Tree Island Steel reports decrease in revenues and profits for first quarter 2025.

From GlobeNewswire: 2025-05-09 17:00:00

Tree Island Steel reported financial results for the first quarter of 2025, showing a decrease in revenues to $50.2 million from $56.6 million in the same period in 2024 due to lower sales volumes to U.S. customers and production pullbacks. Gross profit for the quarter decreased to $3.9 million from $4.8 million in 2024. Adjusted EBITDA was $2.0 million, down from $3.1 million in 2024 due to lower gross profit. The company reduced headcount by 9% compared to the previous year to manage operational costs.

Tree Island Steel, based in British Columbia, produces wire products for various applications. The company is exploring new markets to leverage operational capabilities on both sides of the border. Forward-looking statements in the press release indicate potential risks and uncertainties facing the company, including economic conditions, competition, and supply chain disruptions. The Board of Directors and Audit Committee reviewed the information in the press release, cautioning against placing undue reliance on forward-looking statements. Investors are advised to consider various factors that could impact actual results.



Read more at GlobeNewswire: Tree Island Steel Announces First Quarter 2025 Results