FRD

June 30, 2026 Quarter Highlights: Net earnings of $12.8 million; EBITDA of $19.3 million Sales of $240.0 million, up 78% year-over-year Record quarter sales volume, up 9% sequentially and 28% year-over-year Operating cash flow of $7.3 million for the quarter LONGVIEW, Texas, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended June 30, 2026. "We are pleased to begin fiscal 2027 with another quarter of record sales volume and significantly improved financial performance," said Michael J. Taylor, President and Chief Executive Officer. "Our first quarter results reflect the ongoing strength of our commercial strategy, disciplined execution across our operations, and the benefits of our expanded operating platform. Net earnings increased to $12.8 million on record quarterly sales volume, demonstrating our ability to translate higher throughput and improved margins into meaningful earnings growth. Most encouraging is that most of our expanded year-over-year sales volume came from organic growth at the facilities we operated prior to the Century acquisition, underscoring the success of our investments to expand capacity utilization, win new business, and deepen customer relationships." Taylor continued, "We have built a more diversified and capable business through disciplined investment and operational execution. Century Metals has integrated exceptionally well into our platform and continues to contribute meaningfully to both growth and profitability while expanding our geographic reach and customer offering. Together with the strong performance of our legacy operations, this demonstrates the strength of our operating model and the value of our long-term growth strategy. Combined with our strong balance sheet, broad processing capabilities, and disciplined commercial approach, we believe Friedman is well positioned to continue growing and delivering value for our customers and shareholders." FINANCIAL RESULTS Sales volume reached approximately 206,000 tons during the quarter ended June 30, 2026 quarter (the “2026 quarter”), an increase of approximately 45,500 tons, or 28%, compared to the quarter ended June 30, 2025 (the “2025 quarter”). Approximately 33,000 tons of the increase was attributable to same-facility volume growth at the Company's existing operations, while the remaining increase resulted from Century Metals, which was acquired in August 2025. The higher sales volume, together with improved average selling prices, contributed to net earnings of approximately $12.8 million ($1.79 diluted earnings per share) on net sales of approximately $240.0 million, compared to net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $134.8 million during the 2025 quarter. EBITDA increased to approximately $19.3 million for the 2026 quarter from approximately $8.2 million for the 2025 quarter. The table below provides our unaudited statements of operations for the quarters ended June 30, 2026 and 2025: The table below provides summarized unaudited balance sheets as of June 30, 2026 and March 31, 2026: FLAT-ROLL SEGMENT OPERATIONS Flat-roll segment sales for the 2026 quarter totaled approximately $221.8 million, compared to approximately $124.1 million for the 2025 quarter. Sales volume for the 2026 quarter consisted of approximately 175,000 tons from inventory and another 17,500 tons of toll processing, compared to approximately 132,500 tons from inventory and 19,000 tons of toll processing in the 2025 quarter. The increase in sales volume was driven by stronger customer demand, successful commercial initiatives to improve capacity utilization and the acquisition of Century. The average selling price for inventory tons sold during the 2026 quarter was approximately $1,262 per ton, compared to approximately $926 per ton during the 2025 quarter. The combination of higher sales volumes, improved average selling prices and expanded gross margins drove operating earnings to approximately $24.7 million for the 2026 quarter, compared to approximately $8.8 million for the 2025 quarter. TUBULAR SEGMENT OPERATIONS Tubular segment sales for the 2026 quarter totaled approximately $18.2 million, compared to approximately $10.7 million for the 2025 quarter. Tons sold during the 2026 quarter totaled approximately 13,500 tons, compared to approximately 9,000 tons during the 2025 quarter. The average selling price was approximately $1,341 per ton during the 2026 quarter, compared to approximately $1,206 per ton during the 2025 quarter. Increased sales volume and higher average selling prices contributed to improved operating earnings during the quarter. The tubular segment recorded earnings from operations of approximately $2.1 million for the 2026 quarter, compared to approximately $1.3 million for the 2025 quarter. OUTLOOK The Company expects second quarter sales volumes to be comparable to first quarter volumes and anticipates sequential improvement in sales margins driven by increases in average selling prices during the second quarter. "We enter the second quarter with strong operating momentum and expect sales volumes to remain comparable to our record first quarter levels, while higher average selling prices are anticipated to drive sequential margin improvement" Taylor said. " Our diversified operating platform, disciplined commercial approach, and strong balance sheet position us well to capitalize on growth opportunities and continue executing our long-term strategy while delivering value for our shareholders." ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“the Company”), headquartered in Longview, Texas, is a diversified metals processing and pipe manufacturing company operating through two segments: flat-roll products and tubular products. The flat-roll products segment includes processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas, as well as a distribution facility in Orlando, Florida. This segment processes carbon steel, stainless steel, and aluminum flat-rolled products. The Hickman, East Chicago, and Granite City facilities operate temper mills and corrective leveling cut-to-length lines; the Sinton and Decatur facilities operate stretcher leveler cut-to-length lines; and the Miami facility operates both a corrective leveling cut-to-length line and a slitting line. Additionally, the Granite City facility operates a fiber laser to further process sheet and plate into customer parts. The tubular products segment operates in Lone Star, Texas, where the Company manufactures electric resistance welded (ERW) pipe and distributes pipe through its Texas Tubular Products division. For more information, visit www.friedmanindustries.com. NON-GAAP FINANCIAL MEASURES The Company uses the non-GAAP (Generally Accepted Accounting Principles) financial measure of EBITDA in this news release. We define EBITDA as net earnings plus the following items: interest expense; provision for income tax; depreciation; and amortization. The Company presents EBITDA because it considers the measure as an important supplemental financial measure which provides additional insight for investors evaluating the Company’s financial and operational performance. The table below provides a reconciliation of net earnings to EBITDA for the periods discussed in this news release: CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality.  These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company’s Form 10-Q as filed with the SEC on August 6, 2026 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.

Shares of Friedman Industries, Incorporated FRD have gained 36.4% since the company reported results for the quarter ended March 31, 2026, significantly outperforming the S&P 500 Index’s 3.4% gain over the same period. The stock has also delivered a strong performance over the past month, advancing 70.6% compared with a 0.9% rise in the broader market benchmark. Friedman Industries reported fourth-quarter fiscal 2026 net earnings of $9.2 million, or $1.30 per diluted share, compared with $5.3 million, or $0.76 per diluted share, in the prior-year quarter. Net sales increased 48.4% year over year to $191.8 million from $129.2 million. EBITDA rose 79.2% to $15.2 million from $8.5 million, while sales volume increased 13.5% to 189,000 tons from 166,500 tons. For fiscal 2026, net earnings jumped to $19.5 million, or $2.76 per diluted share, from $6.1 million, or $0.87 per diluted share, in fiscal 2025. Annual sales increased 45.5% to $646.9 million from $444.6 million, while EBITDA climbed to $34.3 million from $13.9 million. The flat-roll segment generated fourth-quarter fiscal 2026 sales of $175.7 million, up from $117.7 million a year earlier. Sales volume included 157,500 tons from inventory sales and 19,000 tons of toll processing, compared with 139,000 tons from inventory and 16,500 tons of toll processing in the prior-year quarter. The average selling price increased 32.5% to $1,108 per ton from $836 per ton. Segment operating earnings surged to $13.9 million from $7.1 million. The tubular segment posted sales of $16.1 million, up from $11.5 million in the year-ago quarter. Tons sold increased to roughly 12,500 from 11,000, while average selling price rose 23.3% to $1,287 per ton from $1,044 per ton. Operating earnings improved to $2 million from $0.6 million. Friedman Industries Inc. price-consensus-eps-surprise-chart | Friedman Industries Inc. Quote Friedman Industries achieved record quarterly and annual sales volumes during fiscal 2026. Fourth-quarter fiscal 2026 volume increased 6% sequentially from the fiscal third quarter and 14% from the fourth quarter of fiscal 2025. Annual sales volume reached 706,000 tons, up 21.8% from 579,500 tons in fiscal 2025. About 80% of the annual volume increase came from same-facility growth, while the remainder was attributable to the Century Metals acquisition. FRD also strengthened its balance sheet scale. Total assets increased to $336.8 million as of March 31, 2026, from $226.8 million a year earlier, while stockholders’ equity rose to $151.5 million from $132.4 million. President and chief executive officer Michael J. Taylor described fiscal 2026 as a year of record sales volumes and improved profitability driven by strategic investments and operating initiatives. Taylor said that higher capacity utilization, disciplined commercial execution and strong performance across facilities contributed to the results. He also highlighted the Century Metals acquisition as a key contributor, citing expanded processing capabilities, broader geographic reach and meaningful contributions to both volume growth and profitability. Higher shipment volumes and stronger pricing were major drivers of the quarter’s performance. Fourth-quarter fiscal 2026 sales volume increased 13.5% year over year, with about half of the increase generated by existing facilities and the remainder coming from Century Metals. Rising average selling prices in both the flat-roll and tubular segments also supported revenue growth. FRD benefited from its hedging program as well, recording a gain of approximately $0.9 million from hedging activities during the quarter and $3.4 million for the full fiscal year. Additionally, a $1.4 million favorable fair-value adjustment related to contingent consideration from the Century acquisition contributed to earnings before taxes. Management expects first-quarter fiscal 2027 sales volumes to be comparable with fourth-quarter fiscal 2026 levels. FRD also anticipates sequential improvement in sales margins, supported by higher average selling prices during the quarter. Taylor said Friedman Industries enters fiscal 2027 with strong operating momentum and expects the benefits of its growth strategy and Century integration to continue supporting profitable growth. A major development during fiscal 2026 was the acquisition of Century Metals & Supplies, completed on Aug. 29, 2025. The transaction expanded Friedman Industries’ presence in the Southeastern United States and Latin American markets while broadening its product offerings to include cold-rolled, coated and stainless steels, as well as non-ferrous materials such as aluminum, copper and brass. The acquisition carried a total consideration of $51.6 million and contributed roughly $61.5 million in sales and $2.2 million in net earnings during fiscal 2026. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Friedman Industries Inc. (FRD): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

March 31, 2026 Quarter Highlights: Net earnings of $9.2 million; EBITDA of $15.2 million Sales of $191.8 million Record quarterly sales volume 6% increase in sales volume over the preceding third quarter 14% increase in sales volume over the prior year fourth quarter Fiscal Year March 31, 2026 Highlights: Net earnings of $19.5 million; EBITDA of $34.3 million Sales of $646.9 million – 46% increase over the prior fiscal year Record annual sales volume 22% increase in sales volume over the prior fiscal year LONGVIEW, Texas, June 11, 2026 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2026. “We delivered an outstanding fourth quarter and a strong finish to fiscal 2026 as our strategic investments and operating initiatives translated into meaningful financial results,” said Michael J. Taylor, President and Chief Executive Officer. “Fourth quarter net earnings increased to $9.2 million on sales of $191.8 million, while sales volume reached the highest quarterly level in Company history. Fiscal 2026 sales volume also established a new Company record, driving net earnings of $19.5 million on sales of $646.9 million. These results reflect the strength of our operating platform, disciplined commercial execution, and continued focus on profitable growth.” Taylor continued, “Our fiscal 2026 performance demonstrates the effectiveness of our long-term growth strategy. Record sales volumes, increased capacity utilization, and strong execution across our facilities drove improved operating results throughout the year. In addition, the Century Metals acquisition has proven to be an excellent strategic fit by expanding our processing capabilities, enhancing our geographic reach, and contributing meaningfully to both volume growth and profitability. Combined with our risk management capabilities and strong balance sheet, we believe we are well positioned to continue building value for our shareholders.” FINANCIAL RESULTS For the quarter ended March 31, 2026 (the “2026 quarter”), the Company recorded net earnings of approximately $9.2 million ($1.30 diluted earnings per share) on sales of approximately $191.8 million compared to net earnings of approximately $5.3 million ($0.76 diluted earnings per share) on net sales of approximately $129.2 million for the quarter ended March 31, 2025 (the “2025 quarter”). EBITDA for the 2026 quarter was approximately $15.2 million compared to approximately $8.5 million for the 2025 quarter. Sales volume increased from approximately 166,500 tons for the 2025 quarter to approximately 189,000 tons for the 2026 quarter, an increase of approximately 22,500 tons, or 14%. Approximately half of the increase was attributable to same-facility volume growth at the Company's existing operations, while the remaining increase resulted from volumes contributed by Century Metals, which was acquired during fiscal 2026. For the year ended March 31, 2026 (“fiscal 2026”), the Company recorded net earnings of approximately $19.5 million ($2.76 diluted earnings per share) on sales of approximately $646.9 million. For the year ended March 31, 2025 (“fiscal 2025”), the Company recorded net earnings of approximately $6.1 million ($0.87 diluted earnings per share) on sales of approximately $444.6 million. EBITDA for fiscal 2026 was approximately $34.3 million compared to approximately $13.9 million for fiscal 2025. Sales volume increased from approximately 579,500 tons for fiscal 2025 to approximately 706,000 tons for fiscal 2026, an increase of approximately 126,500 tons, or 22%. Approximately 100,500 tons of the increase, or 80%, was attributable to same-facility volume growth at the Company's existing operations, while the remaining approximately 26,000 tons, or 20%, resulted from volumes contributed by Century Metals, which was acquired during fiscal 2026. The table below provides our statements of operations for the quarters and fiscal years ended March 31, 2026 and 2025: The table below provides summarized balance sheets as of March 31, 2026 and 2025: FLAT-ROLL SEGMENT OPERATIONS Flat-roll segment sales for the 2026 quarter totaled approximately $175.7 million, compared to approximately $117.7 million for the 2025 quarter. Sales volume for the 2026 quarter consisted of approximately 157,500 tons from inventory and another 19,000 tons of toll processing, compared to approximately 139,000 tons from inventory and 16,500 tons of toll processing in the 2025 quarter. The increase in sales volume was driven by stronger demand among some customers, successful commercial efforts to increase capacity utilization and the acquisition of Century. The average selling price increased from approximately $836 per ton in the 2025 quarter to approximately $1,108 per ton in the 2026 quarter. The flat-roll segment recorded earnings from operations of approximately $13.9 million and $7.1 million for the 2026 quarter and 2025 quarter, respectively. TUBULAR SEGMENT OPERATIONS Tubular segment sales for the 2026 quarter totaled approximately $16.1 million, compared to approximately $11.5 million for the 2025 quarter. Tons sold increased from approximately 11,000 tons for the 2025 quarter to approximately 12,500 tons for the 2026 quarter. The average per ton selling price increased from approximately $1,044 per ton in the 2025 quarter to approximately $1,287 per ton in the 2026 quarter. The tubular segment recorded earnings from operations of approximately $2.0 million and $0.6 million for the 2026 quarter and 2025 quarter, respectively. HEDGING ACTIVITIES The Company utilizes hot-rolled coil (“HRC”) futures, options and swaps to manage price risk on unsold inventory and longer-term fixed price sales agreements. Hedging activities are typically accounted for using mark-to-market (“MTM”) accounting treatment and hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different period than the corresponding improvement or contraction in our physical margins. For the 2026 quarter, we recognized a gain on hedging activities of approximately $0.9 million. For fiscal 2026, we recognized a total hedging gain of approximately $3.4 million. OUTLOOK Management expects first quarter fiscal 2027 sales volumes to be comparable to fourth quarter fiscal 2026 volumes. Management anticipates sequential improvement in sales margins driven by increases in average selling prices during the first quarter. “Friedman enters fiscal 2027 with strong operating momentum following a year of record sales volumes and significantly improved earnings,” Taylor added. “We expect first quarter sales volumes to be similar to fourth quarter levels and anticipate sequential margin improvement driven by higher average selling prices. The successful execution of our growth strategy, including the integration of Century, has strengthened our operating platform and expanded our ability to serve customers across our markets.” Taylor concluded, “With a diversified footprint, a strong balance sheet, disciplined commercial approach, and proven risk management capabilities, we believe we are well positioned to capitalize on market opportunities and continue delivering profitable growth and long-term value for our shareholders.” ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“the Company”), headquartered in Longview, Texas, is a diversified metals processing and pipe manufacturing company operating through two segments: flat-roll products and tubular products. The flat-roll products segment includes processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas, as well as a distribution facility in Orlando, Florida. This segment processes carbon steel, stainless steel, and aluminum flat-rolled products. The Hickman, East Chicago, and Granite City facilities operate temper mills and corrective leveling cut-to-length lines; the Sinton and Decatur facilities operate stretcher leveler cut-to-length lines; and the Miami facility operates both a corrective leveling cut-to-length line and a slitting line. Additionally, the Granite City facility operates a fiber laser to further process sheet and plate into customer parts. The tubular products segment operates in Lone Star, Texas, where the Company manufactures electric resistance welded (ERW) pipe and distributes pipe through its Texas Tubular Products division. For more information, visit www.friedmanindustries.com. NON-GAAP FINANCIAL MEASURES The Company uses the non-GAAP (Generally Accepted Accounting Principles) financial measure of EBITDA in this news release. We define EBITDA as net earnings plus the following items: interest expense; provision for income tax; depreciation; and amortization. The Company presents EBITDA because it considers the measure as an important supplemental financial measure which provides additional insight for investors evaluating the Company’s financial and operational performance. The table below provides a reconciliation of net earnings to EBITDA for the periods discussed in this news release: CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality.  These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company’s Form 10-K as filed with the SEC on June 11, 2026 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.

LONGVIEW, Texas, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended December 31, 2025. December 31, 2025 Quarter Highlights: Net earnings of $3.0 million Sales of $168.0 million; up 79% year-over-year Sales volume increased 36% year-over-year “We delivered strong year-over-year growth in sales and volumes during the third fiscal quarter, driven by improved capacity utilization, disciplined commercial execution, and the contribution from our Century acquisition,” said Michael Taylor, President and Chief Executive Officer. “Average selling prices began to improve as the quarter progressed, contributing to margin improvement late in the period. In addition, our hedging activities continued to perform as anticipated by mitigating the impact of commodity price volatility on inventory values and operating results. With improving average selling prices and a strong balance sheet, we believe Friedman is well positioned to enhance margins and capitalize on both near-term opportunities and long-term industry demand,” Taylor concluded. FINANCIAL RESULTS For the quarter ended December 31, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $3.0 million ($0.43 diluted earnings per share) on sales of approximately $168.0 million compared to a net loss of approximately $1.2 million ($0.17 diluted loss per share) on sales of approximately $94.1 million for the quarter ended December 31, 2024 (the “2024 quarter”). The table below provides our unaudited statements of operations for the three- and nine-month periods ended December 31, 2025 and 2024: The table below provides summarized unaudited balance sheets as of December 31, 2025 and March 31, 2025: FLAT-ROLL SEGMENT OPERATIONS Flat-roll product segment sales for the 2025 quarter totaled approximately $153.0 million, compared to approximately $86.1 million for the 2024 quarter. Sales volume for the 2025 quarter consisted of approximately 149,500 tons from inventory and another 15,500 tons of toll processing, compared to approximately 105,000 tons from inventory and 18,000 tons of toll processing in the 2024 quarter. The increase in sales volume was driven by stronger demand among some customers, successful commercial efforts to increase capacity utilization and the acquisition of Century. Same facility year-over-year growth accounted for approximately 31,000 tons of the volume increase with Century contributing approximately 11,000 additional tons. The average selling price increased from approximately $813 per ton in the 2024 quarter to approximately $1,016 per ton in the 2025 quarter. Flat-roll operations generated earnings from operations of approximately $7.3 million and $1.3 million for the 2025 quarter and 2024 quarter, respectively. TUBULAR SEGMENT OPERATIONS Tubular product segment sales for the 2025 quarter totaled approximately $14.9 million, compared to approximately $7.9 million for the 2024 quarter. Tons sold increased from approximately 8,000 tons in the 2024 quarter to approximately 12,500 tons in the 2025 quarter. The average selling price rose from approximately $1,013 per ton in the 2024 quarter to approximately $1,201 per ton in the 2025 quarter. The tubular segment recorded earnings from operations of approximately $1.4 million for the 2025 quarter, compared to an operating loss of approximately $0.2 million in the 2024 quarter. HEDGING ACTIVITIES The Company utilizes hot-rolled coil (“HRC”) futures, options and swaps to manage price risk on unsold inventory and longer-term fixed price sales agreements. Hedging activities are typically accounted for using mark-to-market (“MTM”) accounting treatment and hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different period than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately $1.4 million. OUTLOOK Management expects fourth quarter fiscal 2026 sales volumes to remain generally consistent with third quarter levels. Management anticipates sequential improvement in sales margins driven by increases in average selling prices as we enter the fourth quarter. “Friedman remains in a strong financial position with the flexibility to respond to changing market conditions,” Taylor added. “We are encouraged by recent average selling price trends and believe our operating discipline, commercial initiatives, and risk management approach position us well to navigate the current environment. I am confident in our strategy, our team, and our ability to continue building long-term value for shareholders.” ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“the Company”), headquartered in Longview, Texas, is a diversified metals processing and pipe manufacturing company operating through two segments: flat-roll products and tubular products. The flat-roll products segment includes processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas, as well as a distribution facility in Orlando, Florida. This segment processes carbon steel, stainless steel, and aluminum flat-rolled products. The Hickman, East Chicago, and Granite City facilities operate temper mills and corrective leveling cut-to-length lines; the Sinton and Decatur facilities operate stretcher leveler cut-to-length lines; and the Miami facility operates both a corrective leveling cut-to-length line and a slitting line. The tubular products segment operates in Lone Star, Texas, where the Company manufactures electric resistance welded (ERW) pipe and distributes pipe through its Texas Tubular Products division. For more information, visit www.friedmanindustries.com. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company's Form 10-Q as filed with the SEC on February 9, 2026 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903) 758-3431.

LONGVIEW, Texas, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended September 30, 2025. September 30, 2025 Quarter Highlights: Net earnings of $2.2 million Sales of $152.4 million: up 43% year-over-year Highest sales volume in Company history: up 28% year-over-year and up 12% quarter-over-quarter Acquisition of Century Metals & Supplies on August 29, 2025 “This quarter marks a significant milestone for Friedman, as we achieved record sales volume driven by our focused efforts to improve capacity utilization across our operations,” said Michael J. Taylor, President and Chief Executive Officer. “At the same time, we successfully completed the acquisition of Century Metals & Supplies which expands our product portfolio, processing capabilities, and geographic reach. These accomplishments reflect the strength of our strategy, the dedication of our team, and the trust of our customers. With our enhanced scale and capabilities, we are better positioned than ever to deliver innovative solutions to our customers and sustainable growth to our shareholders,” Taylor concluded. For the quarter ended September 30, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $2.2 million ($0.32 diluted earnings per share) on sales of approximately $152.4 million compared to a net loss of approximately $0.7 million ($0.10 diluted loss per share) on sales of approximately $106.8 million for the quarter ended September 30, 2024 (the “2024 quarter”). Sales volume for the 2025 quarter consisted of approximately 154,500 tons of inventory sold and another 24,500 tons of toll processing customer owned material compared to 2024 quarter sales volume consisting of approximately 121,500 tons of inventory sold and another 18,000 tons of toll processing. The increase in sales volume for the 2025 quarter was primarily related to a combination of stronger demand among some customers and successful gains of market share. The 2025 quarter results include non-recurring expenses of approximately $0.9 million related to the acquisition of Century Metals & Supplies. The table below provides our unaudited statements of operations for the three- and six-month periods ended September 30, 2025 and 2024: The table below provides summarized unaudited balance sheets as of September 30, 2025 and March 31, 2025: FLAT-ROLL SEGMENT OPERATIONS Flat-roll product segment sales for the 2025 quarter totaled approximately $143.3 million compared to approximately $97.4 million for the 2024 quarter. The flat-roll segment had sales volume of approximately 147,000 tons from inventory and another 24,500 tons of toll processing for the 2025 quarter compared to approximately 112,000 tons from inventory and 18,000 tons of toll processing for the 2024 quarter. The average per ton selling price of flat-roll segment inventory increased from approximately $858 per ton in the 2024 quarter to approximately $963 per ton in the 2025 quarter. The flat-roll segment recorded operating profits of approximately $5.7 million and $2.7 million for the 2025 quarter and 2024 quarter, respectively. TUBULAR SEGMENT OPERATIONS Tubular product segment sales for the 2025 quarter totaled approximately $9.0 million compared to approximately $9.4 million for the 2024 quarter. Sales volume for the 2025 quarter was approximately 7,500 tons compared to approximately 9,000 tons for the 2024 quarter. The average per ton selling price of tubular segment inventory increased from approximately $1,030 per ton for the 2024 quarter to approximately $1,185 per ton for the 2025 quarter. The tubular segment recorded earnings from operations of approximately $0.9 million for the 2025 quarter compared to a loss from operations of approximately $0.6 million for the 2024 quarter. HEDGING ACTIVITIES We utilize hot-rolled coil (“HRC”) futures, options and swaps to manage price risk on unsold inventory and longer-term fixed price sales agreements. We typically account for our hedging activities under mark-to-market (“MTM”) accounting treatment and all hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different period than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately $0.9 million. OUTLOOK The Company anticipates that third quarter fiscal 2026 sales volume will remain consistent with second quarter levels, as the additional volume from the Century Metals & Supplies acquisition is expected to offset the anticipated holiday-related slowdown during the quarter. Margins are expected to improve modestly quarter over quarter, driven by anticipated increases in metals pricing during the third quarter. “As we look ahead, we remain focused on executing our growth strategy with discipline and agility,” Taylor said. “The integration of Century Metals & Supplies is progressing well, and we are already seeing promising synergies that will enhance our performance in the future. With a resilient business model, a strong balance sheet, and an exceptional team, Friedman is well positioned to continue delivering value for our customers, employees, and shareholders.” ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“the Company”), headquartered in Longview, Texas, is a diversified metals processing and pipe manufacturing company operating through two segments: Flat-Roll Products and Tubular Products. The Flat-Roll Products segment includes processing facilities in Hickman, Arkansas; Decatur, Alabama; Miami, Florida; East Chicago, Indiana; Granite City, Illinois; and Sinton, Texas, as well as a distribution facility in Orlando, Florida. This segment processes carbon steel, stainless steel, and aluminum flat-rolled products. The Hickman, East Chicago, and Granite City facilities operate temper mills and corrective leveling cut-to-length lines; the Sinton and Decatur facilities operate stretcher leveler cut-to-length lines; and the Miami facility operates both a corrective leveling cut-to-length line and a slitting line. The Tubular Products segment operates in Lone Star, Texas, where the Company manufactures electric resistance welded (ERW) pipe and distributes pipe through its Texas Tubular Products division. For more information, visit www.friedmanindustries.com. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company's Form 10-Q as filed with the SEC on November 10, 2025 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.

Shares of Friedman Industries, Incorporated FRD have gained 14.8% since the company reported its earnings for the quarter ended June 30, 2025, significantly outpacing the S&P 500 Index’s 0.5% growth over the same period. Over the past month, the stock rose 7.7%, again beating the S&P 500’s 2.1% increase, reflecting strong investor enthusiasm following the quarterly release. Friedman Industries reported net earnings of $5 million, or $0.71 per diluted share, for the first quarter of fiscal 2026, compared with $2.6 million, or $0.37 per diluted share, a year earlier. Net sales were $134.8 million, up 17.7% from $114.6 million in the prior-year quarter. Segmentally, the flat-roll division posted sales of $124.1 million, up 20% from $103.4 million, with operating income climbing to $8.8 million from $2.7 million, despite a slight drop in per-ton selling prices. The tubular segment saw a 4.1% sales dip to $10.7 million from $11.2 million due to lower volume, but operating results improved sharply, swinging from a $1.2 million loss to a $1.3 million profit on higher selling prices. Adjusted gross profit rose 60.3% to $29.1 million from $18.1 million a year ago, with margins expanding from 15.8% to 21.6%. Operating cash flow was a robust $15.5 million, enabling a $14.7 million reduction in debt. FRD ended the quarter with $117.5 million in working capital and a current ratio of 3.9. Debt under its $150 million asset-based lending facility (ABL Facility) stood at $33 million at quarter-end. Inventory totaled $103.5 million as of June 30, 2025, compared with $113.7 million as of March 31, 2025, reflecting a strategic reduction from the prior quarter, led by lower flat-roll raw material levels. Friedman Industries Inc. price-consensus-eps-surprise-chart | Friedman Industries Inc. Quote CEO Michael J. Taylor highlighted the combination of improved margins and solid sales volume as the main drivers of the strong fiscal first-quarter performance. Taylor noted that demand from certain customers strengthened and that strategic commercial efforts boosted facility capacity utilization. Taylor expressed optimism about the long-term demand outlook for the industry, citing Friedman Industries’ readiness to capitalize on opportunities and confidence in the company’s ability to unlock its growth potential. The quarter’s improved profitability reflected favorable market conditions for hot-rolled steel coil (HRC) compared with the prior-year period. While HRC prices softened slightly toward the end of the quarter, they remained stable enough to support stronger physical margins. This contrasted with last year’s quarter, when a declining HRC price environment compressed margins. Hedging activities also contributed positively, with FRD recording a $0.3 million gain compared with a $5.4 million gain in the prior-year quarter. For the second quarter of fiscal 2026, Friedman Industries expects sales volumes to be slightly higher than in the fiscal first quarter, continuing its push to raise utilization rates. However, given the recent softening in HRC prices, management anticipates lower margins sequentially. On May 6, 2025, Friedman Industries executed the fourth amendment to its credit agreement, extending the maturity date of its $150 million ABL Facility to Aug. 19, 2026. The facility remains secured by substantially all of the company’s assets and provides flexibility for future borrowing, with an availability of approximately $103.7 million at quarter-end. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Friedman Industries Inc. (FRD): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

LONGVIEW, Texas, Aug. 07, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter ended June 30, 2025. June 30, 2025 Quarter Highlights: Sales of $134.8 million with a 12% increase in tons sold year-over-year Net earnings of $5.0 million Operating cashflow of $15.5 million and debt reduction of $14.7 million Working capital balance of $117.5 million “We are pleased to start our new fiscal year with a strong first quarter performance,” said Michael J. Taylor, President and Chief Executive Officer. “Improved margins and solid sales volume drove net earnings of $5.0 million for the quarter,” Taylor concluded. For the quarter ended June 30, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $134.8 million compared to net earnings of approximately $2.6 million ($0.37 diluted earnings per share) on net sales of approximately $114.6 million for the quarter ended June 30, 2024 (the “2024 quarter”). Sales volume for the 2025 quarter consisted of approximately 141,500 tons of inventory sold and another 19,000 tons of toll processing customer owned material compared to the 2024 quarter sales volume consisting of approximately 119,000 tons of inventory sold and another 24,000 tons of toll processing. The increase in sales volume for the 2025 quarter was related to a combination of stronger demand among some customers and successful commercial efforts as we strive to increase the capacity utilization of our facilities. The table below provides our unaudited statements of operations for the quarters ended June 30, 2025 and 2024: The table below provides summarized unaudited balance sheets as of June 30, 2025 and March 31, 2025: FLAT-ROLL SEGMENT OPERATIONS Flat-roll product segment sales for the 2025 quarter totaled approximately $124.1 million compared to approximately $103.4 million for the 2024 quarter. The flat-roll segment had sales volume of approximately 132,500 tons from inventory and another 19,000 tons of toll processing for the 2025 quarter compared to approximately 109,000 tons from inventory and 24,000 tons of toll processing for the 2024 quarter. The average per ton selling price of flat-roll segment inventory decreased from approximately $932 per ton in the 2024 quarter to approximately $926 per ton in the 2025 quarter. The flat-roll segment recorded earnings from operations of approximately $8.8 million and $2.7 million for the 2025 quarter and 2024 quarter, respectively. TUBULAR SEGMENT OPERATIONS Tubular product segment sales for the 2025 quarter totaled approximately $10.7 million compared to approximately $11.2 million for the 2024 quarter. Sales volume declined from approximately 10,000 tons for the 2024 quarter to approximately 9,000 tons for the 2025 quarter. The average per ton selling price of tubular segment inventory increased from approximately $1,140 per ton for the 2024 quarter to approximately $1,206 per ton for the 2025 quarter. The tubular segment recorded earnings from operations of approximately $1.3 million for the 2025 quarter compared to a loss from operations of approximately $1.2 million for the 2024 quarter. HEDGING ACTIVITIES We utilize hot-rolled coil (“HRC”) futures to manage price risk on unsold inventory and longer-term fixed price sales agreements. We typically account for our hedging activities under mark-to-market (“MTM”) accounting treatment and all hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different fiscal year or fiscal quarter than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately $0.3 million. OUTLOOK For the second quarter of fiscal 2026, the Company expects sales volume to be slightly higher than the sales volume for the first fiscal quarter as the Company progresses on its efforts to increase the capacity utilization of its facilities. HRC prices softened at the end of the first quarter and the start of the second quarter. As a result, the Company expects lower margins for the second quarter of fiscal 2026 compared to the first quarter. “Friedman remains in a strong financial position and ready to capitalize on both short-term and long-term opportunities” Taylor said. “I see favorable long-term demand for the industry and believe we have a team uniquely qualified to recognize Friedman’s full growth potential.” ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“Company”), headquartered in Longview, Texas, is a manufacturer and processor of steel products with operating plants in Hickman, Arkansas; Decatur, Alabama; East Chicago, Indiana; Granite City, Illinois; Sinton, Texas and Lone Star, Texas. The Company has two reportable segments: flat-roll products and tubular products. The flat-roll product segment consists of the operations in Hickman, Decatur, East Chicago, Granite City and Sinton where the Company processes hot-rolled steel coils. The Hickman, East Chicago and Granite City facilities operate temper mills and corrective leveling cut-to-length lines. The Sinton and Decatur facilities operate stretcher leveler cut-to-length lines. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe and distributes pipe through its Texas Tubular Products division. For more information, visit www.friedmanindustries.com. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company's Form 10-Q as filed with the SEC on August 7, 2025 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.

Shares of Friedman Industries, Incorporated FRD have lost 3.2% since the company released its earnings results for the quarter ended March 31, 2025. This underperformance compares to a 0.7% dip in the S&P 500 Index over the same period. However, over the past month, Friedman Industries’ stock showed a slight gain of 0.5%, trailing the S&P 500’s 0.9% advance. For the fourth quarter of fiscal 2025, Friedman Industries reported net earnings of $5.3 million, or $0.76 per diluted share, marking a 7.8% increase from $4.9 million, or $0.71 per share, in the year-ago period. Despite a 2.3% dip in quarterly sales to $129.2 million from $132.2 million, the company achieved record quarterly sales volume of 166,500 tons, a 4.7% year-over-year rise and a 28% sequential increase compared to the third quarter. Notably, steel prices rose 35% in the quarter, aiding margin expansion. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) On a full-year basis, however, performance lagged. Fiscal 2025 net earnings plunged 64.9% to $6.1 million ($0.87 per diluted share) from $17.3 million ($2.39 per share) in fiscal 2024. Annual sales dropped 13.9% to $444.6 million from $516.3 million. The downturn reflected a challenging pricing environment in the first three quarters, partially offset by margin recovery in the final quarter. Segmentally, the flat-roll contributed $117.7 million in sales for the fiscal fourth quarter, 2.4% lower than $120.6 million in the year-ago quarter. Although tons sold from inventory rose 15.8% to 139,000 from 120,000, toll processing volumes fell 44.1% to 16,500 tons from 29,500. The average selling price dropped 15.8% from $993 per ton to $836 per ton. Operating income from the segment fell to $7.1 million from $9.6 million. Meanwhile, the tubular segment generated $11.5 million in sales, nearly flat year over year. However, volume rose 15.8% to 11,000 tons from 9,500 tons, while the average selling price declined 14.1% to $1,044 per ton from $1,216 per ton. Operating earnings in this unit dropped to $0.6 million from $0.8 million. Friedman Industries Inc. price-consensus-eps-surprise-chart | Friedman Industries Inc. Quote Friedman Industries continued to benefit from its hedging program, recording a $1.8 million gain from hot-rolled coil futures during the fourth quarter of fiscal 2025 and $7.6 million for the full fiscal year. These gains were instrumental in offsetting price volatility in the steel market. The company uses mark-to-market accounting for hedges, which can sometimes cause timing mismatches between physical sales and hedge impacts. Management noted that its hedging capabilities played a crucial role in stabilizing margins during a turbulent year for steel pricing. This approach has also supported consistent financial outcomes amid broader macroeconomic pressures. Additionally, cost control efforts were evident across various expense lines. Selling, general and administrative (SG&A) expenses dropped 37.5% to $3.8 million in the quarter from $6.1 million a year earlier. Similarly, full-year SG&A expenses declined 23.1% to $16.2 million from $21 million, contributing to earnings resilience amid declining revenue. CEO Michael J. Taylor emphasized that the company’s fourth-quarter fiscal 2025 margin recovery and record sales volume were the results of disciplined execution of its growth strategy. He highlighted a 28% sequential increase in quarterly sales volume and a 4.7% rise year over year. Taylor also credited FRD’s newest facility in Sinton, TX, for delivering the highest profit margin among all locations, as it reached full production capacity during the year. Friedman Industries’ strategic transformation continues, with enhanced processing capabilities across its facilities and a steady focus on operational efficiencies. Looking ahead, Friedman Industries expects sales volume in the first quarter of fiscal 2026 to be slightly lower than in the fourth quarter of fiscal 2025 due to planned equipment downtime. However, the company anticipates improved margins, reflecting continued benefits from pricing actions and operational streamlining. Management expressed confidence in capitalizing on both near- and long-term growth opportunities, citing favorable industry demand and a strong balance sheet. There were no reported acquisitions, divestitures or restructuring initiatives in the fourth quarter of fiscal 2025. However, management reaffirmed its commitment to disciplined capital allocation, highlighting past stock repurchases and a continued quarterly dividend policy since 1972. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Friedman Industries Inc. (FRD): Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

LONGVIEW, Texas, June 12, 2025 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NASDAQ/GS: FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2025. March 31, 2025 Quarter Highlights: Net earnings of $5.3 million Sales of $129.2 million Highest sales volume in Company history 28% increase in sales volume over the preceding third quarter 5% increase in sales volume over the prior year fourth quarter Fiscal Year March 31, 2025 Highlights: Net earnings of $6.1 million Sales of $444.6 million Working capital balance at year-end of $128.1 million “We ended fiscal 2025 with improved margins and a record quarter for sales volume as we continue to execute on our growth strategy,” said Michael J. Taylor, President and Chief Executive Officer. “Our fourth quarter sales volume increased 28% over the preceding third quarter and was 5% higher than the prior year quarter. Steel prices increased 35% during the fourth quarter enabling margin improvement after a difficult margin environment for the first three quarters.” Taylor continued, “We are pleased to report $6.1 million of net earnings for fiscal 2025 in a year that presented challenging steel price trends combined with complex economic and political factors. This year highlights the benefit of our hedging capabilities as we successfully overcame price volatility to expand profitable results. Our sales volume of Company owned inventory for the year was steady compared to prior year at approximately 500,000 tons. We are pleased with our volume stability given the adverse impact of several factors during fiscal 2025, including downtime for equipment upgrades, challenging conditions for some of our customers and political uncertainty leading up to the presidential election. Our newest facility in Sinton, Texas reached full capacity levels during the year and contributed the highest profit margin among all our facilities,” Taylor concluded. For the quarter ended March 31, 2025 (the “2025 quarter”), the Company recorded net earnings of approximately $5.3 million ($0.76 diluted earnings per share) on sales of approximately $129.2 million compared to net earnings of approximately $5.0 million ($0.71 diluted earnings per share) on net sales of approximately $132.2 million for the quarter ended March 31, 2024 (the “2024 quarter”). Sales volume increased from approximately 159,000 tons for the 2024 quarter to approximately 166,500 tons for the 2025 quarter. For the year ended March 31, 2025 (“fiscal 2025”), the Company recorded net earnings of approximately $6.1 million ($0.87 diluted earnings per share) on sales of approximately $444.6 million. For the year ended March 31, 2024 (“fiscal 2024”), the Company recorded net earnings of approximately $17.3 million ($2.39 diluted earnings per share) on sales of approximately $516.3 million. The table below provides our statements of operations for the quarters and fiscal years ended March 31, 2025 and 2024: The table below provides summarized balance sheets as of March 31, 2025 and 2024: FLAT-ROLL SEGMENT OPERATIONS Flat-roll segment sales for the 2025 quarter totaled approximately $117.7 million compared to approximately $120.6 million for the 2024 quarter. The flat-roll segment had sales volume of approximately 139,000 tons from inventory and another 16,500 tons of toll processing for the 2025 quarter compared to approximately 120,000 tons from inventory and 29,500 tons of toll processing for the 2024 quarter. The average per ton selling price of flat-roll segment inventory decreased from approximately $993 per ton in the 2024 quarter to approximately $836 per ton in the 2025 quarter. The flat-roll segment recorded earnings from operations of approximately $7.1 million and $9.6 million for the 2025 quarter and 2024 quarter, respectively. TUBULAR SEGMENT OPERATIONS Tubular segment sales for the 2025 quarter totaled approximately $11.5 million compared to approximately $11.6 million for the 2024 quarter. Tons sold increased from approximately 9,500 tons for the 2024 quarter to approximately 11,000 tons for the 2025 quarter. The average per ton selling price of tubular segment inventory decreased from approximately $1,216 per ton in the 2024 quarter to approximately $1,044 per ton in the 2025 quarter. The tubular segment recorded earnings from operations of approximately $0.6 million and $0.8 million for the 2025 quarter and 2024 quarter, respectively. HEDGING ACTIVITIES We utilize hot-rolled coil (“HRC”) futures to manage price risk on unsold inventory and longer-term fixed price sales agreements. We typically account for our hedging activities under mark-to-market (“MTM”) accounting treatment and all hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different fiscal year or fiscal quarter than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately $1.8 million. For fiscal 2025, we recognized a total hedging gain of approximately $7.6 million. OUTLOOK For the first quarter of fiscal 2026, the Company expects sales volume to be slightly lower than the sales volume for the fourth quarter of fiscal 2025 due primarily to equipment downtime encountered during the quarter. The Company expects improved margins for the first quarter of fiscal 2026 compared to the fourth quarter of fiscal 2025. “Friedman remains in a strong financial position and ready to capitalize on both short-term and long-term opportunities,” Taylor said. “I see favorable long-term demand for the industry and for our products and believe we have a team uniquely qualified to recognize Friedman’s full growth potential.” ABOUT FRIEDMAN INDUSTRIES Friedman Industries, Incorporated (“Company”), headquartered in Longview, Texas, is a manufacturer and processor of steel products with operating plants in Hickman, Arkansas; Decatur, Alabama; East Chicago, Indiana; Granite City, Illinois; Sinton, Texas and Lone Star, Texas. The Company has two reportable segments: flat-roll products and tubular products. The flat-roll product segment consists of the operations in Hickman, Decatur, East Chicago, Granite City and Sinton where the Company processes hot-rolled steel coils. The Hickman, East Chicago and Granite City facilities operate temper mills and corrective leveling cut-to-length lines. The Sinton and Decatur facilities operate stretcher leveler cut-to-length lines. The tubular product segment consists of the operations in Lone Star where the Company manufactures electric resistance welded pipe and distributes pipe through its Texas Tubular Products division. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, and such statements involve risk and uncertainty. Forward-looking statements include those preceded by, followed by or including the words “will,” “expect,” “intended,” “anticipated,” “believe,” “project,” “forecast,” “propose,” “plan,” “estimate,” “enable,” and similar expressions, including, for example, statements about our business strategy, our industry, our future profitability, growth in the industry sectors we serve, our expectations, beliefs, plans, strategies, objectives, prospects and assumptions, future production capacity and product quality. These forward-looking statements may include, but are not limited to, everything under the header “Outlook” above, including sales volumes, margins, hedging results, and potential price increases, expectations as to financial results during the Company’s upcoming fiscal quarters, future changes in the Company’s financial condition or results of operations, future production capacity, product quality and proposed expansion plans. Forward-looking statements may be made by management orally or in writing including, but not limited to, this news release. Forward-looking statements are not guarantees of future performance. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although forward-looking statements reflect our current beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Actual results and trends in the future may differ materially depending on a variety of factors including, but not limited to, changes in the demand for and prices of the Company’s products, changes in government policy regarding steel, changes in the demand for steel and steel products in general and the Company’s success in executing its internal operating plans, changes in and availability of raw materials, our ability to satisfy our take or pay obligations under certain supply agreements, unplanned shutdowns of our production facilities due to equipment failures or other issues, increased competition from alternative materials and risks concerning innovation, new technologies, products and increasing customer requirements. Accordingly, undue reliance should not be placed on our forward-looking statements. Such risks and uncertainty are also addressed in our Management’s Discussion and Analysis of Financial Condition and Results of Operations and other sections of the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including the Company’s Annual Report on Form 10-K and its other Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent law requires. For further information, please refer to the Company’s Form 10-K as filed with the SEC on June 12, 2025 or contact Alex LaRue, Chief Financial Officer – Secretary and Treasurer, at (903)758-3431.