VANCOUVER, British Columbia, March 12, 2026 (GLOBE NEWSWIRE) -- Tree Island Steel (“Tree Island” or the “Company”) (TSX: TSL) today reported its financial results for the year ended December 31, 2025. For the three-month period ended December 31, 2025, revenues, net of freight and distribution, were $32.4 million, compared with $44.8 million in the same period last year. The decline primarily refl...
VANCOUVER, British Columbia, March 12, 2026 (GLOBE NEWSWIRE) -- Tree Island Steel (“Tree Island” or the “Company”) (TSX: TSL) today reported its financial results for the year ended December 31, 2025. For the three-month period ended December 31, 2025, revenues, net of freight and distribution, were $32.4 million, compared with $44.8 million in the same period last year. The decline primarily reflected lower U.S. sales volumes due to the ongoing impact of expanded U.S. tariffs on wire and wire products, as well as the Company’s strategic withdrawal from certain unprofitable product lines. These factors were partially offset by continued growth in Canadian sales, consistent with the Company’s increased focus on domestic markets. For the full year, revenues totaled $161.8 million, down from $207.0 million in 2024. Despite higher average selling prices, gross profit declined to $9.5 million from $11.8 million, and adjusted EBITDA decreased to $3.0 million from $4.3 million, reflecting lower sales and production volumes. During the year, the Company implemented cost-management initiatives, including a 27% workforce reduction, to mitigate the impact of reduced volumes. “We continue to focus on strengthening our position in the Canadian market as we navigate the challenges posed by U.S. tariffs,” said Nancy Davies, Chief Operating Officer of Tree Island Steel. The Company paid quarterly dividends of $0.015 per share during 2025 and has elected to suspend dividend payments in 2026 in light of ongoing economic uncertainty. RESULTS FROM OPERATIONS Three Months Ended Year Ended ($'000 unless otherwise stated) December 31, December 31, 2025 2024* 2025 2024* Revenue 34,312 47,856 170,830 221,111 Freight and distribution costs (1,866 ) (3,018 ) (9,017 ) (14,120 ) Subtotal 32,446 44,838 161,813 206,991 Cost of sales (31,246 ) (43,134 ) (146,845 ) (189,733 ) Depreciation (1,366 ) (1,406 ) (5,518 ) (5,473 ) Gross profit (loss) (166 ) 298 9,450 11,785 Selling, general and administra...