Business
Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2025 Results
LONGVIEW, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the
About this update from Friedman Industries Inc.
[{"type":"text","content":"LONGVIEW, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2025. March 31, 2025 Quarter Highlights: Net earnings of $5.3 millionSales of $129.2 millionHighest sales volume in Company history28% increase in sales volume over the preceding third quarter5% increase in sales volume over the prior year fourth quarter Fiscal Year March 31, 2025 Highlights: Net earnings of $6.1 millionSales of $444.6 millionWorking capital balance at year-end of $128.1 million “We ended fiscal 2025 with improved margins and a record quarter for sales volume as we continue to execute on our growth strategy,” said Michael J. Taylor, President and Chief Executive Officer. “Our fourth quarter sales volume increased 28% over the preceding third quarter and was 5% higher than the prior year quarter. Steel prices increased 35% during the fourth quarter enabling margin improvement after a difficult margin environment for the first three quarters.” Taylor continued, “We are pleased to report $6.1 million of net earnings for fiscal 2025 in a year that presented challenging steel price trends combined with complex economic and political factors. This year highlights the benefit of our hedging capabilities as we successfully overcame price volatility to expand profitable results. Our sales volume of Company owned inventory for the year was steady compared to prior year at approximately 500,000 tons. We are pleased with our volume stability given the adverse impact of several factors during fiscal 2025, including downtime for equipment upgrades, challenging conditions for some of our customers and political uncertainty leading up to the presidential election. Our newest facility in Sinton, Texas reached full capacity levels during the year and contributed the highest profit margin among all our facilities,” Taylor concluded. For the quarter ended March 31, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $5.3 million ($0.76 diluted earnings per share) on sales of approximately $129.2 million compared to net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $132.2 million for the quarter ended March 31, 2024 (the “2024 quarter”). Sales volume increased f...