Friedman's Q2 2024 Is An Unusual Peek Into Its True Profitability, And It's Not Great
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Friedman Industries' Q2 2024 results show unprofitability due to flat HRC prices and a decline in production volumes. The company processed 160 thousand tons, with an 8% decline in 1H24 volumes compared to 1H25, leading to a small operational loss and indicating non-GAAP profitability.
November 29, 2024 | 5:45 pm
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Friedman Industries' Q2 2024 results show unprofitability due to flat HRC prices and a decline in production volumes. The company processed 160 thousand tons, with an 8% decline in 1H24 volumes compared to 1H25, leading to a small operational loss and indicating non-GAAP profitability.
The article highlights Friedman's unprofitability in Q2 2024 due to flat HRC prices and declining production volumes, leading to operational losses. This is likely to negatively impact the stock price in the short term as investors react to the company's financial struggles.
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