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Friedman Industries Sales Volume Hits Record, Earnings Triple
Friedman Industries posted record annual sales volume of 706,000 tons and net earnings of $19.5 million, more than tripling last year's profit. The Century Metals acquisition and same-facility growth drove the gains.
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Friedman Industries reported fiscal 2026 results that showed record sales volumes and a sharp earnings improvement, driven by same-facility growth and the Century Metals acquisition.
For the quarter ended March 31, net earnings rose to $9.2 million, or $1.30 a share, from $5.3 million, or $0.76, a year earlier. Sales hit $191.8 million, up from $129.2 million. EBITDA came in at $15.2 million versus $8.5 million.
The full fiscal year told a similar story. Net earnings reached $19.5 million, or $2.76 a share, compared with $6.1 million, or $0.87, in fiscal 2025. Sales climbed to $646.9 million from $444.6 million. EBITDA more than doubled to $34.3 million from $13.9 million.
Sales volume for the year rose 22% to 706,000 tons, a company record. About 80% of that increase came from existing facilities, with the rest from Century Metals, which Friedman acquired during the year. The fourth quarter alone saw volume hit 189,000 tons, also a record, up 14% from the prior-year period.
Two segments, two stories
The flat-roll segment drove most of the revenue. Fourth-quarter sales there totaled $175.7 million, up from $117.7 million, on volume of 157,500 tons from inventory plus 19,000 tons of toll processing. The average selling price rose to $1,108 per ton from $836. Segment earnings from operations hit $13.9 million, nearly double the $7.1 million a year earlier.