Friedman Industries Inc Up 19.78% To $12.05 After Earnings

Friday, June 30, 2023 - Friedman Industries Inc (FRD) reported upside earnings and revenues today.

The company reported an EPS of $0.86. The firm reported an EPS loss of $1.11 per share in the year-ago quarter. The increase in Friedman Industries Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

Revenues were upbeat at $124.2 million. That revenue figure is an increase of 65.38% from the year ago quarter.

The stock is up 19.78% to $12.05 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Friedman Industries Inc has performed a little below average during the past few months. Before the report, Friedman Industries Inc received a Long-Term Technical Rank by InvestorsObserver of 46, putting it in the bottom half of stocks. The firm set a 52-week high on March 7, 2023 at $13.38 and set a 52-week low on September 26, 2022 at $6.74.

Friedman Industries Inc is engaged in the manufacturing and processing of steel products. The company's operating segment include Coil Products and Tubular Products. It generates maximum revenue from the Coil Products segment. The company's product and services include Temper Pass, Cut-To-Length, Whole Coils, Toll Processing, Electric Resistance Welded Pipe (ERW), New Mill Secondary and Pipe Finishing Services.