Friedman Inds Stock Price, News & Analysis

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.

Friedman Industries (NYSE: FRD) reported a net loss of $858,862 or $0.12 diluted loss per share for the first quarter ending June 30, 2020, a decline from a profit of $194,772 or $0.03 per share during the same period in 2019. Net sales fell to $23.5 million from $41 million year-over-year, driven by reduced hot-rolled steel prices and COVID-19 impacts. The company continues capital initiatives including a $5.8 million investment in improving processing capabilities.

Friedman Industries announced a share repurchase program to buy back up to 1,062,067 shares, reflecting confidence in future prospects. For the quarter ended March 31, 2020, the company reported a net loss of $3,018,842 on sales of $32,980,607, a sharp decline from the previous year. Impairment losses and price volatility in steel impacted results significantly. Despite challenges due to COVID-19, the company is undertaking strategic initiatives, including facility expansions and a stable dividend philosophy, aiming to enhance shareholder value.