Welcome to our dedicated page for Friedman Industries news (Ticker: $FRD), a resource for investors and traders seeking the latest updates and insights on Friedman Industries stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Friedman Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
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Rhea-AI Summary
Friedman Industries, Incorporated (FRD) declares a cash dividend of $0.04 per share, marking its 209th consecutive quarterly dividend since 1972. The Board cites a favorable outlook for consistent earnings and further growth, driven by strategic transformation and high-quality products.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.34%
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Rhea-AI Summary
Friedman Industries, Incorporated (FRD) reported strong financial performance for the third fiscal quarter ended December 31, 2023, with sales of $116.0 million and net earnings of $1.2 million. The company experienced an 11% increase in sales volume over the prior year quarter, with a working capital balance of $116.3 million. The flat-roll segment operations saw significant growth in sales volume and operating profits, while the tubular segment operations faced a decrease in sales due to lower average selling prices. The Company expects a strong fourth quarter for fiscal year 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.83%
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Rhea-AI Summary
Friedman Industries, Incorporated (FRD) announced a share repurchase program, buying back 400,041 shares from Metal One Corporation for $5.1 million. The Board of Directors also authorized the repurchase of up to 1,045,774 shares through December 13, 2026, representing 15% of the outstanding shares after the initial repurchase. The program allows repurchases through various means and is not obligated to acquire a specific amount or number of shares. Chairman and CEO Michael Taylor expressed confidence in the company's future and commitment to enhancing shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.68%
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Rhea-AI Summary
Friedman Industries, Incorporated (FRD) declared a cash dividend of $0.02 per share on the Common Stock, marking the Company’s 208th consecutive quarterly cash dividend. The dividend will be paid on February 16, 2024, to shareholders of record as of January 19, 2024. The Board aims to maintain a stable dividend level and potentially increase it as the Company’s financial position and operations improve.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.75%
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Rhea-AI Summary
Friedman Industries, Incorporated (NYSE American: FRD) announced its Q3 2023 results, reporting net earnings of $3.5 million, sales of $130.7 million, and a 10% increase in sales volume. Despite a decline in steel prices, effective hedging offset physical margin compression. The company expects margin improvement and slightly lower sales volume in Q4 2024. Strategic growth initiatives have expanded steel processing capabilities, broadened geographical reach, and improved earnings.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.2%
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Rhea-AI Summary
Friedman Industries declares cash dividend of $0.02 per share, marking its 207th consecutive quarterly dividend. Dividends reviewed quarterly and may be increased periodically. No guarantee of future dividends.
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Rhea-AI Sentiment
End-of-Day
1.23%
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Rhea-AI Summary
Friedman Industries, Incorporated (NYSE American: FRD) reported net earnings of $7.7 million and sales of $137.3 million for the quarter ended June 30, 2023, with a 23% increase in sales volume over the prior year. The company experienced significant fluctuations in steel prices, impacting margins. Despite lower revenue, the company remains focused on maximizing sales volume and evaluating growth opportunities. The flat-roll segment saw a decrease in sales due to a decline in average selling price, while the tubular segment also experienced a sales decrease. The company anticipates steady demand for the second quarter of fiscal 2024, with lower physical margins expected due to the downward trend in HRC prices.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.09%
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Rhea-AI Summary
Friedman Industries, Incorporated (FRD) announces the launch of its new website, highlighting recent growth initiatives and facilities in East Chicago, IN, Granite City, IL, and Sinton, TX. The website aims to facilitate sales growth, provide shareholders and investors with a better understanding of operations, and offer easy access to important company information.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.89%
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Rhea-AI Summary
Friedman Industries reports strong financial results for the quarter and fiscal year ended March 31, 2023, with net earnings of $6.3 million and $21.3 million respectively. Sales volume increased by 152% and 134% compared to the prior year. The company expects strong performance for the first quarter of fiscal 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
26.63%
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.83%
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Friedman Industries, Inc
NYSE:FRD
FRD Rankings
FRD Stock Data
128.85M
5.52M
4.28%
39.94%
0.17%
Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
Manufacturing
United States of America
LONGVIEW
About FRD
friedman industries inc is an oil and energy company located in 5500 n state highway 137, blytheville, arkansas, united states.