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DUBUQUE, Iowa - Flexsteel Industries, Inc. (NASDAQ:FLXS), a major player in the U.S. residential furniture market with a market capitalization of $162 million and an impressive 55-year track record of consecutive dividend payments, today announced the appointment of Terence P. Calloway as an independent director. According to InvestingPro analysis, the company maintains a strong financial health rating of "GOOD" with robust liquidity metrics. Calloway, a seasoned global executive with a track record of leveraging technology and modern manufacturing to drive value and product innovation, joins the company’s Board of Directors effective immediately.
Calloway’s career includes senior roles at Energizer Holdings, Inc., Colgate-Palmolive Company, and The Procter & Gamble Company, where he has honed his skills in product innovation and supply chain management. His expertise is expected to be a valuable asset to Flexsteel as it seeks to enhance customer service, achieve profitable growth, and improve shareholder returns.
Flexsteel’s Chairman, Thomas M. Levine, expressed enthusiasm about Calloway’s addition to the board, citing his considerable experience in product innovation, supply chain, organizational leadership, and strategic planning. CEO Derek Schmidt also welcomed Calloway, highlighting his unique skill set and deep consumer product innovation experience as key factors that will support the company’s growth strategy. The appointment comes at a crucial time, as InvestingPro data shows the company maintaining solid fundamentals with a healthy current ratio of 2.93 and moderate debt levels.
Calloway’s professional background includes a role as Executive Vice President of Global Product Supply at Energizer, where he led a team of over 4,100 before retiring in April 2025. He also served as Director of Global Design and Package Development at Colgate-Palmolive and held various research and development positions at Procter & Gamble, contributing to the success of globally-recognized household brands.
Flexsteel, known for its wide range of residential furniture products and a unique steel drop-in seat spring, distributes its offerings across the United States through e-commerce and direct sales channels, generating annual revenues of $437 million. The addition of Calloway to the Board is a strategic move to bolster the company’s leadership and competitive edge in the furniture industry. InvestingPro analysis indicates the stock is currently undervalued, with strong fundamentals including a P/E ratio of 11.2 and positive earnings forecasts for the current fiscal year. Discover more insights and 8 additional ProTips about Flexsteel’s potential through an InvestingPro subscription.
This announcement is based on a press release statement from Flexsteel Industries, Inc.
In other recent news, Flexsteel Industries Inc. reported impressive third-quarter earnings for 2025, surpassing expectations with an earnings per share (EPS) of $1.13, compared to the forecasted $0.81. The company also exceeded revenue projections, reporting $114 million against an anticipated $109.47 million, marking a 6.3% year-over-year growth. Flexsteel introduced 25 new product groups, which contributed to the company’s robust performance and continued focus on innovation. Additionally, the company has been shifting its production from China to Vietnam and Mexico, which is part of its strategic operational adjustments. The company forecasts sales between $109 million and $116 million for the upcoming quarter, with a gross margin of 21-22% and an operating margin of 6-7.3%. Analysts have shown a keen interest in Flexsteel’s strategies to mitigate tariff risks, which include exploring alternative sourcing options. The company’s management remains confident in its ability to navigate market challenges and maintain its competitive edge.
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