Service Centers

Friedman Industries' profits jump in its fiscal Q1

Written by Ethan Bernard

August 8, 2025

Friedman Industries

Fiscal first quarter ended June 3020252024% Change
Net sales$134.8$114.617.7%
Net earnings (loss)$5.0$2.695.9%
Per diluted share$0.71$0.3791.9%
(in millions of dollars except per share)

Friedman Industries’ fiscal first-quarter earnings nearly doubled from a year ago.  

The Longview, Texas-based steel processor reported net earnings of $5 million in its fiscal Q1’26 ended June 30, up 96% from $2.6 million a year earlier. Sales increased 18% to $134.8 million in the same comparison.

“We are pleased to start our new fiscal year with a strong first quarter performance,” President and CEO Michael J. Taylor said in a statement on Thursday. “Improved margins and solid sales volume drove net earnings of $5.0 million for the quarter.”

The company’s sales volume for fiscal Q1’26 was ~141,500 short tons (st) of inventory sold and 19,000 st of toll processing. That compares with ~119,000 st of inventory sold and 24,000 st of toll processing a year earlier.  

Segment sales

Tubular product segment sales in fiscal Q1’26 were ~$10.7 million vs. ~$11.2 million a year earlier.

Meanwhile, flat-roll product segment sales for the quarter stood at ~$124.1 million, up from ~$103.4 million in the same comparison.

Outlook

For its Q2’26, Friedman expects sales volume to be slightly higher than the previous quarter.

Additionally, Friedman expects lower margins for its Q2’26 vs. the first quarter because of softening hot-rolled coil prices.

 “I see favorable long-term demand for the industry 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.

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