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Friedman Industries, Inc - FRD STOCK NEWS

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.

Friedman Industries, Inc. (NYSE American: FRD) is a prominent player in the oil and energy sector, situated at 5500 N State Highway 137, Blytheville, Arkansas. The company has made a name for itself through the manufacturing and processing of high-quality steel products, with operations divided into two primary segments: Coil Products and Tubular Products. Notably, the Coil Products segment generates the majority of the company's revenue.

Friedman Industries offers a diverse range of products and services, including:

  • Temper Pass
  • Cut-To-Length
  • Whole Coils
  • Toll Processing
  • Electric Resistance Welded Pipe (ERW)
  • New Mill Secondary
  • Pipe Finishing Services

Recent company achievements and updates include:

  • On August 07, 2023, Friedman Industries released a FORM 10-K update.
  • On August 14, 2023, the company announced its quarterly results for the period ending June 30, 2023.
  • On November 14, 2023, the company disclosed its quarterly results for the period ending September 30, 2023, and progress on strategic growth initiatives.
  • On June 11, 2024, Friedman Industries revealed its financial results for the quarter and fiscal year ending March 31, 2024.

Friedman Industries continues to focus on enhancing its operational efficiency and expanding its market presence. The company’s robust portfolio and strategic initiatives underscore its commitment to delivering value to its shareholders and customers.

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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.
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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.
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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.
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Friedman Industries, Incorporated (NYSE: FRD) announced a cash dividend of $0.02 per share, payable on May 26, 2023, to shareholders of record by April 28, 2023. This marks the company's 205th consecutive quarterly dividend, having consistently paid dividends since becoming public in 1972. The Board of Directors aims to maintain stable dividends and potentially increase them as financial conditions allow. Significant factors for this decision include financial health and future cash needs. However, declarations are subject to Board discretion and may change.

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Friedman Industries (FRD) reported net earnings of $1.38 million ($0.19 EPS) for the third quarter ended December 31, 2022, contrasting a net loss of $2.96 million (-$0.45 EPS) from the previous year. Sales surged to $111.86 million from $51.66 million due to increased volume from newly acquired facilities and a new plant in Sinton, Texas. The company processed 113,000 tons of steel compared to 39,000 tons in the same quarter last year. Despite rising hot-rolled coil prices, margins were pressured during the quarter. The company anticipates continued growth, projecting 115,000 to 125,000 tons in the next quarter with margin improvements expected.

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Friedman Industries, Incorporated (NYSE: FRD) declared a cash dividend of $0.02 per share on December 5, 2022, which will be paid on February 10, 2023, to shareholders of record on January 13, 2023. This dividend represents the company’s 204th consecutive quarterly cash dividend, continuing its record since becoming publicly traded in 1972. The Board aims to maintain a stable dividend level, subject to the company’s financial condition and operational performance.

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Friedman Industries reported net earnings of $2.47 million ($0.34 per share) for Q2 2022, a significant decline from $13.18 million ($1.91 per share) in Q2 2021, despite sales rising to $149.69 million from $92.57 million.

Challenges stemmed from a 47% drop in hot-rolled coil (HRC) prices compared to a prior surge, leading to margin compression. Coil segment sales increased due to acquisition, though operational losses of $1.12 million were reported. A positive outlook anticipates slight margin improvements and adjusted sales volumes for Q3 2023.

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Friedman Industries announced the commencement of operations at its new Sinton, Texas coil processing facility, which covers 70,000 square feet and is designed to handle steel coils up to 1” thick and 96” wide. The facility has received positive customer feedback and is currently operating at a single shift as staffing increases for future production. The company is addressing filing delays with a Form NT 10-Q due to a significant acquisition and subsequent requirements. They have six months to resolve the filing delinquency with NYSE American, which includes a potential indicator on their ticker.

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Friedman Industries reported its fiscal Q1 results, highlighting a net earnings of $11.2M ($1.55 EPS) on sales of $161.8M, compared to $11.3M ($1.64 EPS) on $65.9M last year. The acquisition of steel processing facilities in East Chicago and Granite City contributed $53.6M in revenue. The company benefited from rising steel prices, driven by market reactions to the Russia-Ukraine conflict. Coil segment sales surged to $142.9M, while tubular segment sales reached $18.9M. The company anticipates sales of $150M in the next quarter, despite recent price declines affecting margins.

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FAQ

What is the current stock price of Friedman Industries (FRD)?

The current stock price of Friedman Industries (FRD) is $16.04 as of October 8, 2024.

What is the market cap of Friedman Industries (FRD)?

The market cap of Friedman Industries (FRD) is approximately 113.2M.

What are the primary operating segments of Friedman Industries, Inc.?

The primary operating segments of Friedman Industries, Inc. are Coil Products and Tubular Products.

Where is Friedman Industries, Inc. located?

Friedman Industries, Inc. is located at 5500 N State Highway 137, Blytheville, Arkansas, United States.

What products and services does Friedman Industries, Inc. offer?

Friedman Industries, Inc. offers products and services including Temper Pass, Cut-To-Length, Whole Coils, Toll Processing, Electric Resistance Welded Pipe (ERW), New Mill Secondary, and Pipe Finishing Services.

Which segment generates the most revenue for Friedman Industries, Inc.?

The Coil Products segment generates the most revenue for Friedman Industries, Inc.

When did Friedman Industries, Inc. release its FORM 10-K update?

Friedman Industries, Inc. released its FORM 10-K update on August 07, 2023.

What were the results for Friedman Industries, Inc. for the quarter ending June 30, 2023?

Friedman Industries, Inc. announced its results for the quarter ending June 30, 2023, on August 14, 2023.

When did Friedman Industries, Inc. announce its results for the quarter ending September 30, 2023?

Friedman Industries, Inc. announced its results for the quarter ending September 30, 2023, on November 14, 2023.

What strategic initiatives is Friedman Industries, Inc. currently pursuing?

Friedman Industries, Inc. is focusing on strategic growth initiatives to enhance operational efficiency and expand market presence.

When were the financial results for the fiscal year ending March 31, 2024, announced?

The financial results for the fiscal year ending March 31, 2024, were announced on June 11, 2024.

What is the trading symbol for Friedman Industries, Inc.?

The trading symbol for Friedman Industries, Inc. is FRD.

Friedman Industries, Inc

NYSE:FRD

FRD Rankings

FRD Stock Data

113.24M
6.97M
4.63%
48.79%
0.15%
Steel
Steel Works, Blast Furnaces & Rolling & Finishing Mills
Link
United States of America
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