(RTTNews) - Friedman Industries, Incorporated (FRD) Monday reported third-quarter net earnings of $3.04 million or $0.43 per share, compared to a net loss of $1.15 million or $0.17 per share last year.
Third-quarter net sales were $167.97 million, up from $94.07 million last 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."
Management expects fourth-quarter fiscal 2026 sales volumes to remain generally consistent with those of the third quarter. Management anticipates sequential improvement in sales margins driven by increases in average selling prices as the company enters the fourth quarter.
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