Friedman Q1 FY24 net earnings $7.7M, sales $137.3M, volume up 23%

FRIEDMAN INDUSTRIES INC

2024-Q1 EPS reported $1.04 revenue$137,298,000

Diluted EPS $1.04 vs $1.55 YoY; net earnings $7.7M vs $11.2M.
Flat-roll segment sales $125.2M, avg price $1,038/ton (down 32% YoY), volume 120K tons (up 28%).
Tubular segment sales $12.1M, avg price $1,358/ton, volume 9K tons.
Outlook: Q2 volumes similar to Q1; lower physical margins expected due to HRC price declines, partially offset by hedging gains.
Working capital $113.1M at quarter-end; Sinton facility (opened Oct 2022) driving volume growth.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FRIEDMAN INDUSTRIES INC reported financial results for first fiscal quarter ended June 30, 2023.

Period: first fiscal quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 14, 2023, Friedman Industries, Incorporated (“Friedman” or the “Company”) issued a press release announcing its financial results for its first fiscal quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001437749-23-023715

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