Friedman's Q1 Confirms Our Views, Stock Not Attractive Yet [Seeking Alpha]
Friedman Industries Inc. (FRD)
NASDAQ:AMEX Investor Relations:
friedmanindustries.com/clients.html
Company Research
Source: Seeking Alpha
Summary 1Q25 results were in line with expectations, with flat to lower processing volumes and operating income damage, offset by hedging gains. Production volumes remain critical for long-term profitability, but 1Q25 production was disappointing at 133 thousand tons, down from 143 thousand tons in 1Q24. Despite lower hot-rolled coil prices, hedging gains led to a positive pre-tax profit of $3.2 million, although much lower than last year. Valuation remains unattractive with an EV/NOPAT of 10x; I maintain a Hold rating, awaiting potential dips for better opportunities. Monty Rakusen Friedman Industries ( NYSE: FRD ) 1Q25 results were in line with our expectations of flat to lower processing. The operating income damage from lower hot rolled coil prices was offset by hedging. The quarter confirms our read of prices not affecting long-term profits too much, with more importance given to volumes, which have not grown. However, as of June 2024, Friedman had not hedged its b
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FRD
News
- Friedman Stock Declines Post Q2 Earnings on Lower Sales, Demand [Yahoo! Finance]Yahoo! Finance
- Friedman Industries, Incorporated Announces Second Quarter Results [Yahoo! Finance]Yahoo! Finance
- Friedman Industries, Incorporated Announces Second Quarter ResultsGlobeNewswire
- Friedman Industries, Incorporated Announces Cash DividendGlobeNewswire
FRD
Sec Filings
- 11/20/24 - Form 4
- 11/13/24 - Form SC
- 11/12/24 - Form 8-K
- FRD's page on the SEC website