FRIEDMAN INDUSTRIES INC
For the period ended Nov 10, 2025. Filed Nov 10, 2025.
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Nov 10, 2025 · Filed Nov 10, 2025
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EX-99.1 · HEDGING ACTIVITIES
HEDGING ACTIVITIES
We utilize hot-rolled coil (“HRC”) futures, options and swaps to manage price risk on unsold inventory and longer-term fixed price sales agreements. We typically account for our hedging activities under mark-to-market (“MTM”) accounting treatment and all hedging decisions are intended to protect the value of our inventory and produce more consistent financial results over price cycles. With MTM accounting treatment it is possible that hedging related gains or losses might be recognized in a different period than the corresponding improvement or contraction in our physical margins. For the 2025 quarter, we recognized a gain on hedging activities of approximately $0.9 million.
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