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Friedman's profits tick higher on record quarterly sales volumes

June 13, 2025

Friedman Industries

Fourth quarter ended March 31	2025	2024	% Change
Net sales	$129.2	$132.2	-2.3%
Net earnings (loss)	$5.3	$5.0	7.8%
Per diluted share	$0.76	$0.71	7.0%
Full year ended March 31
Net sales	$444.6	$516.3	-13.9%
Net earnings (loss)	$6.1	$ 17.3	-64.9%
Per diluted share	$0.87	$2.39	-63.6%

(in millions of dollars except per share)

Friedman Industries’ earnings increased in its fiscal fourth quarter, though sales slipped.

The Longview, Texas-based steel processor reported net earnings of $5.3 million in its fiscal Q4’25 ended March 31, up 8% from $5.0 million a year earlier. However, sales dropped 2% to $129.2 million.

“We ended fiscal 2025 with improved margins and a record quarter for sales volume as we continue to execute on our growth strategy,” Michael J. Taylor, president and CEO, said in a statement on Thursday.

Sales volumes of ~166,500 tons in the 2025 quarter rose 5% from ~159,000 tons in the year-ago quarter.

Taylor cited improved margins, “record” sales volume, and higher steel prices as helping Friedman’s bottom line.

He added that the company’s newest facility in Sinton, Texas, reached full capacity levels during the fiscal year and “contributed the highest profit margin among all our facilities.”

Segment performance

Friedman’s flat-roll segment logged sales of ~$117.7 million in the quarter, down 2% from $120.6 million a year earlier.

At the same time, the tubular segment’s sales totaled $11.5 million compared to $11.6 million in the previous year’s quarter.

Outlook

For fiscal Q1’26, Friedman expects sales volumes to be slightly lower than Q4’25, primarily due to equipment downtime during the quarter.

Additionally, the company expects improved margins for fiscal Q1’26 vs. the prior quarter.

“I see favorable long-term demand for the industry and for our products and believe we have a team uniquely qualified to recognize Friedman’s full growth potential,” Taylor said.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.