Friedman Inds Stock Price, News & Analysis

Friedman Industries reported outstanding fiscal Q1 results, marking the most profitable quarter in its history with net earnings of $11.31 million or $1.64 EPS, compared to a $858,862 loss in Q1 2020. Net sales soared to $65.92 million, driven by a significant increase in hot-rolled steel prices, which rose about 200% year-over-year. The Decatur facility's new cut-to-length line contributed to this success. The company also broke ground on a new facility in Sinton, Texas, aiming to capitalize on growth opportunities in the coil segment.

Friedman Industries reported its most profitable quarter and second most profitable fiscal year on record. For the quarter ended March 31, 2021, net earnings reached $10.4 million ($1.50 per share), up from a loss of $3 million a year earlier. Annual net earnings for fiscal 2021 were $11.4 million on sales of $126.1 million, following a loss in fiscal 2020. Strong margins benefited from a historic rise in steel prices, while operational expansions and increased customer base in coil segments are set to enhance market position. The company anticipates continued margin strength going into fiscal 2022.

Friedman Industries, a Texas-based pipe manufacturing firm, declared a cash dividend of $0.02 per share on June 28, 2021. This cash dividend is set to be paid on August 6, 2021, to shareholders of record as of July 16, 2021. This marks the company’s 198th consecutive quarterly cash dividend, maintaining a dividend payment record since 1972. The Board aims to stabilize future dividends, contingent on the company’s financial health and operational results. However, there is no guarantee for future dividend payments.

Friedman Industries (FRD) announced strong guidance for its fiscal Q4, expecting net earnings between $9.5 million and $10.5 million, translating to diluted EPS of $1.37 to $1.52, marking its most profitable quarter. This surge in earnings is attributed to rising steel prices and improved risk management. The company plans a new facility in Sinton, Texas, estimated at $21 million, to enhance production capabilities and serve a broader customer base. Operations are set to commence in April 2022. A $40 million credit facility will help fund this project.

Friedman Industries, a Texas-based pipe manufacturing company, declared a cash dividend of $0.02 per share on March 24, 2021. This dividend, to be paid on May 21, 2021, is for shareholders of record by April 23, 2021. Notably, this marks the 197th consecutive quarterly cash dividend since the company went public in 1972. While the Board aims to maintain stable dividends and increase them when possible, it cautions that future payments are not guaranteed and depend on various financial factors.

Friedman Industries (FRD) reported a significant turnaround for Q3 2020, achieving net earnings of $2.13 million ($0.30 per share) compared to a net loss of $881,003 in Q3 2019. This success is attributed to a 124% increase in hot-rolled steel prices and gains from derivative contracts. Sales reached $28.5 million, slightly up from $28.15 million YoY. The coil segment improved margins, while the tubular segment saw sales decline due to lower average prices. The company continues its capital project in Alabama and expects strong margins in the upcoming quarter amid ongoing COVID-19 challenges.

On December 9, 2020, Friedman Industries, trading as FRD, declared a cash dividend of $0.02 per share on its Common Stock. This dividend will be paid on February 5, 2021, to shareholders of record as of January 8, 2021. This announcement marks the 196th consecutive quarterly cash dividend since the company became publicly traded in 1972. The Board's intent is to maintain a stable dividend, which they may increase based on the company’s financial strength and operations.

Friedman Industries (FRD) reported a net loss of $250,005 for Q2 2020, a significant reduction from a loss of $1,544,137 in Q2 2019. Sales decreased to $24,861,680, down from $39,995,580, primarily due to declining steel prices and COVID-19 impacts. Both coil and tubular segments faced challenges, with coil sales dropping to $18,456,086 and tubular sales declining to $6,405,594. Despite these setbacks, margins began to improve late in Q2 due to rising steel prices. The company also advanced a $7.2 million capital project at its Decatur facility, enhancing processing capabilities.

Friedman Industries declared a cash dividend of $0.02 per share on September 10, 2020, to be paid on November 13, 2020, to shareholders of record as of October 9, 2020. This marks the company's 195th consecutive quarterly dividend since going public in 1972. The Board aims to maintain a stable dividend level that may increase as the company’s financial position supports it. The intention to continue dividend payments is subject to the company’s financial condition, operating results, and cash needs.