Friedman Industries, Inc. (FRD) reported a significant decline in both revenue and earnings for the first quarter of fiscal 2025. The company experienced a 16.6% drop in revenue, driven by lower sales volume and selling prices across its Flat-Roll and Tubular segments. While the Tubular segment saw a positive increase in sales volume, the overall impact of declining prices and reduced sales led to a 64.4% decrease in earnings per share compared to the previous year. Despite these challenges, the company anticipates potential improvement in margins towards the end of the second quarter due to rising hot-rolled coil (HRC) prices.