Filing Flows › Friedman Industries (FRD) › Q1 FY26
Friedman Industries (FRD) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Aug 7, 2025
Friedman Industries (FRD) reported revenue of $135M for the first quarter fiscal 2026 (Q1 FY26), +18% from a year earlier and +4% from the quarter before. Operating margin was 5.2%, net earnings $5.0M (3.7% of revenue).
Friedman Industries, Q1 FY26: revenue $135M (+18% year over year), operating margin 5.2%, net earnings $5.0M, operating cash flow $15.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $135M | +4% | +18% |
| Operating profit | $7.0M | +20% | — |
| Net earnings | $5.0M | -6% | +96% |
| Operating cash flow | $15.5M | — | — |
| Free cash flow | $13.7M | — | — |
What changed
Revenue was $134.8M in Q1 FY26, up 18% year over year and up 4% from the previous quarter. Flat-roll was the largest line at 92% of revenue. Flat-roll added $20.7M year over year (up 20%), 102% of the total change. Tubular declined 4%.
Operating profit was $7.0M, a 5.2% margin (up 6.4 points year over year). Total costs grew 10% against revenue growth of 18%. The fastest-growing cost line was SG&A (+21%). Net earnings were $5.0M, up 96% year over year. The effective tax rate was 24.3%.
Operating cash flow was $15.5M, 308% of net earnings. Non-cash charges added back $847K of depreciation and amortization. Working capital and other items added $9.6M. Capital expenditures of $1.8M left free cash flow of $13.7M.
Questions
What was Friedman Industries' revenue in the first quarter fiscal 2026?
Friedman Industries (FRD) reported revenue of $135M for the first quarter fiscal 2026 (Q1 FY26), +18% from a year earlier and +4% from the quarter before.
Was Friedman Industries profitable in the first quarter fiscal 2026?
Operating profit was $7.0M (5.2% of revenue) and net earnings $5.0M.