Service Centers
November 22, 2021
Friedman Reports Record Quarter, Progress on Sinton Facility
Written by Tim Triplett
Friedman Industries reported the most profitable quarter in the company’s history with earnings for its fiscal second quarter ended Sept. 30 of $13.2 million on sales of $92.6 million. That’s a big turnaround from the same quarter last year when the company lost $250,000 on sales of $24.9 million due to the pandemic.
Results for the 2021 quarter were a reflection of the strong margins from the historic rise in steel prices this year, as well as the ramp-up of the company’s new stretcher leveler cut-to-length line at its Decatur, Ala., facility.
