Canada's Tree Island Steel Q1 revenue falls on lower U.S. sales

Tree Island Steel

15/05/2026 23:11

Overview

Canada wire products maker's Q1 revenue declined yr/yr due to lower U.S. sales volumes

Gross profit and adjusted EBITDA decreased from the prior year period

Company saw steady growth in Canadian sales, aided by domestic trade measures

Outlook

Company says it is adjusting production and workforce in response to changing demand

Tree Island says it is pursuing opportunities in new and existing markets

Result Drivers

LOWER U.S. SALES - Co said revenue decline was primarily driven by lower U.S. sales volumes due to expanded U.S. tariffs and strategic withdrawal from unprofitable product lines

CANADIAN SALES GROWTH - Steady growth in Canadian sales, supported by domestic trade measures, partially offset revenue decline

LOWER VOLUMES IMPACT MARGINS - Gross profit decreased despite higher average selling prices, as lower sales and production volumes weighed on results

Company press release: ID:nGNXY8Ngr

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$43.05 mln
Q1 EPS
-C$0.05
Q1 Net Income
-C$1.17 mln
Q1 Adjusted EBITDA
C$884,000
Q1 Gross Profit
C$2.47 mln
Q1 Operating Income
-C$270,000
Q1 Pretax Profit
-C$1.17 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)