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Friedman Industries, Incorporated reports developments in metals processing, pipe manufacturing and metals distribution through two operating segments: flat-roll products and tubular products. Its flat-roll operations process carbon steel, stainless steel and aluminum products using temper mills, cut-to-length lines, stretcher levelers and slitting capabilities. Its tubular products segment manufactures electric resistance welded pipe and distributes pipe through the Texas Tubular Products division.
Company news commonly covers quarterly operating results, sales volume trends, cash dividend declarations, acquisitions, facility investments and added processing capabilities. Recent business updates also include the completed Century Metals and Supplies acquisition, which expanded Friedman’s product portfolio, processing capabilities and geographic reach in the southeastern United States and Latin American markets.
Friedman Industries (NASDAQ/GS: FRD), a Texas-based company specializing in steel processing, pipe manufacturing, and distribution, has declared a quarterly cash dividend of $0.04 per share. The dividend will be paid on August 8, 2025, to shareholders of record as of July 18, 2025.
This marks FRD's 214th consecutive quarterly dividend since its public listing in 1972. The company's Board of Directors reviews dividends quarterly, aiming to maintain stable payments that can be potentially increased as financial conditions permit.
Friedman Industries (FRD), a leading steel products manufacturer and processor, has announced its decision to transfer its common stock listing from NYSE American to the Nasdaq Global Select Market. The transition will take effect on April 8, 2025, with the company retaining its symbol 'FRD'. Trading on NYSE American will continue until market close on April 7, 2025.
According to CEO Michael Taylor, this strategic move aims to enhance market visibility and attract increased investor capital. The company expects the Nasdaq listing to potentially improve trading liquidity and expand institutional ownership while supporting Friedman's objective of building long-term equity value.
Friedman Industries (NYSE American: FRD), a Texas-based company specializing in steel processing, pipe manufacturing, and steel and pipe distribution, has announced a quarterly cash dividend of $0.04 per share. The dividend will be paid on May 23, 2025, to shareholders of record as of April 25, 2025.
This marks FRD's 213th consecutive quarterly dividend since its public listing in 1972. The Board of Directors reviews dividends quarterly, aiming to maintain stable payments with potential periodic increases based on the company's financial position and operations. The dividend decision considers various factors including financial condition, operating results, cash needs, and growth plans.
Friedman Industries (NYSE American: FRD) reported Q3 fiscal 2024 results with sales of $94.1 million and a net loss of $1.2 million ($0.17 loss per share), compared to net earnings of $1.2 million ($0.16 earnings per share) on sales of $116.0 million in Q3 2023.
The company faced challenging conditions with industry-wide pricing pressure and reduced sales volume due to political uncertainty and holidays. However, sales order activity increased following the presidential election, with quarter-end sales backlog volume up 11% year-over-year. The flat-roll segment recorded operating profits of $1.3 million on sales of $86.1 million, while the tubular segment posted a $0.2 million operating loss on sales of $7.9 million.
The company maintains a strong financial position with working capital of $107 million and generated operating cash flow of $2.7 million during the quarter, reducing debt by 9%.
Friedman Industries (NYSE American: FRD) announced its Board of Directors has declared a cash dividend of $0.04 per share on December 3, 2024. The dividend will be paid on February 14, 2025 to shareholders of record as of January 17, 2025.
This marks the company's 212th consecutive quarterly dividend since its public listing in 1972. The Board reviews dividends quarterly, aiming to maintain stable payments with potential periodic increases based on financial performance and operational support. While the company intends to continue its dividend practice, future payments are subject to various factors including financial condition, operating results, cash needs, and growth plans.
Friedman Industries reported Q2 FY2024 results with sales of $106.8 million and a net loss of $0.7 million ($0.10 loss per share), compared to net earnings of $3.5 million ($0.48 per share) in Q2 FY2023. The company faced challenging conditions due to industry-wide pricing pressure and soft demand. Sales volume included 121,500 tons of inventory sold and 18,000 tons of toll processing. Working capital balance stood at $111.7 million, with operating cash flow of $10.8 million. The company reduced debt by 22% during the quarter. Hot-rolled coil prices stabilized after declining since early 2024, leading to reduced hedging activities.
Friedman Industries (NYSE American: FRD), a Texas-based company specializing in steel processing, pipe manufacturing, and distribution, has announced its 211th consecutive quarterly cash dividend since going public in 1972. The Board of Directors declared a $0.04 per share dividend on September 18, 2024, payable on November 15, 2024 to shareholders of record as of October 25, 2024.
The company's dividend policy aims for stability and potential periodic increases based on financial performance. While Friedman Industries intends to continue its long-standing dividend practice, it cautions that future payments are not guaranteed and depend on various factors including financial condition, operating results, and growth plans.
Friedman Industries (NYSE American: FRD) announced its Q1 2024 results, reporting net earnings of $2.6 million ($0.37 diluted EPS) on net sales of $114.6 million. This compares to net earnings of $7.7 million ($1.04 diluted EPS) on net sales of $137.3 million in Q1 2023. The company's working capital balance at quarter-end was $123.6 million.
Sales volume decreased to 119,000 tons of inventory sold and 24,000 tons of toll processing, down from 129,000 tons and 24,000 tons respectively in Q1 2023. The decline was attributed to challenging customer conditions and planned downtime for equipment upgrades. The company captured hedging gains of $5.4 million, offsetting physical margin compression due to declining HRC prices.
Friedman Industries (NYSE American: FRD) announced a cash dividend of $0.04 per share, declared by the Board of Directors on June 26, 2024. This dividend will be paid on August 16, 2024, to shareholders of record as of July 26, 2024. Notably, this marks the 210th consecutive quarterly cash dividend since the company went public in 1972. Dividends are reviewed quarterly and are intended to remain stable, with potential for increase as financial conditions allow. The company emphasizes that while it aims to continue this practice, future dividends are not guaranteed.