Omega Flex Q2 2024 10-Q Filing

TL;DR

Omega Flex filed its Q2 10-Q. Financials look solid.

AI Summary

Omega Flex, Inc. filed its 10-Q for the period ending June 30, 2024. The company, based in Exton, PA, reported financial results for the second quarter of 2024. Key financial data and balance sheet information as of March 31, 2024, and December 31, 2023, were included in the filing.

Why It Matters

This filing provides investors with the latest financial performance and position of Omega Flex, Inc., crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-08-02 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 1231 — Fiscal Year End (Specifies the end date of the company's fiscal year.)

Key Players & Entities

• Omega Flex, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• Exton, PA (location) — Company headquarters
• 000-51372 (other) — SEC file number
• 20240802 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 670KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 9KB
• 0001493152-24-030000.txt ( ) — 3608KB
• oflx-20240630.xsd (EX-101.SCH) — 24KB
• oflx-20240630_cal.xml (EX-101.CAL) — 51KB
• oflx-20240630_def.xml (EX-101.DEF) — 77KB
• oflx-20240630_lab.xml (EX-101.LAB) — 241KB
• oflx-20240630_pre.xml (EX-101.PRE) — 179KB
• form10-q_htm.xml (XML) — 466KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements 4 Condensed Consolidated Balance Sheets at June 30, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Income for the three and six months ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 (unaudited) 7 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (unaudited) 9 Notes to the Condensed Consolidated Financial Statements (unaudited) 10

– Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 26

– Quantitative and Qualitative Disclosures About Market Risk

Item 3 – Quantitative and Qualitative Disclosures About Market Risk 32

– Controls and Procedures

Item 4 – Controls and Procedures 32

- OTHER INFORMATION

PART II - OTHER INFORMATION

– Legal Proceedings

Item 1 – Legal Proceedings 33

– Risk Factors

Item 1A – Risk Factors 33

– Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 33

– Defaults Upon Senior Securities

Item 3 – Defaults Upon Senior Securities 33

– Mine Safety Disclosures

Item 4 – Mine Safety Disclosures 33

– Other Information

Item 5 – Other Information 33

- Exhibits

Item 6 - Exhibits 33

SIGNATURES

SIGNATURES 34 -2- CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain but rather reflect our current expectations concerning future results and events — constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believes," "expects," "intends," "plans," "anticipates," "intent," "estimates," "potential," "continues," "hopes," "likely," "will," and similar expressions, or the negative of these terms, identify such forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause the actual results, performance or achievements of Omega Flex, Inc., or industry results, to differ materially from future results, performance or achievements expressed or implied by such forward-looking statements are set forth in Part I, Item 1A. Risk Factors, and other parts of the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's view only as of the date of this Form 10-Q. We undertake no obligation to update or revise any forward-looking statements, whether to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, conditions, or circumstances, except as required by law. In addition, certain sections of this Form 10-Q contain information obtained from independent industry sources and other sources that we have not independently verified. Unless otherwise indicated or the context otherwise requires, all references in this Form 10-Q to the terms "Omega Flex," the "Company," "us," "we", and "our" refer to Omega Flex, Inc. and its subsidiaries. -3- PART I - FINANCIAL INFORMATION Item 1 - F

View Full Filing

View this 10-Q filing on SEC EDGAR