Friedman Industries Q1 sales jump 78% on record volumes

Friedman Industries

06/08/2026 21:48

Overview
U.S. metals processor's fiscal Q1 sales rose 78% yr/yr on record volumes and higher prices
Net earnings more than doubled to $12.8 mln from prior year quarter
Company expects Q2 sales volumes to remain strong with higher average selling prices

Outlook
Company expects Q2 sales volumes to be comparable to Q1 levels
Friedman Industries anticipates sequential improvement in Q2 sales margins from higher average selling prices
Company says strong operating momentum and diversified platform position it to capitalize on growth opportunities

Result Drivers
ORGANIC VOLUME GROWTH - Most of the year-over-year sales volume increase came from organic growth at legacy facilities, per CEO Michael J. Taylor
CENTURY METALS ACQUISITION - The Century Metals acquisition contributed to both sales growth and profitability by expanding geographic reach and customer offering
HIGHER SELLING PRICES - Improved average selling prices in both flat-roll and tubular segments supported higher revenue and margins

Company press release: ID:nGNX9s7Y8k

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
 
$239.97 mln
 
Q1 Net Income
 
$12.78 mln
 
Q1 Income from Operations
 
$21.03 mln
 
Q1 Pretax Profit
 
$16.98 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)