I've been adding to FRD. Surprised it's languishing around $13 after those absolute blockbuster numbers in the late filing from Monday. One where I'd like to know what the seller is buying instead.
The FRD earnings report could be out after the close today. Or maybe on Monday (the deadline). Going to be one fantastic looking comp! Steel prices are still very strong, and the CEO bought 5,000 shares last month around $12.80. So I'm guessing the outlook will be quite bullish. Seems like worst case, the stock does nothing after the blowout report.
From Monday's filing-
For the prior year quarter ended June 30, 2020 (“2020 Quarter”), the Company reported a net loss of $858,862 on sales of $23,524,600. Results for the 2020 Quarter were negatively impacted by declining steel prices and reduced sales volume associated with the initial effects of the COVID-19 pandemic. Since the 2020 Quarter, the Company has experienced a historic rise in steel prices that resulted in significant improvement to results of operations for the current year quarter ended June 30, 2021 (“2021 Quarter”). The Company expects to report net earnings of approximately $11,000,000 for the 2021 Quarter on sales of approximately $66,000,000. A more detailed discussion of results of operations will be included in the Management’s Discussion and Analysis of Financial Condition and Results of Operations in the Company’s Form 10-Q to be filed.
