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Flexible Solutions (FSI) Q2 Earnings & Sales Top Estimates
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Flexible Solutions International Inc. (FSI - Free Report) reported earnings of 10 cents per share for second-quarter 2024, up from 7 cents in the year-ago quarter. It beat the Zacks Consensus Estimate of 7 cents.
The company registered revenues of around $10.5 million for the quarter, up roughly 1.9% year over year. It beat the Zacks Consensus Estimate of $10.3 million.
Flexible Solutions International Inc. Price, Consensus and EPS Surprise
Sales from the company’s Energy and Water Conservation products for the reported quarter fell roughly 24% year over year to around $0.17 million. Sales were affected by lower customer orders.
Sales of Biodegradable Polymers increased roughly 2.6% year over year to around $10.36 million in the quarter on higher customer orders.
Financials
Flexible Solutions ended the quarter with cash and cash equivalents of roughly $6.8 million, up around 28.3% from the prior quarter. Long-term debt was roughly $6.1 million, down around 3.1% sequentially.
Outlook
Flexible Solutions said that it expects to build on the solid second-quarter results over the balance of 2024. It also noted that new opportunities continue to unfold in applications such as detergent, food, nutraceuticals, oil field extraction, turf, ornamental and agricultural to further boost sales in the NanoChem division and the ENP subsidiary. 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 up 1.2% over a year against the industry’s decline of 12.1%.
Quaker Chemical Corporation (KWR - Free Report) logged adjusted earnings for the second quarter of $2.13 per share, missing the Zacks Consensus Estimate of $2.21. KWR expects to deliver earnings growth in 2024, notwithstanding the challenging end-market environment, which it expects to continue through the end of the year.
Ingevity Corporation (NGVT - Free Report) reported adjusted earnings of $1.01 per share for the second quarter, down from $1.41 a year ago. The figure missed the Zacks Consensus Estimate of $1.05. NGVT revised its sales guidance for 2024 to $1.4-$1.5 billion and adjusted EBITDA outlook to $350-$360 million.
Element Solutions Inc’s (ESI - Free Report) adjusted earnings came in at 36 cents per share for the second quarter. The figure beat the Zacks Consensus Estimate of 35 cents. Element Solutions now expects adjusted EBITDA in the range of $530-$545 million for 2024. ESI anticipates generating a free cash flow in the range of $280-$300 million for 2024.
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Flexible Solutions (FSI) Q2 Earnings & Sales Top Estimates
Flexible Solutions International Inc. (FSI - Free Report) reported earnings of 10 cents per share for second-quarter 2024, up from 7 cents in the year-ago quarter. It beat the Zacks Consensus Estimate of 7 cents.
The company registered revenues of around $10.5 million for the quarter, up roughly 1.9% year over year. It beat the Zacks Consensus Estimate of $10.3 million.
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 24% year over year to around $0.17 million. Sales were affected by lower customer orders.
Sales of Biodegradable Polymers increased roughly 2.6% year over year to around $10.36 million in the quarter on higher customer orders.
Financials
Flexible Solutions ended the quarter with cash and cash equivalents of roughly $6.8 million, up around 28.3% from the prior quarter. Long-term debt was roughly $6.1 million, down around 3.1% sequentially.
Outlook
Flexible Solutions said that it expects to build on the solid second-quarter results over the balance of 2024. It also noted that new opportunities continue to unfold in applications such as detergent, food, nutraceuticals, oil field extraction, turf, ornamental and agricultural to further boost sales in the NanoChem division and the ENP subsidiary. 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 up 1.2% over a year against the industry’s decline of 12.1%.
Image Source: Zacks Investment Research
Zacks Rank & Other Specialty Chemicals Releases
FSI currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Quaker Chemical Corporation (KWR - Free Report) logged adjusted earnings for the second quarter of $2.13 per share, missing the Zacks Consensus Estimate of $2.21. KWR expects to deliver earnings growth in 2024, notwithstanding the challenging end-market environment, which it expects to continue through the end of the year.
Ingevity Corporation (NGVT - Free Report) reported adjusted earnings of $1.01 per share for the second quarter, down from $1.41 a year ago. The figure missed the Zacks Consensus Estimate of $1.05. NGVT revised its sales guidance for 2024 to $1.4-$1.5 billion and adjusted EBITDA outlook to $350-$360 million.
Element Solutions Inc’s (ESI - Free Report) adjusted earnings came in at 36 cents per share for the second quarter. The figure beat the Zacks Consensus Estimate of 35 cents. Element Solutions now expects adjusted EBITDA in the range of $530-$545 million for 2024. ESI anticipates generating a free cash flow in the range of $280-$300 million for 2024.