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Flexible Solutions (FSI) Q1 Earnings and Sales Top Estimates

Zacks Equity Research
·3-min read

Flexible Solutions International Inc. FSI recorded profits of $1.53 million or 12 cents per share for first-quarter 2022, compared with a profit of $1.45 million or 12 cents in the year-ago quarter. Earnings per share topped the Zacks Consensus Estimate of 4 cents.

The company registered revenues of around $10.8 million for the quarter, up roughly 41% year over year. The top line beat the Zacks Consensus Estimate of $9.4 million. The company delivered strong results in the quarter driven by strong contributions from all of its product lines.

Flexible Solutions International Inc. Price, Consensus and EPS Surprise

Flexible Solutions International Inc. Price, Consensus and EPS Surprise
Flexible Solutions International Inc. Price, Consensus and EPS Surprise

Flexible Solutions International Inc. price-consensus-eps-surprise-chart | Flexible Solutions International Inc. Quote

Segment Highlights

Sales from the company’s Energy and Water Conservation products for the reported quarter fell roughly 34% year over year to around $0.05 million, impacted by lower customer orders.

Sales of Biodegradable Polymers increased roughly 42% year over year to around $10.74 million in the quarter, aided by higher customer orders and increased pricing.

Financials

Flexible Solutions ended the quarter with cash and cash equivalents of roughly $5.4 million, down around 6% sequentially. Long-term debt was roughly $1.5 million at the end of the quarter, down around 5% on a sequential basis.

Outlook

Flexible Solutions said that it expects the next quarter to be good as well. However, there are lingering issues with international shipping for both price and availability, the company noted.

The company also noted that new opportunities continue to unfold in applications such as detergent, water treatment, oil field extraction and agriculture to further grow sales in the NanoChem division. Flexible Solutions also expects its cash resources to be adequate to meet its cash flow requirements and future commitments.

Price Performance

Shares of Flexible Solutions are down 24.5% over a year compared with the industry’s decline of 19.3%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Zacks Rank & Stocks to Consider

Flexible Solutions currently carries a Zacks Rank #3 (Hold).

Better-ranked stocks worth considering in the basic materials space include Steel Dynamics, Inc. STLD, Commercial Metals Company CMC and Nutrien Ltd. NTR.

Steel Dynamics, sporting a Zacks Rank #1 (Strong Buy), has an expected earnings growth rate of 28.6% for the current year. The Zacks Consensus Estimate for STLD's current-year earnings has been revised 43.8% upward over the last 60 days. You can see the complete list of today’s Zacks #1 Rank stocks here.

Steel Dynamics beat the Zacks Consensus Estimate for earnings in each of the last four quarters, the average being roughly 2.5%. STLD has gained around 16% in a year.

Commercial Metals, carrying a Zacks Rank #1, has a projected earnings growth rate of 78.2% for the current fiscal year. The Zacks Consensus Estimate for CMC's current fiscal year earnings has been revised 31.9% upward over the past 60 days.

Commercial Metals beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 16%, on average. CMC has gained around 12% in a year.

Nutrien, sporting a Zacks Rank #1, has an expected earnings growth rate of 161.9% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 38.8% upward over the last 60 days.

Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missed once. It has a trailing four-quarter earnings surprise of roughly 5.8%, on average. NTR has rallied around 66% in a year.


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