Overview

* Friedman Industries ( FRD ) Q1 sales rise 18% yr/yr to $134.8 mln

* Net earnings for Q1 increase to $5.0 mln, driven by improved margins

* Company reduces debt by $14.7 mln, reflecting strong cash flow

Outlook

* Company expects Q2 sales volume to be slightly higher than Q1

* Friedman anticipates lower margins in Q2 due to softened HRC prices

Result Drivers

* SALES VOLUME INCREASE - Driven by stronger demand and successful commercial efforts, resulting in a 12% increase in tons sold yr/yr

* MARGIN IMPROVEMENT - Improved margins contributed to net earnings of $5.0 mln for the qtr

* SEGMENT PERFORMANCE - Flat-roll segment sales rose significantly, while tubular segment turned a previous loss into a profit due to higher selling prices

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Sales $134.78

mln

Q1 Net $5.03

Income mln

Q1 $6.64

Pretax mln

Profit

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)