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How Friedman Industries (FRD) makes money

Friedman Industries (FRD) made $287M of revenue in the second quarter fiscal 2027 (Q2 FY27), +88% from a year earlier. Of every dollar of revenue, 13¢ was left as operating profit, 5¢ was left as net earnings.

Drawing the Sankey…

Friedman Industries: revenue by line, Q3 FY25 to Q1 FY27Friedman Industries: revenue by line, Q3 FY25 to Q1 FY27Flat-rollTubularFlat-roll: $222M latest$222MTubular: $18.2M latest$18.2MQ3 FY25Q1 FY26Q2 FY26Q3 FY26Q1 FY27
The mix barely moved between Q3 FY25 and Q1 FY27.
Friedman Industries revenue by quarterFriedman Industries revenue by quarter$94.1MQ3 FY25$129MQ4 FY25$135MQ1 FY26$152MQ2 FY26$168MQ3 FY26$240MQ1 FY27$287MQ2 FY27
Friedman Industries: where each dollar of revenue goesFriedman Industries: where each dollar of revenue goesOperating profit13¢Income tax2¢Net earnings5¢Operating cash flow2¢Free cash flow1¢

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$287M100.0%
Operating profit$36.6M12.8%
Income tax$5.0M1.8%
Net earnings$15.6M5.4%
Operating cash flow$6.1M2.1%
Free cash flow$2.4M0.8%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$287M+88%
Q1 FY27$240M+78%
Q3 FY26$168M+79%
Q2 FY26$152M+43%
Q1 FY26$135M+18%
Q4 FY25$129M-2%
Q3 FY25$94.1M-19%

From Friedman Industries' 10-Q filed Nov 5, 2026 (on EDGAR).

Questions

How does Friedman Industries make money?

Friedman Industries (FRD) made $287M of revenue in the second quarter fiscal 2027 (Q2 FY27), +88% from a year earlier. Of every dollar of revenue, 13¢ was left as operating profit, 5¢ was left as net earnings.

What is Friedman Industries' profit margin?

Net earnings were $15.6M, 5.4% of revenue, in the second quarter fiscal 2027; the operating margin was 12.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.