Friedman Industries reports best quarter ever: Q4 net earnings $10.4M ($1.50 EPS) vs year-ago loss

FRIEDMAN INDUSTRIES INC

2022-Q1 EPS reported $1.64 revenue$65,916,439

Q4 net earnings of $10.4M ($1.50 diluted EPS) on sales $49.2M; prior-year quarter net loss $3.0M ($0.43 loss per share) on sales $33.0M.
FY2021 net earnings $11.4M ($1.63 EPS) on sales $126.1M; FY2020 net loss $5.2M ($0.75 loss per share). Second most profitable fiscal year.
Margins boosted by historic 200% steel price rise and $5.5M recognized gain on hot-rolled coil derivatives.
Announced new Sinton, Texas facility on SDI campus; $21M cost, 70,000 sq ft, world’s largest stretcher leveler line, starting April 2022.
Expects Q1 FY2022 results slightly better than Q4 FY2021; margins seen remaining strong.

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