Friedman Industries, Incorporated Announces Second Quarter Results
Friedman Industries Inc. (FRD)
NASDAQ:AMEX Investor Relations:
friedmanindustries.com/clients.html
Company Research
Source: GlobeNewswire
LONGVIEW, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE American: FRD) announced today its results of operations for the second fiscal quarter ended September 30, 2024. September 30, 2024 Quarter Highlights: Sales of approximately $106.8 millionWorking capital balance at quarter-end of approximately $111.7 millionOperating cash flow of approximately $10.8 million during the quarterDebt reduced 22% during the quarter “We experienced challenging conditions during the second fiscal quarter driven by industry specific and macroeconomic factors,” said Michael J. Taylor, President and Chief Executive Officer. “Our margins were affected by industry-wide pricing pressure. Hot-rolled coil (“HRC”) prices stabilized during the quarter, after declining since the start of 2024, but a combination of soft demand from some customers and political uncertainty held off upward price momentum and volume. With steel prices reaching a floor and relative stability dur
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FRD
Sec Filings
- 11/25/24 - Form 4
- 11/22/24 - Form 4
- 11/20/24 - Form 4
- FRD's page on the SEC website