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Flexible Solutions (FSI) Q3 Earnings Meet Estimates, Sales Beat

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·3 min read
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Flexible Solutions International Inc. FSI logged profits of $1.16 million or 9 cents per share for third-quarter 2021, up from a profit of $0.6 million or 5 cents in the year-ago quarter. Earnings per share were in line with the Zacks Consensus Estimate.

The company registered revenues of around $9.2 million for the quarter, up roughly 14% year over year. The top line beat the Zacks Consensus Estimate of $8.5 million. The company delivered strong results in the quarter notwithstanding the significant shipping and raw material pricing headwinds.

Flexible Solutions International Inc. Price, Consensus and EPS Surprise

Flexible Solutions International Inc. Price, Consensus and EPS Surprise
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 4% year over year to around $0.1 million, impacted by lower customer orders.

Sales of Biodegradable Polymers and Chemical Additives increased roughly 14% year over year to around $9.1 million in the quarter, aided by higher customer orders.

Financials

Flexible Solutions ended the quarter with cash and cash equivalents of roughly $4.9 million, down around 21% year over year. Long-term debt was roughly $1.7 million at the end of the quarter, down around 35% year over year.

Outlook

Flexible Solutions said that it expects to recover its lost profitability while continuing its recent growth once the issues impacting the transport, raw material and energy markets recede.

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 NanoChem. 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 66.1% over a year compared with the industry’s rise of 14.8%.

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Zacks Rank & Key Picks

Flexible Solutions currently carries a Zacks Rank #3 (Hold)

Better-ranked stocks worth considering in the basic materials space include Nutrien Ltd. NTR, Dow Inc. DOW and Univar Solutions Inc. UNVR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Nutrien has an expected earnings growth rate of 212.2% for the current year. The Zacks Consensus Estimate for NTR's current-year earnings has been revised 13.5% upward over the last 60 days.

Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters while missing once. It has a trailing four-quarter earnings surprise of roughly 73.5%, on average. NTR has rallied around 57% in a year.

Dow has a projected earnings growth rate of 447% for the current year. The consensus estimate for DOW’s current year has been revised 7.2% upward over the last 60 days.

Dow beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 14.1%. DOW shares have gained around 10% in a year.

Univar has a projected earnings growth rate of 55.2% for the current year. UNVR's consensus estimate for the current year has been revised 9% upward over the last 60 days.

Univar beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters, the average being 24.1%. UNVR has gained around 59% in a year.


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