Friedman Industries, Incorporated reported strong financial results for the first fiscal quarter ended June 30, 2025, with net earnings surging approximately 95% to $5.0 million. Diluted earnings per share reached $0.71, a significant increase from $2.6 million, or $0.37 diluted earnings per share, in the prior-year quarter. Net sales for the quarter increased to $134.8 million from $114.6 million.
The substantial growth was driven by improved margins and solid sales volume, which increased to 141,500 tons of inventory sold and 19,000 tons of toll processing. The flat-roll segment was a key contributor, with sales totaling $124.1 million and operating earnings rising to $8.8 million from $2.7 million in the prior year. The tubular segment also saw a turnaround, reporting $1.3 million in operating earnings compared to a $1.2 million loss.
For the second quarter of fiscal 2026, the company anticipates sales volume to be slightly higher than the first fiscal quarter, reflecting ongoing efforts to increase capacity utilization. However, management expects lower margins sequentially due to softening hot-rolled coil (HRC) prices at the end of the first quarter and the beginning of the second quarter.
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