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Flexible Solutions (FSI) Q2 Earnings Top Estimates, Sales Up Y/Y
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Flexible Solutions International Inc. (FSI - Free Report) logged profits of $1.66 million or 13 cents per share for second-quarter 2022, compared with a profit of $1.18 million or 10 cents in the year-ago quarter. Earnings per share topped the Zacks Consensus Estimate of 7 cents.
The company registered revenues of around $11.2 million for the quarter, up roughly 31% year over year. It saw higher sales across its segments in the reported quarter. It faced headwinds from significant raw material cost inflation and some shipping disruptions in the quarter.
Flexible Solutions International Inc. Price, Consensus and EPS Surprise
Sales from the company’s Energy and Water Conservation products for the reported quarter rose roughly 41% year over year to around $0.19 million, driven by higher customer orders.
Sales of Biodegradable Polymers increased roughly 31% year over year to around $10.98 million in the quarter, aided by higher customer orders.
Financials
Flexible Solutions ended the quarter with cash and cash equivalents of roughly $4.5 million, down around 15% year over year. Long-term debt was roughly $4.8 million at the end of the quarter, up around 140% year over year.
Outlook
Flexible Solutions said that it expects to continue the momentum in the next several quarters. 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 25.7% over a year compared with the industry’s decline of 12.7%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Flexible Solutions currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Albemarle Corporation (ALB - Free Report) and Daqo New Energy Corp. (DQ - Free Report) .
Sociedad has a projected earnings growth rate of 513.7% for the current year. The Zacks Consensus Estimate for SQM’s current-year earnings has been revised 32.6% upward in the past 60 days.
Sociedad’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average being 28.2%. SQM has rallied roughly 116% in a year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle has a projected earnings growth rate of 405.2% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 61.3% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 24.2%, on average. ALB has gained around 30% in a year and currently carries a Zacks Rank #1.
Daqo New Energy, currently carrying a Zacks Rank #1, has an expected earnings growth rate of 177.5% for the current year. The Zacks Consensus Estimate for DQ's earnings for the current fiscal has been revised 20.8% upward in the past 60 days.
Daqo New Energy’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 10.8%. DQ has gained around 40% over a year.
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Flexible Solutions (FSI) Q2 Earnings Top Estimates, Sales Up Y/Y
Flexible Solutions International Inc. (FSI - Free Report) logged profits of $1.66 million or 13 cents per share for second-quarter 2022, compared with a profit of $1.18 million or 10 cents in the year-ago quarter. Earnings per share topped the Zacks Consensus Estimate of 7 cents.
The company registered revenues of around $11.2 million for the quarter, up roughly 31% year over year. It saw higher sales across its segments in the reported quarter. It faced headwinds from significant raw material cost inflation and some shipping disruptions in the quarter.
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 rose roughly 41% year over year to around $0.19 million, driven by higher customer orders.
Sales of Biodegradable Polymers increased roughly 31% year over year to around $10.98 million in the quarter, aided by higher customer orders.
Financials
Flexible Solutions ended the quarter with cash and cash equivalents of roughly $4.5 million, down around 15% year over year. Long-term debt was roughly $4.8 million at the end of the quarter, up around 140% year over year.
Outlook
Flexible Solutions said that it expects to continue the momentum in the next several quarters. 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 25.7% over a year compared with the industry’s decline of 12.7%.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Flexible Solutions currently carries a Zacks Rank #3 (Hold).
Better-ranked stocks worth considering in the basic materials space include Sociedad Quimica y Minera de Chile S.A. (SQM - Free Report) , Albemarle Corporation (ALB - Free Report) and Daqo New Energy Corp. (DQ - Free Report) .
Sociedad has a projected earnings growth rate of 513.7% for the current year. The Zacks Consensus Estimate for SQM’s current-year earnings has been revised 32.6% upward in the past 60 days.
Sociedad’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average being 28.2%. SQM has rallied roughly 116% in a year. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Albemarle has a projected earnings growth rate of 405.2% for the current year. The Zacks Consensus Estimate for ALB's current-year earnings has been revised 61.3% upward in the past 60 days.
Albemarle’s earnings beat the Zacks Consensus Estimate in each of the last four quarters. It has a trailing four-quarter earnings surprise of roughly 24.2%, on average. ALB has gained around 30% in a year and currently carries a Zacks Rank #1.
Daqo New Energy, currently carrying a Zacks Rank #1, has an expected earnings growth rate of 177.5% for the current year. The Zacks Consensus Estimate for DQ's earnings for the current fiscal has been revised 20.8% upward in the past 60 days.
Daqo New Energy’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, the average being 10.8%. DQ has gained around 40% over a year.