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Friedman Industries, Incorporated filings document material events for a Texas-based metals processor and pipe manufacturer. Recent Form 8-K disclosures cover quarterly results furnished under Item 2.02, Regulation FD updates on facility expansion plans, credit facility amendments, and direct financial obligation disclosures tied to the company’s borrowing arrangements.
The filing record also documents the completed Century Metals and Supplies asset acquisition, including the original material agreement report and an amended Form 8-K with acquired-business financial statements and pro forma financial information. Governance filings report annual meeting voting results, director elections, advisory executive compensation votes and related shareholder matters.
FRIEDMAN INDUSTRIES INC (FRD) entered into a Seventh Amendment to its Amended and Restated Credit Agreement on September 3, 2026. The amendment increases the aggregate commitments under the revolving credit facility from $140 million to $200 million with lenders led by JPMorgan Chase Bank, N.A. as administrative agent. The company states that this expansion was completed to align the credit facility size with growth in the underlying borrowing base, and the amendment also makes certain conforming changes to threshold amounts.
Friedman Industries, Incorporated reported strong first quarter fiscal 2027 results for the quarter ended June 30, 2026, with net earnings of approximately $12.8 million or $1.79 diluted EPS on net sales of approximately $240.0 million, compared to net earnings of about $5.0 million on net sales of about $134.8 million a year earlier. EBITDA increased to approximately $19.3 million from about $8.2 million, and operating cash flow was $7.3 million. Sales were up 78% year-over-year, supported by record quarterly sales volume of roughly 206,000 tons, up 28% year-over-year.
Flat-roll segment sales were about $221.8 million, with inventory tons sold rising to roughly 175,000 and average selling price improving to about $1,262 per ton, driving operating earnings of around $24.7 million versus $8.8 million in the prior-year quarter. Tubular segment sales increased to about $18.2 million on 13,500 tons sold, with average selling price of roughly $1,341 per ton and operating earnings of about $2.1 million. Management expects second quarter sales volumes to be comparable to first quarter levels and anticipates sequential margin improvement driven by higher average selling prices.
Friedman Industries, Incorporated reported results for the quarter ended June 30, 2026, with net sales of $239,971 thousand, up from $134,777 thousand a year earlier. Net earnings were $12,784 thousand versus $5,028 thousand, and basic and diluted earnings per share were $1.79 compared with $0.71. Non-GAAP adjusted gross profit increased to $55,752 thousand, or 23.2% of sales, from $29,073 thousand, or 21.6%.
Flat-roll segment sales reached $221,753 thousand and tubular sales $18,218 thousand, driven by higher average selling prices and increased tons shipped, including volume from the Century Metals & Supplies acquisition. Operating income rose to $21,034 thousand despite a $2,756 thousand loss on economic hedges and higher incentive and Century-related selling, general and administrative expenses. Working capital was about $190,800 thousand with a current ratio of 2.9, and the company had approximately $91.5 million outstanding under its $140 million asset-based lending facility at a 5.3% interest rate, ending the quarter with $7,992 thousand in cash and restricted cash.
BlackRock, Inc. filed as an institutional owner of Friedman Industries, Inc. common stock. BlackRock reports beneficial ownership of 394,868 shares, representing 5.6% of the class. It has sole voting power over 389,463 shares and sole dispositive power over 394,868 shares, with no shared voting or dispositive power reported.
The filing notes that these holdings reflect securities beneficially owned, or deemed to be beneficially owned, by certain business units of BlackRock and its subsidiaries and affiliates, and exclude other disaggregated business units. Various underlying clients have rights to dividends or sale proceeds, but no single client holds more than five percent of Friedman Industries’ outstanding common shares.
Friedman Industries, Incorporated is calling a 2026 annual shareholder meeting on September 22, 2026, with 7,212,791 common shares entitled to vote as of July 27, 2026. Shareholders will vote on electing six directors, an advisory “Say‑on‑Pay” resolution, ratifying Baker Tilly US, LLP as auditor for the year ending March 31, 2027, and amending the Articles of Incorporation to let shareholders amend the bylaws, subject to a 75% voting‑power threshold.
The proxy describes a largely independent board, formal charters for Audit, Compensation and Nominating Committees, a clawback policy compliant with Section 10D, and an insider‑trading policy that prohibits hedging. For fiscal 2026, CEO Michael J. Taylor received total compensation of $2,709,607 and COO Gaurav Chhibbar $2,518,500, while net earnings were $19,533,000 and the company’s total shareholder return value reached 156.88 on a $100 base. Equity awards outstanding and available under plans, change‑in‑control severance multiples (up to 3x for certain executives), and $864,200 of 2026 audit fees to Baker Tilly are also detailed.
Friedman Industries, Incorporated is calling an Annual Meeting of Shareholders on September 22, 2026, in Houston, with a record date of July 27, 2026, covering 7,212,791 common shares entitled to one vote each. Shareholders will vote on electing six directors (following the retirement of Tim Stevenson), an advisory Say‑on‑Pay resolution on named executive officer compensation, ratification of Baker Tilly US, LLP as independent auditor for the year ending March 31, 2027, and an amendment to the Articles of Incorporation to allow shareholders to amend the bylaws with a 75% voting power threshold.
The proxy describes a largely independent board, combined Chairman/CEO structure, committee charters, a clawback policy, and an insider‑trading and hedging policy. For fiscal 2026, CEO Michael J. Taylor received total compensation of $2,709,607, CFO Alex LaRue $870,434, and COO Gaurav Chhibbar $2,518,500. Reported 2026 net earnings were $19,533,000, and the company highlights pay‑versus‑performance data and equity incentives, including 521,696 shares available under equity compensation plans.
Taylor Mike J reported acquisition or exercise transactions in this Form 4 filing.
Friedman Industries President and CEO Mike J. Taylor received a grant of 30,000 shares of restricted Common Stock. Following this award, he directly holds 253,166 shares. Half of the new shares vest in equal annual installments over three years starting April 1, 2026, and half vest based on performance criteria tied to earnings before tax and working capital-related metrics over the same three-year period, all subject to continued employment.
LaRue Alex reported acquisition or exercise transactions in this Form 4 filing.
Friedman Industries reported that Chief Financial Officer Alex LaRue received a grant of 10,000 shares of restricted Common Stock at no purchase price. Following this award, LaRue directly holds 41,646 shares.
Half of the restricted shares will vest in equal amounts each year over three years starting on April 1, 2026. The remaining half will vest based on performance criteria tied to earnings before tax and levels of accounts receivable, inventory, and property, plant and equipment over a three-year period beginning April 1, 2026. All vesting requires continued employment with the company.
Chhibbar Gaurav reported acquisition or exercise transactions in this Form 4 filing.
Friedman Industries Chief Operating Officer Gaurav Chhibbar reported an equity compensation award of 15,000 shares of restricted Common Stock on June 3, 2026, at a grant price of $0.00 per share. Following this grant, he directly holds 66,400 Common shares.
According to the award terms, half of the restricted shares will vest in equal amounts each year over three years starting April 1, 2026. The remaining half will vest based on performance criteria tied to earnings before tax and levels of accounts receivable, inventory, and property, plant and equipment over a three-year period beginning on the same date. All vesting is contingent on his continued employment with the company.
Friedman Industries reported sharply stronger results for Q4 and fiscal 2026. For the quarter ended March 31, 2026, net earnings increased to about $9.2 million on sales of $191.8 million, with diluted EPS of $1.30 and EBITDA of roughly $15.2 million. Management highlighted that quarterly sales volume reached the highest level in company history.
For fiscal 2026, net earnings rose to about $19.5 million on sales of $646.9 million, with diluted EPS of $2.76 and EBITDA of about $34.3 million. Sales volume grew to approximately 706,000 tons, aided mainly by same-facility growth and contributions from the Century Metals acquisition. Total assets were $336.8 million and stockholders’ equity was $151.5 million as of March 31, 2026.