Omega Flex (OFLX) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 were $101.7M, down 8.8% year-over-year, mainly due to lower sales volumes and a decline in housing starts.

• Net income for 2024 was $18.0M, a decrease of 13.2% compared to 2023.

• Fourth quarter 2024 net sales and net income both declined 4.2% compared to the same quarter last year.

Financial highlights

• Twelve-month net sales: $101.7M (2024) vs. $111.5M (2023).

• Twelve-month net income: $18.0M (2024) vs. $20.8M (2023).

• Q4 net sales: $27.0M (2024) vs. $28.1M (2023).

• Q4 net income: $4.7M (2024) vs. $4.9M (2023).

• EPS for 2024: $1.78 vs. $2.06 in 2023; Q4 EPS: $0.46 vs. $0.48 in prior year.

Outlook and guidance

• Management notes ongoing market suppression and uncertainty, particularly due to lower housing starts.

• Forward-looking statements caution about risks and uncertainties affecting future results.