Filing Flows › Flexsteel Industries (FLXS) › Q1 FY27
Flexsteel Industries (FLXS) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Oct 28, 2026
Flexsteel Industries (FLXS) reported revenue of $114M for the first quarter fiscal 2027 (Q1 FY27), +3% from a year earlier and -1% from the quarter before. Operating margin was 6.0%, net earnings $5.4M (4.8% of revenue).
Flexsteel Industries, Q1 FY27: revenue $114M (+3% year over year), operating margin 6.0%, net earnings $5.4M, operating cash flow −$1.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $114M | -1% | +3% |
| Gross profit | $25.1M | -28% | -3% |
| Operating profit | $6.9M | -58% | -23% |
| Net earnings | $5.4M | -57% | -26% |
| Operating cash flow | −$1.5M | -106% | -136% |
What changed
Revenue was $114.0M in Q1 FY27, up 3% year over year and down 1% from the previous quarter. Flexsteel Brand was the largest line at 99% of revenue. Flexsteel Brand added $5.4M year over year (up 5%), 153% of the total change. Homestyles Brand declined 57%.
Gross margin was 22.0%, down 1.5 points from Q1 FY26. Operating profit was $6.9M, a 6.0% margin (down 2.1 points year over year). Operating profit fell $2.1M even though revenue rose $3.5M versus Q1 FY26, so costs grew faster than sales. Operating expenses grew 7% against revenue growth of 3%. Net earnings were $5.4M, down 26% year over year. The effective tax rate was 21.8%.
Operating cash flow was −$1.5M. Non-cash charges added back $1.1M of depreciation and $1.1M of share-based compensation. Working capital and other items used $9.1M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$2.4M.
Questions
What was Flexsteel Industries' revenue in the first quarter fiscal 2027?
Flexsteel Industries (FLXS) reported revenue of $114M for the first quarter fiscal 2027 (Q1 FY27), +3% from a year earlier and -1% from the quarter before.
Was Flexsteel Industries profitable in the first quarter fiscal 2027?
Operating profit was $6.9M (6.0% of revenue) and net earnings $5.4M.