Welcome to our dedicated page for Friedman Inds news (Ticker: FRD), a resource for investors and traders seeking the latest updates and insights on Friedman Inds stock.
Friedman Industries, Incorporated (FRD) is a Texas-based manufacturer and processor of steel products with operations across multiple U.S. locations. The company’s news flow reflects its activities in metals processing, pipe manufacturing, and steel and pipe distribution, as well as its role in the flat-roll and tubular steel markets. Investors following FRD news can track developments in its flat-roll products segment, tubular products segment, and broader corporate initiatives.
Recent company announcements have covered quarterly and annual financial results, highlighting sales volumes, segment performance, and the impact of hedging activities using hot-rolled coil (HRC) futures, options, and swaps. Earnings releases also provide detail on the performance of flat-roll facilities in Arkansas, Alabama, Indiana, Illinois, Texas, and Florida, and on tubular operations in Lone Star, Texas where electric resistance welded (ERW) pipe is manufactured and distributed through the Texas Tubular Products division.
Friedman’s news includes updates on corporate actions such as the acquisition of Century Metals and Supplies, Inc., which the company describes as expanding its presence in the southeastern U.S. and Latin American markets, enhancing its hot-rolled steel business, adding coil slitting capabilities, and broadening its product portfolio to include additional steel and non-ferrous materials. Other notable items include the transfer of FRD’s listing to the Nasdaq Global Select Market, inclusion in the Russell 3000 and Russell 2000 indexes, and changes related to the company’s independent registered public accounting firm.
Dividend announcements are a recurring feature of Friedman’s news, with the company emphasizing a long record of quarterly cash dividends since becoming publicly traded in 1972. Governance-related news, including proxy materials and annual meeting results, provides insight into director elections, executive compensation advisory votes, and long-term incentive plans. For investors and analysts, the FRD news page on Stock Titan offers a centralized view of these developments, supporting ongoing monitoring of the company’s operational, financial, and corporate milestones.
Friedman Industries has acquired two strategic facilities from Plateplus, enhancing its position in the North American steel service market. The acquisition, finalized on April 30, 2022, was valued at $63.8 million in cash and stock. Key benefits include expanded processing capabilities and increased volume, expected to more than double the annual output of its coil product segment. The deal also strengthens customer relationships and supply chain efficiencies, leveraging logistics advantages. Friedman anticipates immediate profitability from the transition of Plateplus's business operations to its facilities.
Friedman Industries, a Texas-based pipe manufacturing firm, announced a cash dividend of $0.02 per share, set for payment on May 27, 2022. Shareholders of record as of April 29, 2022 will receive this dividend, marking the company's 201st consecutive quarterly payout. Since its public trading debut in 1972, Friedman has consistently paid dividends. The Board aims to sustain this level while considering financial conditions and growth plans. However, future payments are not guaranteed.
The Company reported a net loss of $2.96 million for Q3 2021, significantly down from net earnings of $2.13 million in Q3 2020. Sales rose to $51.66 million, driven by increased average selling prices despite a decline in sales volume. Hot-rolled coil futures impacted results, leading to a net loss of $12.99 million from hedging. The Company is optimistic about its new Sinton, Texas facility, expecting operations to start by August 2022 with anticipated EBITDA of $4.5 to $5.5 million annually, contributing positively to future margins.
The Board of Directors of Friedman Industries declared a cash dividend of $0.02 per share on December 14, 2021. This dividend will be paid on February 11, 2022, to shareholders of record by January 14, 2022. This marks the company's 200th consecutive quarterly cash dividend, having paid dividends every quarter since going public in 1972. The Board aims to maintain a stable dividend level for the foreseeable future, with potential increases based on financial and operational performance.
The Company reported a record net earnings of $13,177,614 ($1.91 diluted EPS) for the fiscal second quarter ending September 30, 2021, on sales of $92,570,895, compared to a net loss of $250,005 for the same period in 2020. Earnings were driven by historic increases in hot-rolled steel prices, approximately 280% higher than the previous year. Both coil and tubular segments contributed to profits, with coil segment sales soaring to $78,323,927. The company also broke ground on a $21 million new facility in Sinton, Texas, expected to significantly boost production.
The Board of Directors of Friedman Industries, Incorporated declared a cash dividend of $0.02 per share on September 10, 2021. This dividend will be paid on November 12, 2021, to shareholders of record as of October 8, 2021. This marks the Company's 199th consecutive quarterly cash dividend, a trend maintained since it became publicly traded in 1972. The Board aims to maintain a sustainable dividend level while considering financial conditions and operational results.
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.