Friedman Industries Q3 fiscal 2024: EPS $0.16, sales $116M, flat-roll segment profit surges to $8.7M

FRIEDMAN INDUSTRIES INC

2024-Q3 EPS reported $1.69 revenue$384,019,000

Net earnings $1.2M ($0.16 diluted EPS) on sales $116M vs $1.4M ($0.19) on $111.9M a year ago.
Flat-roll segment operating profit $8.7M vs $3.3M; tubular segment operating loss $0.1M vs profit $0.7M.
Sales volume up 11% YoY; average HRC selling price $960/ton vs $949/ton.
Hedging loss of $4.1M ($3.0M realized, $1.1M unrealized) partially offset physical margin improvement.
Management expects strong Q4 with solid margins as HRC price appreciation flows through inventory.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FRIEDMAN INDUSTRIES INC reported the third fiscal quarter ended December 31, 2023 results: revenue approximately $116.0 million, net income approximately $1.2 million ($0.16 diluted earnings per share), EPS $0.16 diluted earnings per share.

Period: the third fiscal quarter ended December 31, 2023
Revenue: approximately $116.0 million
Net income: approximately $1.2 million ($0.16 diluted earnings per share)
EPS: $0.16 diluted earnings per share
Result: reported results

Exact text from the filing

American: FRD) today announced its results of operations for the third fiscal quarter ended December 31, 2023. December 31, 2023 Quarter Highlights: ● Sales of approximately $116.0 million ● Earnings from operations of approximately $6.2 million ● Net earnings of approximately $1.2 million ● 11% increase in sales volume over prior year quarter volume ● Working

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Source: SEC EDGAR

accession 0001437749-24-004193

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