Flexsteel Industries Inc. reported adjusted earnings per share of $1.12 for the quarter ended March 31, beating the consensus estimate of $0.88 by $0.24. Revenue totaled $182.4 million, exceeding the $175.0 million forecast.
The furniture manufacturer attributed the outperformance to strong demand in its residential and commercial segments. Gross margin expanded to 32.1% from 30.5% in the prior-year period, reflecting improved pricing and operational efficiencies.
Flexsteel raised its full-year revenue guidance to a range of $720 million to $740 million, up from the prior forecast of $700 million to $720 million. Adjusted EPS guidance was maintained at $3.50 to $3.70.
Shares of Flexsteel were indicated up 4.2% in after-hours trading following the results. The company has not provided a formal earnings call transcript or additional commentary at this time.
