# EDGAR Filing Document

**Accession Number:** 0000037472
**File Stem:** 0001193125-26-033770
**Filing Date:** 2026-2
**Character Count:** 22800
**Document Hash:** d669442a3114a729d7d1c67ebe3b042c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-033770.hdr.sgml**: 20260202

**ACCESSION NUMBER**: 0001193125-26-033770

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260202

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260202

**DATE AS OF CHANGE**: 20260202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FLEXSTEEL INDUSTRIES INC
- **CENTRAL INDEX KEY:** 0000037472
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOUSEHOLD FURNITURE [2510]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 420442319
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-05151
- **FILM NUMBER:** 26588376

**BUSINESS ADDRESS:**
- **STREET 1:** 385 BELL ST.
- **CITY:** DUBUQUE
- **STATE:** IA
- **ZIP:** 52001
- **BUSINESS PHONE:** 3195567730

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 877
- **CITY:** DUBUQUE
- **STATE:** IA
- **ZIP:** 52004-0877

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** February 02, 2026<br>

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Flexsteel Industries Inc

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Minnesota | 0-5151 | 42-0442319 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 385 Bell Street |  |  |
| Dubuque**,** Iowa |  | 52001-7004 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code:** (563) 556-7730<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common Stock | FLXS | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On February 2, 2026, Flexsteel Industries, Inc. issued a press release announcing Second Quarter Ended December 31, 2025 operating results. A copy of the Press Release is attached hereto as Exhibit 99.1.

## Item 7.01 Regulation FD Disclosure.
The Company will host a conference call and webcast at 8:00 a.m. Central Time (9:00 a.m. Eastern Time) on Tuesday, February 3, 2026 to discuss results and answer questions. Analysts and investors may participate in the question-and-answer session. The call can be accessed via telephone at 833-816-1123 (domestic) or 412-317-0710 (international) and requesting to be connected with the Flexsteel conference call.

Additionally, interested parties can listen to a live webcast of the call in the Investor Relations section of the Company's website at http://ir.flexsteel.com. An archived version of the webcast will be available in the same location shortly after the live call has ended.

A recorded replay can be accessed through February 10, 2026, by dialing 855-669-9658 (domestic) or 412-317-0088 (international); Replay access code: 1354547.

## Item 9.01 Financial Statements and Exhibits.

## <u>Exhibit</u> <u>Description</u> 
[<u>99.1</u>](flxs-ex99_1.htm)[<u>Press Release by Flexsteel Industries, Inc. dated February 2, 2026.</u>](flxs-ex99_1.htm)

104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | FLEXSTEEL INDUSTRIES, INC. |
| Date: | February 2, 2026 | By:  | */s/ Michael J. Ressler* |
|  |  |  | Michael J. Ressler<br>Chief Financial Officer |

---

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## Exhibit 99.1

# Flexsteel Industries, Inc. Reports Strong Fiscal Second Quarter 2026 Results
Dubuque, Iowa – February 2, 2026 – Flexsteel Industries, Inc. (NASDAQ: FLXS) ("Flexsteel" or the "Company"), one of the largest manufacturers, importers, and marketers of residential furniture products in the United States, today reported second quarter fiscal 2026 results.

**Key Results for the Second Quarter Ended December 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net sales for the quarter of $118.2 million compared to $108.5 million in the prior year quarter, an increase of 9.0%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•GAAP operating income of $9.0 million or 7.6% of net sales compared to $11.7 million or 10.7% of net sales in the prior year quarter.

oAdjusted operating income of $9.0 million or 7.6% of net sales for the second quarter compared to $6.7 million or 6.1% of net sales in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•GAAP net income per diluted share of $1.18 for the current quarter compared to $1.62 in the prior year quarter.

oAdjusted net income per diluted share of $1.18 for the quarter compared to $0.95 in the prior year quarter.

GAAP to non-GAAP reconciliations follow the financial statements in this press release

**Management Commentary**

"I'm pleased with our second quarter results and the way our teams continue to execute in a highly dynamic environment," said Derek Schmidt, CEO of Flexsteel Industries, Inc. "Despite uneven industry demand and a rapidly evolving tariff landscape, we delivered 9% year-over-year sales growth and meaningful profit improvement in the quarter. Our performance reflects the quality and balance of our growth, driven by new product introductions, share gains with strategic accounts, and continued progress in casegoods and health and wellness. Just as importantly, our results demonstrate the operating discipline and agility we've built into the organization over the past several years."

Mr. Schmidt continued, "While macroeconomic conditions and consumer demand remain inconsistent, we are navigating these challenges with a clear focus on execution. Our margin performance this quarter reflects structural improvements in how we operate, including productivity gains, cost discipline, and thoughtful product portfolio management. Tariffs continue to represent a significant source of uncertainty for the industry, and while we expect near-term pressure on demand and margins as higher-cost inventory flows through, we are actively managing pricing, costs, and our supply chain to mitigate the impact over time."

Mr. Schmidt concluded, "Flexsteel enters this period with a strong balance sheet, solid profitability, and a clear strategic roadmap. We remain confident in our ability to adapt quickly to external change while continuing to invest in innovation, consumer-led product development, and our retail partnerships. These capabilities position us well to navigate near-term volatility, continue gaining share, and drive sustainable long-term growth and shareholder value."

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**Operating Results for the Second Quarter Ended December 31, 2025**

Net sales were $118.2 million for the second quarter compared to net sales of $108.5 million in the prior year quarter, an increase of $9.7 million, or 9.0%. The increase was driven by higher unit volume in sourced soft seating products and pricing from tariff surcharges, partially offset by lower unit volume in our made-to-order soft seating products and homestyles branded ready-to-assemble category.

Gross margin for the quarter ended December 31, 2025, was 22.7%, compared to 21.0% for the prior-year quarter, an increase of 170 basis points ("bps"). The 170-bps increase was primarily driven by favorable sales composition of higher margin products, partially offset by the dilutive impact of tariffs.

Selling, general and administrative (SG&A) expenses increased to 15.1% of net sales in the second quarter of fiscal 2026 compared with 14.9% of net sales in the prior year quarter. The increase was primarily due to investments in growth initiatives.

Operating income for the quarter ended December 31, 2025, was $9.0 million compared to $11.7 million in the prior-year quarter. Adjusted operating income for the quarter ended December 31, 2025 was $9.0 million compared to $6.7 million in the prior year quarter, an increase of 35%.

The Company reported income tax expense of $2.7 million, or an effective rate of 28.9%, during the second quarter compared to tax expense of $2.6 million, or an effective rate of 22.4%, in the prior year quarter.

The Company reported net income of $6.6 million, or $1.18 per diluted share, for the quarter ended December 31, 2025, compared to net income of $9.1 million, or $1.62 per diluted share, in the prior year quarter. Adjusted net income for the quarter ended December 31, 2025, was $6.6 million or $1.18 per diluted share compared to adjusted net income of $5.3 million or $0.95 per diluted share in the prior year quarter.

**Liquidity**

The Company ended the quarter with a cash balance of $36.8 million and working capital (current assets less current liabilities) of $126.0 million, and availability of approximately $54.1 million under its secured line of credit.

Capital expenditures for the six months ended December 31, 2025, were $3.1 million.

**Conference Call and Webcast** 

The Company will host a conference call and audio webcast with analysts and investors on Tuesday, February 3, 2026, at 8:00 a.m. Central Time to discuss the results and answer questions.

&nbsp;&nbsp;&nbsp;&nbsp;•Live conference call: 833-816-1123 (domestic) or 412-317-0710 (international)

&nbsp;&nbsp;&nbsp;&nbsp;•Conference call replay available through February 10, 2026: 855-669-9658 (domestic) or 412-317-0088 (international)

&nbsp;&nbsp;&nbsp;&nbsp;•Replay access code: 1354547

&nbsp;&nbsp;&nbsp;&nbsp;•Live and archived webcast: ir.flexsteel.com

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To pre-register for the earnings conference call and avoid the need to wait for a live operator, investors can visit https://dpregister.com/sreg/10205900/10316d9afac and enter their contact information. Investors will then be issued a personalized phone number and pin to dial into the live conference call.

**About Flexsteel**

Flexsteel Industries, Inc., and Subsidiaries (the "Company") is one of the largest residential furniture manufacturers, importers, and marketers in the U.S., known for crafting comfortable, durable seating and timeless designs for rooms throughout the home. For more than 130 years, Flexsteel has built furniture with care, highlighted by its patented Blue Steel Spring technology that delivers lasting comfort and support. Today, Flexsteel products are available nationwide through retail partners and online channels, helping people create inviting, livable spaces they can enjoy for years to come.

<u>Forward-Looking Statements</u>

Statements, including those in this release, which are not historical or current facts, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There are certain important factors that could cause the Company's results to differ materially from those anticipated by some of the statements made herein. Investors are cautioned that all forward-looking statements involve risk and uncertainty. Some of the factors that could affect results are the cyclical nature of the furniture industry, supply chain disruptions, litigation, the effectiveness of new product introductions and distribution channels, the product mix of sales, pricing pressures, the cost of raw materials and fuel, changes in foreign currency values, retention and recruitment of key employees, actions by governments including laws, regulations, taxes and tariffs, the amount of sales generated and the profit margins thereon, competition (both U.S. and foreign), credit exposure with customers, participation in multi-employer pension plans, disruptions or security breaches to business information systems, the impact of any future pandemic, and general economic conditions. For further information regarding these risks and uncertainties, see the "Risk Factors" section in Item 1A of our most recent Annual Report on Form 10-K.

For more information, visit our website at http://www.flexsteel.com.

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FLEXSTEEL INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands)

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| | | |
|:---|:---|:---|
|  | **December 31,** | **June 30,** |
|  | **2025** | **2025** |
| **ASSETS** |  |  |
| CURRENT ASSETS: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $36771 | $40006 |
| &nbsp;&nbsp;Trade receivables, net | 41832 | 35229 |
| &nbsp;&nbsp;Inventories | 95091 | 89135 |
| &nbsp;&nbsp;Other | 14903 | 8002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 188597 | 172372 |
| NONCURRENT ASSETS: |  |  |
| &nbsp;&nbsp;Property, plant and equipment, net | 37176 | 36212 |
| &nbsp;&nbsp;Operating lease right-of-use assets | 38835 | 41545 |
| &nbsp;&nbsp;Other assets | 25586 | 32357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL ASSETS | $290194 | $282486 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| CURRENT LIABILITIES: |  |  |
| &nbsp;&nbsp;Accounts payable - trade | $28862 | $25617 |
| &nbsp;&nbsp;Accrued liabilities | 33772 | 36397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 62634 | 62014 |
| LONG-TERM LIABILITIES |  |  |
| &nbsp;&nbsp;Other liabilities | 48694 | 52610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 111328 | 114624 |
| SHAREHOLDERS' EQUITY | 178866 | 167862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $290194 | $282486 |

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FLEXSTEEL INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (UNAUDITED)

(in thousands, except per share data)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Net sales | $118249 | $108483 | $228688 | $212490 |
| Cost of goods sold | 91425 | 85678 | 175918 | 167318 |
| Gross profit | 26824 | 22805 | 52770 | 45172 |
| Selling, general and administrative expenses | 17827 | 16142 | 34786 | 32462 |
| (Gain) on disposal of assets held for sale |  | (4991) |  | (4991) |
| Operating income | 8997 | 11654 | 17984 | 17701 |
| Other income (expense): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | 353 | 31 | 744 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest (expense) |  | (19) |  | (70) |
| Income before income taxes | 9350 | 11666 | 18728 | 17662 |
| Income tax expense | 2706 | 2612 | 4757 | 4468 |
| Net income and comprehensive income | $6644 | $9054 | $13971 | $13194 |
| Weighted average number of common shares outstanding: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 5342 | 5247 | 5325 | 5225 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 5633 | 5582 | 5622 | 5554 |
| Earnings per share of common stock: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.24 | $1.73 | $2.62 | $2.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $1.18 | $1.62 | $2.49 | $2.38 |

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FLEXSTEEL INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(in thousands)

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| | | |
|:---|:---|:---|
|  | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** |
|  | **2025** | **2024** |
| OPERATING ACTIVITIES: |  |  |
| Net income | $13971 | $13194 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;Depreciation | 1700 | 1853 |
| &nbsp;&nbsp;Deferred income taxes | 3362 | 1 |
| &nbsp;&nbsp;Stock-based compensation expense | 2261 | 2101 |
| &nbsp;&nbsp;Provision for credit losses | 113 | 4 |
| &nbsp;&nbsp;Loss (gain) on disposition of property, plant and equipment | 101 | (4987) |
| &nbsp;&nbsp;Changes in operating assets and liabilities | (16387) | (3075) |
| Net cash provided by operating activities | 5121 | 9091 |
| INVESTING ACTIVITIES: |  |  |
| &nbsp;&nbsp;Proceeds from sale of investments |  | 1155 |
| &nbsp;&nbsp;Proceeds from sales of property, plant and equipment | 4 | 6704 |
| &nbsp;&nbsp;Capital expenditures | (3099) | (1334) |
| Net cash (used in) provided by investing activities | (3095) | 6525 |
| FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;Dividends paid | (2217) | (1760) |
| &nbsp;&nbsp;Treasury stock purchases | (1130) |  |
| &nbsp;&nbsp;Proceeds from line of credit |  | 202344 |
| &nbsp;&nbsp;Payments on line of credit |  | (207262) |
| &nbsp;&nbsp;Proceeds from issuance of common stock | 30 | 141 |
| &nbsp;&nbsp;Shares withheld for tax payments on vested shares and options exercised | (1944) | (2051) |
| Net cash (used in) financing activities | (5261) | (8588) |
| (Decrease) increase in cash and cash equivalents | (3235) | 7028 |
| Cash and cash equivalents at beginning of the period | 40006 | 4761 |
| Cash and cash equivalents at end of the period | $36771 | $11789 |

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<u>NON-GAAP DISCLOSURE (UNAUDITED)</u>

The Company is providing information regarding adjusted operating income, adjusted net income, and adjusted diluted earnings per share of common stock, which are not recognized terms under U.S. Generally Accepted Accounting Principles ("GAAP") and do not purport to be alternatives to operating income, net income, or diluted earnings per share of common stock as a measure of operating performance. A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted earnings per share of common stock is provided below. Management believes the use of these non-GAAP financial measures provides investors useful information to analyze and compare performance across periods excluding the items which are considered by management to be extraordinary or one-time in nature. Because not all companies use identical calculations, these presentations may not be comparable to other similarly titled measures of other companies.

**Reconciliation of GAAP operating income to adjusted operating income:**

The following table sets forth the reconciliation of the Company's reported GAAP operating income to the calculation of adjusted operating income for the three and six months ended December 31, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Reported GAAP operating income | $8997 | $11654 | $17984 | $17701 |
| (Gain) on disposal of assets held for sale |  | (4991) |  | (4991) |
| Adjusted operating income | $8997 | 6663 | $17984 | $12710 |
| GAAP operating margin | 7.6% | 10.7% | 7.9% | 8.3% |
| Adjusted operating margin | 7.6% | 6.1% | 7.9% | 6.0% |

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**Reconciliation of GAAP net income to adjusted net income:**

The following table sets forth the reconciliation of the Company's reported GAAP net income to the calculation of adjusted net income for the three and six months ended December 31, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
| *(in thousands)* | **2025** | **2024** | **2025** | **2024** |
| Reported GAAP net income | $6644 | $9054 | $13971 | $13194 |
| (Gain) on disposal of assets held for sale |  | (4991) |  | (4991) |
| Tax impact of the above adjustments<sup>(1)</sup> |  | 1231 |  | 1231 |
| Adjusted net income | $6644 | $5294 | $13971 | $9434 |

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<sup>(1)</sup> Effective tax rate of 24.66% was used to calculate the three and six months ended December 31, 2024

**Reconciliation of GAAP diluted earnings per share of common stock to adjusted diluted earnings per share of common stock:**

The following table sets forth the reconciliation of the Company's reported GAAP diluted earnings per share to the calculation of adjusted diluted earnings per share for the three and six months ended December 31, 2025 and 2024:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
|  | **December 31,** | **December 31,** | **December 31,** | **December 31,** |
|  | **2025** | **2024** | **2025** | **2024** |
| Reported GAAP diluted earnings per share | $1.18 | $1.62 | $2.49 | $2.38 |
| (Gain) on disposal of assets held for sale |  | (0.89) |  | (0.90) |
| Tax impact of the above adjustments<sup>(1)</sup> |  | 0.22 |  | 0.22 |
| Adjusted diluted earnings per share | $1.18 | $0.95 | $2.49 | $1.70 |

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Note: The table above may not foot due to rounding.

<sup>(1)</sup> Effective tax rate of 24.66% was used to calculate the three and six months ended December 31, 2024

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INVESTOR CONTACT:

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| |
|:---|
| &nbsp;&nbsp;Michael Ressler, Flexsteel Industries, Inc. |
| &nbsp;&nbsp;563-585-8116 |
| &nbsp;&nbsp;investors@flexsteel.com |

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