation.
Elaborate on made-to-order and RTA sales decline
What is the expected Q3 margin impact from tariffs?
Detail the assets disposed for the gain
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Next Flexsteel Industries earnings date
Q3 202621 Apr, 2026
Flexsteel Industries
Next Flexsteel Industries earnings date
Q3 202621 Apr, 2026
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Frequently asked questions
Flexsteel Industries, Inc. engages in the manufacture of upholstered and wood furniture for residential and contract markets in the United States. It provides sofas; love seats for living rooms; chairs for dining rooms; accent chairs for living rooms and dens; swivel rocker chairs for living rooms, dens, and family rooms; glider rockers for nursery rooms; stationary arm chairs for living rooms and dens; recliners for living rooms and dens. Flexsteel Industries, Inc. was founded in 1893 and is based in Dubuque, Iowa.
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