Friedman Industries, Incorporated Announces Second Quarter Results
Key Highlights
- ➤Net earnings $15.6 million, up from $2.2 million year-over-year
- ➤Record sales $286.8 million, up 88% year-over-year
- ➤Quarterly sales volume 219,500 tons, up 23% year-over-year
- ➤EBITDA $23.0 million, versus $4.7 million year-over-year
- ➤Third-quarter volume expected seasonally consistent; sales margins anticipated to improve
Expert Statements
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“The second quarter was the strongest in Friedman’s history, with records across: sales volume, revenue and net earnings.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Net earnings increased to $15.6 million on sales of $286.8 million, reflecting strong execution and continued growth across our operations.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Sales volume at our legacy flat-roll facilities increased 15% over the prior-year quarter, an achievement that is particularly significant in a constrained supply environment and reflects growth that has outpaced our industry peers.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“We are also particularly encouraged by the progress in our tubular segment, where ongoing process and capital improvements have strengthened production capabilities and supported expanded sales, resulting in an 82% increase in sales volume compared to the prior-year quarter.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“The contribution from Century Metals provided an additional benefit to our results, with a full quarter of operations compared to one month after acquisition closing in the prior-year quarter.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Our team successfully maintained the inventory needed to meet customer demand in a very constrained supply environment, allowing us to capitalize on higher metal prices through significantly stronger physical margins.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Our approach to managing metal price risk supports our ability to maintain the inventory our customers need through changing market conditions.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“The same increase in metal prices that contributed to stronger physical margins also resulted in a $14.6 million charge related to hedging activities during the quarter.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“This unrealized charge reflects the substantial increase in metal prices and the corresponding increase in the market value of inventory we expect to sell in future periods, providing an opportunity to realize the benefit of those higher values through future physical sales.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Our disciplined approach to inventory and risk management, combined with continued investments in our operations, positions us to serve our customers, pursue growth opportunities and navigate fluctuations in our markets.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“We enter the third quarter from a position of strength.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Following record second-quarter sales volume, we anticipate normal third-quarter seasonality.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“At the same time, we expect higher selling prices to support continued improvement in physical margins.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“Our inventory remains well positioned to meet customer demand, supported by our disciplined approach to managing metal price risk.”
Michael J. Taylor, President and Chief Executive Officer of Friedman Industries
“With an expanded operating platform, continued operational improvements, commercial discipline and a strong balance sheet, Friedman is well positioned to build on our momentum and deliver long-term value for our customers, employees and shareholders.”
September 30, 2026 Quarter Highlights: * Record net earnings of $15.6 million; EBITDA of $23.0 million * Record sales of $286.8 million, up 88% year-over-year * Record quarterly sales volume, up 7% sequentially and 23% year-over-year Six Months Ended September 30, 2026 Highlights: * Record net earnings of $28.4 million; EBITDA of $42.3 million * Record sales of $526.8 million, up 83% year-over-year * Record sales volume, up 25% year-over-year LONGVIEW, Texas, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended September 30, 2026.
“The second quarter was the strongest in Friedman’s history, with records across: sales volume, revenue and net earnings,” said Michael J. Taylor, President and Chief Executive Officer. “Net earnings increased to $15.6 million on sales of $286.8 million, reflecting strong execution and continued growth across our operations. Sales volume at our legacy flat-roll facilities increased 15% over the prior-year quarter, an achievement that is particularly significant in a constrained supply environment and reflects growth that has outpaced our industry peers. We are also particularly encouraged by the progress in our tubular segment, where ongoing process and capital improvements have strengthened production capabilities and supported expanded sales, resulting in an 82% increase in sales volume compared to the prior-year quarter. The contribution from Century Metals provided an additional benefit to our results, with a full quarter of operations compared to one month after acquisition closing in the prior-year quarter.”
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