Omega Flex

Omega Flex, Inc. engages in the manufacture and sale of flexible metal hose and accessories. It offers products to numerous industries, such as steel production, fuel-handling, semiconductor, medical, pharmaceutical, petrochemical, residential and commercial construction, and power generation. Its products include TracPipe CounterStrike, DoubleTrac, Def-Trac, industrial, and Meditrac. The company was founded in 1975 and is headquartered in Exton, PA.

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OFLX's Q3 earnings decrease as softening demand and higher fixed costs hit margins. Despite cost-cutting efforts, the company witnesses a 9.5% revenue drop and a 17.2% decline in net income.

Omega Flex Q3 Earnings Decline Y/Y on Lower Demand, Higher Overheads

EXTON, Pa., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company”) for the first nine months of 2024 and 2023 were $74,716,000 and $83,318,000, respectively, decreasing $8,602,000 or 10.3%. Net Sales for the three months ended September 30, 2024 were 9.5% lower than for the third quarter of 2023. The decrease in net sales was mainly due to lower sales unit volumes as the overall market continued to be suppressed because of, among other factors, a decline in housing starts.

Omega Flex, Inc. Announces Third Quarter 2024 Earnings

EXTON, Pa., Sept. 11, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.34 per share payable on October 8, 2024, to shareholders of record on September 26, 2024. In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Third Quarter 2024

Omega Flex is a leader in flexible metal hose manufacturing. This niche is correlated to the U.S. housing market, meaning the last two years have been rough.

A Once-in-a-Decade Opportunity: 1 Magnificent Dividend Stock Down 74% to Buy Now and Hold Forever

Omega Flex's (OFLX) Q2 EPS holds steady at 45 cents despite a 4.7% sales decline. Effective cost management helped mitigate the impact of lower unit volumes and market challenges.

Omega Flex (OFLX) Q2 Earnings Flat Y/Y, Cost-Cutting Measures Aid

EXTON, Pa., July 31, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company”) for the first six months of 2024 and 2023 were $49,836,000 and $55,822,000, respectively, decreasing $5,986,000 or 10.7%. Net Sales for the three months ended June 30, 2024 were 4.7% lower than for the second quarter of 2023. The decrease in net sales was mainly due to lower sales unit volumes as the overall market continued to be suppressed because of, among other factors, a decline in housing starts.

Omega Flex, Inc. Announces Second Quarter 2024 Earnings

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10 Upcoming Dividend Increases

EXTON, Pa., June 13, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) today announced that the Board of Directors declared a regular quarterly dividend of $0.34 per share payable on July 10, 2024, to shareholders of record on June 26, 2024.   In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2024

Discover why Zacks gives Omega Flex a 'Neutral' rating, being the first on Wall Street to initiate coverage on the stock. Dive into OFLX's impact in the global construction boom and its strong financial footing, set against the backdrop of a competitive, flexible hose market.

Zacks Initiates Coverage of Omega Flex With Neutral Recommendation

EXTON, Pa., May 01, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company” or “Omega Flex”) for the first quarters of 2024 and 2023 were $25,216,000 and $29,987,000, respectively, decreasing 15.9%.  The decrease in net sales was mainly due to lower sales unit volumes as the overall market continued to be suppressed because of, among other factors, a decline in housing starts.

Omega Flex, Inc. Announces First Quarter 2024 Earnings

EXTON, Pa., April 09, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announces that that our board of directors elected Stephen M. Shea as a director. Mr. Shea has been designated as a Class 2 director, and he will have a term expiring at the 2025 annual shareholder meeting. He will serve on our Audit committee.

Omega Flex, Inc. Announces Election of a Director: Stephen M. Shea

EXTON, Pa., April 05, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announces that Derek W. Glanvill, a Class 2 director, has resigned from the board of directors of the Company, effective April 4, 2024. The Company thanks Mr. Glanvill for his service as a director and wishes him well.

Omega Flex, Inc. Announces Departure of a Director: Derek W. Glanvill

EXTON, Pa., March 28, 2024 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.33 per share payable on April 24, 2024, to shareholders of record on April 10, 2024. In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the First Quarter 2024

EXTON, Pa., March 06, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company” or “Omega Flex”) for 2023 and 2022 were $111,465,000 and $125,487,000, respectively, decreasing 11.2%.  Net sales for the fourth quarter of 2023 were 8.7% lower than during the same period in 2022.   The decrease in net sales was mainly due to lower sales unit volumes as a result of the overall market continuing to be suppressed because of, among other factors, a decline in housing starts.

Omega Flex, Inc. Announces Fourth Quarter 2023 Earnings

Revenues increased in Q3 2023 after four quarters of consecutive declines. Margins also improved, and the company is highly profitable. The balance sheet is very robust and the company is debt-free.

Omega Flex: Becoming More Appealing, But Valuation Still Relatively High

Omega Flex is a leader in flexible metal hoses and piping. As dry as that sounds, its profitability and dividends prove far more exciting.

1 Magnificent Dividend Stock Down 23% to Buy in 2024 and Hold Forever

EXTON, Pa., Dec. 27, 2023 (GLOBE NEWSWIRE) -- We are pleased to announce that on December 7, 2023, on the recommendation of our Nominating/Governance Committee, effective January 1, 2024, our Board of Directors unanimously elected Edwin B. Moran as a Class 2 Director of Omega Flex, Inc., with a term expiring at the 2025 annual meeting of shareholders, and Dean W. Rivest as a Class 3 Director, with a term expiring at the 2026 annual meeting of shareholders.

Omega Flex, Inc. Board and Organizational Changes

EXTON, Pa., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.33 per share payable on January 4, 2024, to shareholders of record on December 19, 2023.   In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Fourth Quarter 2023

EXTON, Pa., Oct. 18, 2023 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first nine months of 2023 and 2022 were $83,318,000 and $94,670,000, respectively, decreasing $11,352,000 or 12.0%.  Net Sales for the three months ended September 30, 2023 were 13.1% lower than the third quarter of 2022.

Omega Flex, Inc. Announces Third Quarter 2023 Earnings

EXTON, Pa., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) today announces that Mark F. Albino has resigned from the board of directors of the Company, effective September 30, 2023. Since the Company became publicly traded in 2005, Mr. Albino was instrumental in its growth and strategy. He served as a director for over 27 years, and as our chief operating officer until his retirement in May 2022. While Mr. Albino believes that his retirement as a director followed naturally upon his retirement as chief operating officer, he informed our chief executive officer that he will continue to be available for consultation. We thank Mr. Albino for his tremendous contributions and wish him all the best in his retirement.

Omega Flex, Inc. Announces Departure of a Director: Mark F. Albino

EXTON, Pa., Sept. 11, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.33 per share payable on October 6, 2023, to shareholders of record on September 25, 2023.   In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Third Quarter 2023

Omega Flex has seen a significant reduction in volumes due to deteriorating demand for new construction projects. The company remains highly profitable as margins are high. Demand is expected to remain weak, but headwinds are likely temporary as they are directly linked to the current macroeconomic landscape.

Omega Flex: Boring Stock Facing Temporary Headwinds, But Valuation Still High

EXTON, Pa., July 19, 2023 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that the Company's Net Sales for the first six months of 2023 and 2022 were $55,822,000 and $63,041,000, respectively, decreasing $7,219,000 or 11.5%.  Net Sales for the three months ended June 30, 2023 were 18.6% lower than the second quarter of 2022.

Omega Flex, Inc. Announces Second Quarter 2023 Earnings

EXTON, Pa., June 13, 2023 (GLOBE NEWSWIRE) -- Omega Flex, Inc. (the “Company”) (NASDAQ: OFLX) today announced that the Board of Directors declared a regular quarterly dividend of $0.33 per share payable on July 7, 2023, to shareholders of record on June 26, 2023.   In determining the amount of future regular quarterly dividends, the Board will review the cash needs of the Company, and based on results of operations, financial condition, capital expenditure plans, and consideration of possible acquisitions, as well as such other factors as the Board of Directors may consider relevant, determine on a quarterly basis the amount of a regular quarterly dividend.

Omega Flex, Inc. Announces Regular Quarterly Dividend for the Second Quarter 2023

EXTON. Pa., April 19, 2023 (GLOBE NEWSWIRE) -- Kevin R. Hoben, Chairman and CEO, announced that Net Income of Omega Flex, Inc. (the “Company” or “Omega Flex”) was $5,742,000 for the first quarter of 2023 versus $5,451,000 during the same period last year, increasing $291,000 or 5.3%.  In contrast to the first quarter of last year, Net Income for the first quarter of 2023 improved mainly due to stronger gross profit because of the lower cost of certain raw materials.  Net Sales for the first quarter of 2023 were $29,987,000 compared to $31,293,000 during the first quarter of last year, decreasing $1,306,000 or 4.2%, mainly due to lower sales unit volumes as a result of the overall market being suppressed because of, among other factors, a decline in housing starts. Despite the challenging marketplace, management believes it has indications that it maintained or slightly improved its market share during the first quarter of 2023.

News for Omega Flex Stock (OFLX)