Friedman Industries, Incorporated Announces Second Quarter Results [Yahoo! Finance]
Friedman Industries Inc. (FRD)
NASDAQ:AMEX Investor Relations:
friedmanindustries.com/clients.html
Company Research
Source: Yahoo! Finance
September 30, 2024 Quarter Highlights: Sales of approximately $106.8 million Working capital balance at quarter-end of approximately $111.7 million Operating cash flow of approximately $10.8 million during the quarter Debt 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 during the quarter, our inventory price risk decreased, and our hedging activities were reduced accordingly. Despite these circumstances, our team maintained sales volume from the preceding quarter
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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