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Friedman Industries reported net earnings of $17.3 million in its fiscal year 2024, the second-most profitable year in the company's history. Net sales for the year totaled $516.3 million, a 5.6 percent decline from 2023.

In the fourth quarter, Friedman's net earnings totaled $5 million and net sales equaled $132.2 million.

“We ended fiscal 2024 with a strong fourth quarter that made it our second-most profitable fiscal year in Friedman’s history,” said Michael J. Taylor, president and CEO. “This result is evidence of the quality of our assets and our strategy, as well as the hard work and dedication of our team members, who make and deliver our products to customers every day.”

Friedman's sales volumes increased by 19 percent in the just-completed year, driving by stronger output from the company's new Sinton, Texas, facility. "We expect further growth from our Sinton facility in fiscal 2025 as we approach full production capacity."

Additional growth is expected through the completion of an upgrade to the processing line at the company's Decatur, Ala., facility.