Company Announcements
February 10, 2026
Friedman posts strong quarter on higher volumes, pricing momentum
Written by Laura Miller
Friedman Industries Inc.
| Third quarter ended Dec. 31 | 2025 | 2024 | Change |
|---|---|---|---|
| Net sales | $168.0 | $94.1 | 78.5% |
| Net earnings (loss) | $3.0 | $(1.2) | 350% |
| Per diluted share | $0.43 | $(0.17) | 353% |
| Nine months ended Dec. 31 | |||
| Net sales | $455.1 | $315.4 | 44.3% |
| Net earnings (loss) | $10.3 | $0.7 | 1,371% |
| Per diluted share | $1.46 | $0.11 | 1,227% |
Friedman Industries delivered a strong fiscal third quarter, posting sharp gains in sales, shipments, and margins across both its flat-rolled and tubular segments.
For the quarter ended Dec. 31, the flat-rolled metals processor and pipe manufacturer, based in Longview, Texas, posted net income of $3.0 million on sales of $168.0 million. That was much improved from a loss of $1.2 million and sales of $94.1 million in the same quarter a year earlier.
“We delivered strong year-over-year growth in sales and volumes during the third fiscal quarter, driven by improved capacity utilization, disciplined commercial execution, and the contribution from our Century acquisition,” said President and CEO Michael Taylor.
Friedman acquired Miami-based Century Metals and Supplies in September. The buy helped Friedman achieve record sales and volumes in fiscal Q2, which ended Sept. 30, and it again exceeded those records in fiscal Q3.
Taylor noted average selling prices improved as the quarter progressed. He said the company’s hedging strategy continued to blunt commodity-price volatility.
“With improving average selling prices and a strong balance sheet, we believe Friedman is well positioned to enhance margins and capitalize on both near-term opportunities and long-term industry demand,” he said.
Flat-roll segment
Flat-roll segment sales climbed to $153.0 million, up from $86.1 million a year earlier. Total sales volume reached 165,000 tons – 149,500 tons from inventory and 15,500 tons of toll processing – compared with 123,000 tons in the prior year quarter.
Same-facility growth accounted for roughly 31,000 tons of the increase, while Century added another 11,000 tons. The average selling price rose to $1,016 per ton, up from $813/ton. This helped drive operating income to $7.3 million, up from $1.3 million a year earlier.
Tubular segment
Tubular sales nearly doubled to $14.9 million, with tons sold rising from 8,000 to 12,500. Average selling prices increased to $1,201/ton, up from $1,013/ton. The segment posted $1.4 million in operating income, reversing a $0.2 million loss in the prior-year period.
Outlook
Friedman expects fourth-quarter fiscal 2026 volumes to remain broadly in line with Q3 levels. Rising average selling prices should support sequential margin improvement.
“We are encouraged by recent average selling price trends and believe our operating discipline, commercial initiatives, and risk management approach position us well to navigate the current environment,” Taylor said.
