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Friedman Industries Q4 Earnings Decline Y/Y, Margins Down

Friedman Industries, Incorporated (AMEX:FRD) delivered earnings per share (EPS) of 71 cents in the fourth quarter of fiscal 2024, down 17.4% year over year. Full-year EPS was $2.39, down 17.9% compared with the fiscal 2023 period. Revenues in Detail Friedman Industries registered revenues of $132.2 million in the fiscal fourth quarter, up 6.5% year over year. Robust performances by both segments drove the topline. Sales volumes were 159,000 tons in the fiscal fourth quarter, up 8.9% from the year-ago quarter's 146,000 tons. Full-year revenues were $516.3 million, indicating a 5.7% decline from the comparable fiscal 2023 period. Segment Details Friedman Industries' operations consist of two business segments — Flat-roll and Tubular. For the quarter under review, Flat-roll reported revenues of $120.6 million, up 6.9% from the year-ago quarter. During the quarter, the segment had a sales volume of approximately 120,000 tons from inventory and another 29,500 tons of toll processing, down 3.2% and up 110.7%, respectively, year over year. The ...