Omega Flex Stock Rises 8% Despite Q4 Earnings Falling Y/Y

Shares of Omega Flex, Inc. OFLX have gained 7.7% since the company reported its earnings for the quarter ended Dec. 31, 2024. This compares to the S&P 500 index’s 2.2% growth over the same time frame. Over the past month, the stock has declined 1.1% compared with the S&P 500’s 4.7% decline.See the Zacks Earnings Calendar to stay ahead of market-making news.Omega Flex reported fourth-quarter 2024 earnings per share (EPS) of 46 cents, down from 48 cents in the year-ago period.Net sales totaled $27 million, down 4.2% from $28.1 million in the prior-year quarter. The company attributed the revenue decline primarily to lower sales unit volumes, which were impacted by a slowdown in housing starts.For the fourth quarter, net income fell 4.2% year over year to $4.7 million from $4.9 million.Omega Flex, Inc. Price, Consensus and EPS Surprise Omega Flex, Inc. price-consensus-eps-surprise-chart | Omega Flex, Inc. QuoteOther Key Business Metrics of OFLXOmega Flex’s profit decline was largely influenced by higher operating costs. The company cited increased salary-related expenses and higher travel costs as contributing factors.Management Commentary and Market Conditions for OFLXCEO Dean W. Rivest noted that the company faced challenges stemming from a suppressed market environment, particularly due to declining housing starts. This has negatively impacted demand for Omega Flex’s flexible metal hose and gas piping products. Management did not specify any major strategic shifts but acknowledged that market headwinds persisted throughout 2024.OFLX’s Dividend DeclarationOn Dec. 5, 2024, Omega Flex’s board of directors declared a regular quarterly dividend of 34 cents per share, payable on Jan. 7, 2025, to shareholders of record as of Dec. 19, 2024. The company emphasized that future dividend levels will be determined based on financial performance, capital expenditure plans, and potential acquisition opportunities.Full-Year Update for OFLXNet sales of $101.7 million for 2024 marked an 8.8% decline from $111.5 million in 2023. Net income came in at $18 million, a 13.2% decrease from $20.8 million in 2023. EPS declined accordingly, with full-year EPS at $1.78, down from $2.06 in 2023.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omega Flex, Inc. (OFLX): Get Free ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks