Friedman Industries

Friedman Industries, Inc. engages in the provision of manufacture and trade of steel products. It operates through the Coil and Tubular segments. The Coil segment produces and markets hot-rolled steel and coils. The Tubular segment focuses on the operation of two electric resistance welded pipe mills with a combined outside diameter. The company was founded by Mendel Friedman in 1965 and is headquartered in Longview, TX.

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LONGVIEW, Texas, March 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the “Board”) of Friedman Industries, Incorporated, (NYSE-American: FRD) a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on March 20, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company.

FRIEDMAN INDUSTRIES, INCORPORATED INCREASES CASH DIVIDEND

LONGVIEW, Texas, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) today announced its results of operations for the third fiscal quarter ended December 31, 2023.

Friedman Industries, Incorporated Announces Third Quarter Results

LONGVIEW, Texas, Dec. 18, 2023 (GLOBE NEWSWIRE) -- On December 13, 2023, Friedman Industries, Incorporated (the “Company”) repurchased 400,041 shares of the Company's common stock from Metal One Corporation for an aggregate repurchase price of approximately $5.1 million. After the repurchase, the Company had 6,971,824 shares of common stock outstanding.

FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES SHARE REPURCHASE AND AUTHORIZATION OF ADDITIONAL SHARE REPURCHASE PROGRAM

LONGVIEW, Texas, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the “Board”) of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 13, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 16, 2024 to shareholders of record at the close of business on January 19, 2024. This dividend marks the Company's 208th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly traded in 1972.

FRIEDMAN INDUSTRIES, INCORPORATED ANNOUNCES CASH DIVIDEND

Friedman Industries has strong financial ratios and is expected to experience significant growth in the next few years. The company has about 50% upside to tangible book value, which is growing rapidly. The steel industry is likely to see strength in the coming years, providing a favorable market for Friedman Industries.

Friedman Industries: 50% Upside To Growing TBV

LONGVIEW, Texas, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) announced today its results of operations for the quarter ended September 30, 2023.

Friedman Industries, Incorporated Announces Second Quarter Results and Provides Update on Strategic Growth Initiatives

LONGVIEW, Texas, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) announced today its results of operations for the quarter ended June 30, 2023.

Friedman Industries, Incorporated Announces First Quarter Results and Provides Near-Term Outlook

Longview, TX, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE – American; trading symbol: FRD)

FRIEDMAN INDUSTRIES, INCORPORATED LAUNCHES NEW COMPANY WEBSITE

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Investors often jump into expensive stocks that have strong momentum and grand underlying businesses. However, these stocks can underperform the broader market or even return losses if your entry point is too high.

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LONGVIEW, Texas, June 29, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2023.

Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2023 Results and Provides Near-Term Outlook

LONGVIEW, Texas, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) announced today its results of operations for the fiscal third quarter.

Friedman Industries, Incorporated Announces Third Quarter Results and Provides Near-Term Outlook

The company booked a $4 million comprehensive income in Q2 FY23 thanks to a prudent hedging strategy and the strong performance of its tubular division. With HRC steel prices falling, inventories and receivables declined significantly, which pushed the CFO for the quarter to $76 million.

Friedman Industries: Strong Financials Despite Low HRC Steel Prices

LONGVIEW, Texas, Dec. 02, 2022 (GLOBE NEWSWIRE) -- The Company announced today its results of operations for the fiscal second quarter.

Friedman Industries, Incorporated Announces Second Quarter Results and Provides Near-term Outlook

FRIEDMAN INDUSTRIES, INCORPORATED PROVIDES SINTON FACILITY UPDATE AND UPDATE ON FORM 10-Q FILING

The Company announced today its results of operations for the fiscal first quarter. The Company announced today its results of operations for the fiscal first quarter.

Friedman Industries, Incorporated Announces First Quarter Results, Provides Sinton Update and Near-term Outlook

LONGVIEW, Texas, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE – American; trading symbol: FRD) On August 10, 2022, the Company filed a Form NT 10-Q with the SEC providing notice of inability to timely file its Form 10-Q for the quarter ended June 30, 2022 (“Form 10-Q”). Because the Company was not able to file its Form 10-Q within the grace period provided by the Form NT 10-Q, the Company has received a Filing Delinquency Notification from NYSE American LLC notifying the Company that it has six months to cure the filing delinquency. If the Company fails to file the Form 10-Q during this initial cure period, NYSE American may, in its sole discretion, provide an additional six-month cure period. NYSE American will add a “.LF” indicator on the Company's ticker until this deficiency is cured. The Company is still working on accounting matters related to its acquisition that occurred during the quarter, is still preparing analyses and providing documentation requested by its auditors in connection with their review of the quarter and is still preparing the Form 10-Q. The Company will continue to work diligently to file its Form 10-Q as soon as possible.

FRIEDMAN INDUSTRIES, INCORPORATED PROVIDES UPDATE ON FORM 10-Q FILING

LONGVIEW, Texas, July 22, 2022 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE – American; trading symbol: FRD)

Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2022 Results and Provides Post Plateplus Transaction Update

The company recently bought two coil processing facilities from Plateplus for $63.8 million in cash and 516,041 shares, and this should more than double its production. The deal also includes steel inventory and customer relationships from two other facilities, which have a combined production of 113,000 tons.

Friedman Industries: Plateplus Deal Is Transformational And I'm Going Long

LONGVIEW, Texas, June 29, 2022 (GLOBE NEWSWIRE) -- The Company's measurement date to determine its filer status with the Securities and Exchange Commission (“SEC”) is September 30th of each year based on the Company's fiscal year end date of March 31st. On September 30, 2021, the Company's public float was approximately $76 million which surpassed the SEC's accelerated filer threshold of $75 million and the Company's revenues for the most recent fiscal year exceeded $100 million. As a result, the Company's filer status change from a non-accelerated filer to an accelerated filer effective with the March 31, 2022 Form 10-K (“Form 10-K”).

FRIEDMAN INDUSTRIES, INCORPORATED PROVIDES UPDATE ON FORM 10-K FILING

LONGVIEW, Texas, May 02, 2022 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (“Friedman”) (NYSE American: FRD), a Texas-based company engaged in steel processing and distribution as well as pipe manufacturing through its division Texas Tubular Products, announced today that it has acquired two high-quality, strategically located facilities from Plateplus, Inc. (“Plateplus”), positioning Friedman as a leading North American steel service center with an expanded geographic presence, scale and processing capabilities. In addition to the facilities acquired, Friedman also purchased the steel inventory and customer relationships at two additional Plateplus locations. The parties executed an agreement related to the transaction on April 26, 2022 and closed the transaction effective at the end of business on April 30, 2022.

Friedman Industries, Incorporated Expands With Major Acquisition of Plateplus, Inc. Operations

FRD is a downstream steel producer, meaning a company that buys steel coil from big mills and processes it according to final customer requirements.

Friedman Industries Trades Above Fair Value But The Situation May Change

The company closed H1 FY22 with a net profit of $24.5 million thanks to high steel prices. The last time the company had unusually high earnings, it distributed a special dividend. I expect the same to happen in the near future.

Friedman Industries Looks Cheap Based On Fundamentals

LONGVIEW, Texas, Nov. 19, 2021 (GLOBE NEWSWIRE) -- The Company announced today its results of operations for the fiscal second quarter. For the quarter ended September 30, 2021 (the “2021 quarter”), the Company recorded net earnings of $13,177,614 ($1.91 diluted earnings per share) on sales of $92,570,895 compared to a net loss of $250,005 ($0.04 diluted loss per share) on sales of $24,861,680 for the quarter ended September 30, 2020 (the “2020 quarter”). The 2021 quarter results make it the most profitable quarter in Company history. Results for the 2021 quarter were positively impacted by strong margins primarily associated with a historic rise in steel prices. The 2021 quarter was also positively impacted by the continued ramp up of the Decatur, Alabama facility's new stretcher leveler cut-to-length line.

Friedman Industries, Incorporated Announces Second Quarter Results and Sinton, Texas Facility Update

LONGVIEW, Texas, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The Company announced today its results of operations for the fiscal first quarter. For the quarter ended June 30, 2021 (the “2021 quarter”), the Company recorded net earnings of $11,311,797 ($1.64 diluted earnings per share) on net sales of $65,916,439 compared to a net loss of $858,862 ($0.12 diluted loss per share) on net sales of $23,524,600 for the quarter ended June 30, 2020 (the “2020 quarter”). The 2021 quarter results make it the most profitable quarter in Company history. Results for the 2021 quarter were positively impacted by strong margins primarily associated with a historic rise in steel prices. The 2021 quarter was also positively impacted by the Decatur, Alabama facility starting to operate its new stretcher leveler cut-to-length line.

Friedman Industries, Incorporated Announces First Quarter Results

Reports most profitable quarter and second most profitable fiscal year in Company history Reports most profitable quarter and second most profitable fiscal year in Company history

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