Friedman Industries(US:FRD)2025-11-10 21:54Financial Performance - Net earnings for the quarter ended September 30, 2025, were approximately $2.2 million, compared to a net loss of approximately $0.7 million for the same quarter in 2024[4]. - Sales for the 2025 quarter were approximately $152.4 million, representing a 43% increase year-over-year from approximately $106.8 million in 2024[5]. - The company achieved the highest sales volume in its history, with a 28% increase year-over-year and a 12% increase quarter-over-quarter, totaling approximately 154,500 tons of inventory sold[5]. Segment Performance - Flat-roll segment sales for the 2025 quarter totaled approximately $143.3 million, up from approximately $97.4 million in the 2024 quarter, with an operating profit of approximately $5.7 million[8]. - Tubular segment sales for the 2025 quarter were approximately $9.0 million, down from approximately $9.4 million in the 2024 quarter, but with an operating profit of approximately $0.9 million compared to a loss in the previous year[9]. Acquisitions and Integration - The acquisition of Century Metals & Supplies was completed on August 29, 2025, enhancing the company's product portfolio and geographic reach[5]. - The integration of Century Metals & Supplies is progressing well, with promising synergies expected to enhance future performance[12]. Asset and Future Outlook - Total assets as of September 30, 2025, were approximately $311.3 million, up from $226.8 million as of March 31, 2025[7]. - The company recognized a gain on hedging activities of approximately $0.9 million for the 2025 quarter[10]. - The company anticipates that third quarter fiscal 2026 sales volume will remain consistent with second quarter levels, with expected improvements in margins due to anticipated increases in metals pricing[11].