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Mar 31, 2024
Omega Flex Q1 2024 Earnings Report
Net sales decreased due to lower sales unit volumes, and net income decreased due to lower net sales and production.
Key Takeaways
Omega Flex reported a decrease in net sales by 15.9% and a decrease in net income by 26.5% for the first quarter of 2024, primarily due to lower sales unit volumes and decreased production.
Net sales decreased by 15.9% compared to the first quarter of 2023.
Net income decreased by 26.5% compared to the first quarter of 2023.
Lower sales unit volumes were attributed to a decline in housing starts and overall market suppression.
Decreased production led to lower absorption of factory labor and overhead costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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