Flexible Solutions International, Inc. Provides Earnings Guidance for the Fourth Quarter of 2022 and Year of 2023
November 15, 2022 at 11:00 am EST
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Flexible Solutions International, Inc. provided earnings guidance for the fourth quarter of 2022 and year of 2023. For the quarter, the company estimated that year-over-year growth in revenue will continue in fourth quarter.
For the year, the company expected revenue and profit to grow strongly in 2023.
Flexible Solutions International, Inc. is engaged in manufacturing and marketing biodegradable polymers which are used in the oil, gas and agricultural industries. The Company also develops, manufactures and markets specialty chemicals that slow the evaporation of water. Its products include HEATSAVR and WATERSAVR. Its segments include Energy and water conservation products (EWCP), and Biodegradable polymers (TPAs). Its EWCP segment consists of liquid swimming pool blankets which save energy and water by inhibiting evaporation from the pool surface, and a food-safe powdered form of the active ingredient within the liquid blankets and which are designed to be used in still or slow-moving drinking water sources. Its TPA segment is used by the petroleum, chemical, utility and mining industries to prevent corrosion and scaling in water piping. This product can also be used in detergents to increase biodegradability and in agriculture to increase crop yields by enhancing fertilizer uptake.