Friedman Industries, Incorporated Announces Second Quarter Results
Friedman Industries (NASDAQ: FRD) reported results for the quarter ended September 30, 2025: net earnings $2.2M ($0.32 diluted EPS) on $152.4M sales, vs. a net loss of $0.7M on $106.8M sales in the year-ago quarter. Sales volume hit a company record with 154,500 tons sold plus 24,500 tons toll processing, up 28% year-over-year.
The company completed the acquisition of Century Metals & Supplies on August 29, 2025, incurred ~$0.9M of related non-recurring expenses, and recognized a ~$0.9M gain on hedging. Total assets were $311.3M and total liabilities $172.0M as of September 30, 2025. Outlook: Q3 fiscal 2026 volume expected to remain consistent with modest margin improvement.
Friedman Industries (NASDAQ: FRD) ha riportato i risultati del trimestre chiuso al 30 settembre 2025: utile netto di 2,2 milioni di dollari (EPS diluito di 0,32 dollari) su vendite di 152,4 milioni di dollari, rispetto a una perdita netta di 0,7 milioni su vendite di 106,8 milioni nello stesso trimestre dell'anno precedente. Il volume delle vendite ha raggiunto un record aziendale con 154.500 tonnellate vendute più 24.500 tonnellate di lavorazione in conto terzi, in aumento del 28% su base annua.
L'azienda ha completato l'acquisizione di Century Metals & Supplies il 29 agosto 2025, sostenuto circa 0,9 milioni di dollari di oneri non ricorrenti correlati e registrato un guadagno di circa 0,9 milioni di dollari su coperture. Gli attivi totali erano 311,3 milioni di dollari e le passività totali 172,0 milioni di dollari al 30 settembre 2025. Prospettive: si prevede che il volume del terzo trimestre fiscale 2026 rimanga costante con un miglioramento modesto dei margini.
Friedman Industries (NASDAQ: FRD) informó los resultados del trimestre terminado el 30 de septiembre de 2025: utilidad neta de 2,2 millones de dólares (EPS diluido de 0,32 dólares) sobre ventas de 152,4 millones de dólares, frente a una pérdida neta de 0,7 millones en ventas de 106,8 millones en el trimestre del año anterior. El volumen de ventas alcanzó un récord de la empresa con 154.500 toneladas vendidas más 24.500 toneladas en procesamiento por encargo, un aumento del 28% interanual.
La compañía completó la adquisición de Century Metals & Supplies el 29 de agosto de 2025, incurrió en aproximadamente 0,9 millones de dólares en gastos no recurrentes relacionados, y reconoció una ganancia de aproximadamente 0,9 millones de dólares por cobertura. Los activos totales eran 311,3 millones de dólares y los pasivos totales 172,0 millones de dólares al 30 de septiembre de 2025. Perspectivas: se espera que el volumen del tercer trimestre fiscal de 2026 permanezca constante con una mejora modesta de los márgenes.
Friedman Industries (NASDAQ: FRD) 는 2025년 9월 30일 종료 분의 실적을 발표했습니다: 순이익 2.2백만 달러 (희석 EPS 0.32 달러) 및 매출 1억 5,240만 달러를 기록했고, 작년 같은 분기 매출 1억 6800만 달러에 비해 순손실 70만 달러를 기록했습니다. 판매량은 154,500톤 판매과 위탁 가공 24,500톤을 합쳐 회사 기록을 경신했고 연간 대비 28% 증가했습니다.
회사는 2025년 8월 29일 Century Metals & Supplies 인수를 완료했고, 관련 비반복적 비용 약 90만 달러를 지출했으며, 헤지로 인한 약 90만 달러의 이익을 인식했습니다. 9월 30일 기준 총자산은 3억 1,130만 달러, 총부채는 1억 7,200만 달러였습니다. 전망: 2026 회계연도 3분기 물량은 변동 없이 유지되며 마진은 다소 개선될 것으로 예상됩니다.
Friedman Industries (NASDAQ: FRD) a publié les résultats du trimestre clos au 30 septembre 2025 : bénéfice net de 2,2 M$ (EPS dilué de 0,32 $) sur un chiffre d'affaires de 152,4 M$, contre une perte nette de 0,7 M$ sur des ventes de 106,8 M$ au trimestre correspondant de l'année précédente. Le volume de ventes a atteint un record pour l'entreprise avec 154 500 tonnes vendues (+ 24 500 tonnes de traitement sous contrat), en hausse de 28 % en glissement annuel.
La société a mené à bien l'acquisition de Century Metals & Supplies le 29 août 2025, engagé environ 0,9 M$ de coûts non récurrents associés, et enregistré un gain d’environ 0,9 M$ sur des couvertures. Les actifs totaux s’élevaient à 311,3 M$ et les passifs totaux à 172,0 M$ au 30 septembre 2025. Perspectives : le volume du troisième trimestre fiscal 2026 devrait rester constant avec une légère amélioration des marges.
Friedman Industries (NASDAQ: FRD) meldete die Ergebnisse für das Quartal zum 30. September 2025: Nettogewinn 2,2 Mio. USD (verwässertes EPS 0,32 USD) bei Umsätzen von 152,4 Mio. USD gegenüber einem Nettoloss von 0,7 Mio. USD bei Umsätzen von 106,8 Mio. USD im Vorjahresquartal. Das Verkaufsvolumen erreichte einen Unternehmensrekord mit 154.500 Tonnen verkauft plus 24.500 Tonnen Auftragsfertigung, yoy um 28 % gestiegen.
Das Unternehmen schloss die Übernahme von Century Metals & Supplies am 29. August 2025 ab, tätigte etwa 0,9 Mio. USD an damit verbundenen nicht wiederkehrenden Aufwendungen und erfasste einen Gewinn von ca. 0,9 Mio. USD aus Absicherung. Die Gesamtaktiva betrugen zum 30. September 2025 311,3 Mio. USD und die Gesamtverbindlichkeiten 172,0 Mio. USD. Ausblick: Das Volumen im dritten Quartal des Geschäftsjahres 2026 dürfte konstant bleiben, mit einer moderaten Margenverbesserung.
فريدمان إندستريز (ناسداك: FRD) أصدرت نتائج الربع المنتهي في 30 سبتمبر 2025: أرباح صافية قدرها 2.2 مليون دولار (ربحية السهم المخفّفة 0.32 دولار) مع إيرادات قدرها 152.4 مليون دولار، مقارنة بخسارة صافية قدرها 0.7 مليون دولار على مبيعات 106.8 مليون دولار في الربع المقارن من العام السابق. بلغ حجم المبيعات رقمًا قياسيًا للشركة بـ 154,500 طن مبيع بالإضافة إلى 24,500 طن معالجة بالإنابة، بزيادة 28% على أساس سنوي.
أكملت الشركة استحواذ Century Metals & Supplies في 29 أغسطس 2025، وتكبدت نحو 0.9 مليون دولار من مصاريف غير متكررة ذات صلة، وتعرّفت على مكسب نحو 0.9 مليون دولار من التحوط. كانت الأصول الإجمالية 311.3 مليون دولار والالتزامات الإجمالية 172.0 مليون دولار حتى 30 سبتمبر 2025. التوقعات: من المتوقع أن يظل حجم الربع الثالث من السنة المالية 2026 ثابتاً مع تحسن هامشي في الهوامش.
- Sales +43% YoY to $152.4M in Q2 2026
- Record sales volume of 154,500 tons (Q2 2026)
- Net earnings $2.2M vs. $0.7M loss year-ago quarter
- Completed Century Metals & Supplies acquisition on Aug 29, 2025
- Total assets $311.3M at Sep 30, 2025
- Non-recurring acquisition expenses of $0.9M in the quarter
- Total liabilities rose to $172.0M from $94.4M (Mar 31, 2025)
- Tubular segment volume declined to 7,500 tons from 9,000 tons YoY
Insights
Record volume and a return to profitability led by higher sales and an acquisition; balance sheet expands with related liabilities.
The company reported net earnings of
The balance sheet shows larger current and noncurrent liabilities (total liabilities
Key dependencies and near-term monitors include integration progress and cost synergies from the acquired business, the sustainability of the higher per-ton selling prices, and whether hedging gains persist; watch quarterly sales volume and margins over the next
LONGVIEW, Texas, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended September 30, 2025.
September 30, 2025 Quarter Highlights:
- Net earnings of
$2.2 million - Sales of
$152.4 million : up43% year-over-year - Highest sales volume in Company history: up
28% year-over-year and up12% quarter-over-quarter - Acquisition of Century Metals & Supplies on August 29, 2025
“This quarter marks a significant milestone for Friedman, as we achieved record sales volume driven by our focused efforts to improve capacity utilization across our operations,” said Michael J. Taylor, President and Chief Executive Officer. “At the same time, we successfully completed the acquisition of Century Metals & Supplies which expands our product portfolio, processing capabilities, and geographic reach. These accomplishments reflect the strength of our strategy, the dedication of our team, and the trust of our customers. With our enhanced scale and capabilities, we are better positioned than ever to deliver innovative solutions to our customers and sustainable growth to our shareholders,” Taylor concluded.
For the quarter ended September 30, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately
The table below provides our unaudited statements of operations for the three- and six-month periods ended September 30, 2025 and 2024:
| SUMMARY OF OPERATIONS (unaudited) | ||||||||||||||||
| (In thousands, except for per share data) | ||||||||||||||||
| Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Net Sales | $ | 152,383 | $ | 106,759 | $ | 287,160 | $ | 221,310 | ||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of materials sold (excludes items shown separately below) | 126,082 | 88,761 | 231,786 | 184,656 | ||||||||||||
| Processing and warehousing expense | 9,064 | 7,861 | 18,392 | 16,558 | ||||||||||||
| Delivery expense | 7,134 | 5,381 | 13,534 | 11,432 | ||||||||||||
| Selling, general and administrative expense | 6,287 | 3,935 | 11,742 | 8,446 | ||||||||||||
| Depreciation and amortization | 937 | 823 | 1,784 | 1,618 | ||||||||||||
| Loss on disposal of property, plant and equipment | - | 222 | - | 222 | ||||||||||||
| Earnings (loss) from operations | 2,879 | (224 | ) | 9,922 | (1,622 | ) | ||||||||||
| Gain on economic hedges of risk | 851 | 194 | 1,127 | 5,569 | ||||||||||||
| Interest expense | (754 | ) | (869 | ) | (1,432 | ) | (1,550 | ) | ||||||||
| Other income (expense) | 1 | (3 | ) | 5 | - | |||||||||||
| Earnings (loss) before income taxes | 2,977 | (902 | ) | 9,622 | 2,397 | |||||||||||
| Income tax expense (benefit) | 737 | (227 | ) | 2,354 | 505 | |||||||||||
| Net earnings (loss) | $ | 2,240 | $ | (675 | ) | $ | 7,268 | $ | 1,892 | |||||||
| Net earnings (loss) per share: | ||||||||||||||||
| Basic | $ | 0.32 | $ | (0.10 | ) | $ | 1.03 | $ | 0.27 | |||||||
| Diluted | $ | 0.32 | $ | (0.10 | ) | $ | 1.03 | $ | 0.27 | |||||||
The table below provides summarized unaudited balance sheets as of September 30, 2025 and March 31, 2025:
| SUMMARIZED BALANCE SHEETS (unaudited) | |||||||
| (In thousands) | |||||||
| September 30, 2025 | March 31, 2025 | ||||||
| ASSETS: | |||||||
| Current Assets | $ | 231,325 | $ | 166,467 | |||
| Noncurrent Assets | 79,964 | 60,355 | |||||
| Total Assets | $ | 311,289 | $ | 226,822 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY: | |||||||
| Current Liabilities | $ | 71,377 | $ | 38,324 | |||
| Noncurrent Liabilities | 100,639 | 56,073 | |||||
| Total Liabilities | 172,016 | 94,397 | |||||
| Total Stockholders' Equity | 139,273 | 132,425 | |||||
| Total Liabilities and Stockholders' Equity | $ | 311,289 | $ | 226,822 | |||
FLAT-ROLL SEGMENT OPERATIONS
Flat-roll product segment sales for the 2025 quarter totaled approximately
TUBULAR SEGMENT OPERATIONS
Tubular product segment sales for the 2025 quarter totaled approximately
HEDGING ACTIVITIES
We utilize hot-rolled coil (“HRC”) futures, options and swaps to manage price risk on unsold inventory and longer-term fixed price sales agreements. We typically account for our hedging activities under mark-to-market (“MTM”) accounting treatment and all hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different period than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately
OUTLOOK
The Company anticipates that third quarter fiscal 2026 sales volume will remain consistent with second quarter levels, as the additional volume from the Century Metals & Supplies acquisition is expected to offset the anticipated holiday-related slowdown during the quarter. Margins are expected to improve modestly quarter over quarter, driven by anticipated increases in metals pricing during the third quarter.
“As we look ahead, we remain focused on executing our growth strategy with discipline and agility,” Taylor said. “The integration of Century Metals & Supplies is progressing well, and we are already seeing promising synergies that will enhance our performance in the future. With a resilient business model, a strong balance sheet, and an exceptional team, Friedman is well positioned to continue delivering value for our customers, employees, and shareholders.”
ABOUT FRIEDMAN INDUSTRIES
Friedman Industries, Incorporated (“the Company”), headquartered in Longview, Texas, is a diversified metals processing and pipe manufacturing company operating through two segments: Flat-Roll Products and Tubular Products.
The Flat-Roll Products segment includes processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas, as well as a distribution facility in Orlando, Florida. This segment processes carbon steel, stainless steel, and aluminum flat-rolled products. The Hickman, East Chicago, and Granite City facilities operate temper mills and corrective leveling cut-to-length lines; the Sinton and Decatur facilities operate stretcher leveler cut-to-length lines; and the Miami facility operates both a corrective leveling cut-to-length line and a slitting line.
The Tubular Products segment operates in Lone Star, Texas, where the Company manufactures electric resistance welded (ERW) pipe and distributes pipe through its Texas Tubular Products division.
For more information, visit www.friedmanindustries.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release.
Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements.
Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires.
For further information, please refer to the Company's Form 10-Q as filed with the SEC on November 10, 2025 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.
FAQ
What were Friedman Industries (FRD) Q2 2026 sales and EPS on Nov 10, 2025?
How much did Friedman Industries' sales volume increase in the quarter ended Sept 30, 2025 (FRD)?
When did Friedman Industries complete the Century Metals acquisition and what was the cost impact (FRD)?
What is Friedman Industries' balance sheet position at Sept 30, 2025 (FRD)?
What did Friedman say about outlook for fiscal Q3 2026 sales and margins (FRD)?
