LONGVIEW, Texas, Aug. 07, 2025 (GLOBE NEWSWIRE) — Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended June 30, 2025.
June 30, 2025 Quarter Highlights:
- Sales of $134.8 million with a 12% increase in tons sold year-over-year
- Net earnings of $5.0 million
- Operating cashflow of $15.5 million and debt reduction of $14.7 million
- Working capital balance of $117.5 million
“We are pleased to start our new fiscal year with a strong first quarter performance,” said Michael J. Taylor, President and Chief Executive Officer. “Improved margins and solid sales volume drove net earnings of $5.0 million for the quarter,” Taylor concluded.
For the quarter ended June 30, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $134.8 million compared to net earnings of approximately $2.6 million ($0.37 diluted earnings per share) on net sales of approximately $114.6 million for the quarter ended June 30, 2024 (the “2024 quarter”). Sales volume for the 2025 quarter consisted of approximately 141,500 tons of inventory sold and another 19,000 tons of toll processing customer owned material compared to the 2024 quarter sales volume consisting of approximately 119,000 tons of inventory sold and another 24,000 tons of toll processing. The increase in sales volume for the 2025 quarter was related to a combination of stronger demand among some customers and successful commercial efforts as we strive to increase the capacity utilization of our facilities.
The table below provides our unaudited statements of operations for the quarters ended June 30, 2025 and 2024:
| SUMMARY OF OPERATIONS (unaudited) | |||||||
| (In thousands, except for per share data) | |||||||
| Three Months Ended June 30, |
|||||||
| 2025 | 2024 | ||||||
| Net Sales | $ | 134,777 | $ | 114,551 | |||
| Costs and expenses: | |||||||
| Costs of materials sold (excludes items shown separately below) | 105,704 | 96,414 | |||||
| Processing and warehousing expense | 9,328 | 8,178 | |||||
| Delivery expense | 6,400 | 6,051 | |||||
| Selling, general and administrative expense | 5,455 | 4,511 | |||||
| Depreciation and amortization | 847 | 795 | |||||
| Earnings (loss) from operations | 7,043 | (1,398 | ) | ||||