Omega Flex, Inc. Announces Third Quarter 2024 Earnings

EXTON, Pa., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Dean W. Rivest, CEO, announced that net sales of Omega Flex, Inc. (the “Company”) for the first nine months of 2024 and 2023 were $74,716,000 and $83,318,000, respectively, decreasing $8,602,000 or 10.3%. Net Sales for the three months ended September 30, 2024 were 9.5% lower than for the third quarter of 2023. The decrease in net sales was mainly due to lower sales unit volumes as the overall market continued to be suppressed because of, among other factors, a decline in housing starts.