Friedman Industries Q2 sales jump 88% to record high

Friedman Industries

Yesterday 21:42

Overview
US metals processor's Q2 sales rose 88% yr/yr to record $286.8 mln
Q2 net earnings reached record $15.6 mln, up sharply from prior year
Growth driven by higher sales volumes in flat-roll and tubular segments

Outlook
Company expects Q3 sales volume in line with seasonal trends
Company anticipates sequential improvement in Q3 sales margins due to higher average selling prices
Company says inventory is well positioned to meet customer demand in Q3

Result Drivers
FLAT-ROLL SEGMENT GROWTH - Co said sales volume at legacy flat-roll facilities rose 15% yr/yr, outpacing industry peers despite constrained supply
TUBULAR SEGMENT IMPROVEMENTS - Co said process and capital improvements drove 82% yr/yr sales volume growth in tubular segment
CENTURY METALS ACQUISITION - Co said full-quarter contribution from Century Metals acquisition boosted sales and earnings

Company press release: ID:nGNX7X0NFM

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
 
$286.81 mln
 
Q2 Net Income
 
$15.61 mln
 
Q2 Income from Operations
 
$36.57 mln
 
Q2 Pretax Profit
 
$20.64 mln
 

Reuters Recommended Reads
Nov 5 - ArcelorMittal beats core profit view as EU steel import curbs kick in
Nov 5 - Nippon Steel raises FY26 profit forecast by 52% on robust US Steel earnings
Nov 4 - Steelmaker Ternium bets on Mexico lifting outlook as US tariff relief remains uncertain

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)