Filing Flows › Friedman Industries (FRD) › Q3 FY26
Friedman Industries (FRD) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 9, 2026
Friedman Industries (FRD) reported revenue of $168M for the third quarter fiscal 2026 (Q3 FY26), +79% from a year earlier and +10% from the quarter before. Operating margin was 2.3%, net earnings $3.0M (1.8% of revenue).
Friedman Industries, Q3 FY26: revenue $168M (+79% year over year), operating margin 2.3%, net earnings $3.0M, operating cash flow −$4.7M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $168M | +10% | +79% |
| Operating profit | $3.9M | +35% | — |
| Net earnings | $3.0M | +36% | — |
| Operating cash flow | −$4.7M | -1186% | -276% |
What changed
Revenue was $168.0M in Q3 FY26, up 79% year over year and up 10% from the previous quarter. Flat-roll was the largest line at 91% of revenue. Flat-roll added $66.9M year over year (up 78%), 91% of the total change.
Operating profit was $3.9M, a 2.3% margin (up 3.6 points year over year). Total costs grew 72% against revenue growth of 79%. The fastest-growing cost line was SG&A (+84%). Net earnings were $3.0M. The effective tax rate was 24.0%.
Operating cash flow was −$4.7M. Non-cash charges added back $1.0M of depreciation and amortization. Working capital and other items used $8.8M. Capital expenditures of $1.6M exceeded it, leaving free cash flow of −$6.3M.
Questions
What was Friedman Industries' revenue in the third quarter fiscal 2026?
Friedman Industries (FRD) reported revenue of $168M for the third quarter fiscal 2026 (Q3 FY26), +79% from a year earlier and +10% from the quarter before.
Was Friedman Industries profitable in the third quarter fiscal 2026?
Operating profit was $3.9M (2.3% of revenue) and net earnings $3.0M.