Friedman Industries Q1 net earnings $2.6M ($0.37 EPS), down from $7.7M ($1.04 EPS) YoY

FRIEDMAN INDUSTRIES INC

2025-Q1 EPS reported $0.37 revenue$114,551,000

Net sales of $114.6M down from $137.3M YoY; net earnings of $2.6M vs $7.7M.
Flat-roll segment operating profit fell to $2.7M from $11.8M YoY; tubular segment swung to loss of $1.2M.
Hedging gains of $5.4M helped offset physical margin compression from declining HRC prices.
Sales volume declined to 119K tons inventory sold plus 24K tons toll processing (vs 129K+24K prior year).
Outlook: expects Q2 sales volume similar to Q1; challenging margins but rising HRC prices may improve later.

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