Filing Flows › Flexsteel Industries (FLXS) › Q2 FY26
Flexsteel Industries (FLXS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Feb 4, 2026
Flexsteel Industries (FLXS) reported revenue of $118M for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +7% from the quarter before. Operating margin was 7.6%, net earnings $6.6M (5.6% of revenue).
Flexsteel Industries, Q2 FY26: revenue $118M (+9% year over year), operating margin 7.6%, net earnings $6.6M, operating cash flow $1.0M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | +7% | +9% |
| Gross profit | $26.8M | +3% | +18% |
| Operating profit | $9.0M | +0.1% | -23% |
| Net earnings | $6.6M | -9% | -27% |
| Operating cash flow | $1.0M | -76% | -85% |
What changed
Revenue was $118.2M in Q2 FY26, up 9% year over year and up 7% from the previous quarter.
Gross margin was 22.7%, up 1.7 points from a year earlier. Operating profit was $9.0M, a 7.6% margin (down 3.1 points year over year). Operating profit fell $2.7M even though revenue rose $9.8M versus a year earlier, so costs grew faster than sales. Operating expenses grew 60% against revenue growth of 9%. Net earnings were $6.6M, down 27% year over year. The effective tax rate was 28.9%.
Operating cash flow was $1.0M (down 85% year over year), 15% of net earnings. Non-cash charges added back $864K of depreciation and $1.1M of share-based compensation. Working capital and other items used $7.6M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$735K.
Questions
What was Flexsteel Industries' revenue in the second quarter fiscal 2026?
Flexsteel Industries (FLXS) reported revenue of $118M for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +7% from the quarter before.
Was Flexsteel Industries profitable in the second quarter fiscal 2026?
Operating profit was $9.0M (7.6% of revenue) and net earnings $6.6M.