Core Points - Tree Island Steel Ltd. announced that all matters at its 2025 Annual General Meeting of Shareholders received requisite shareholder approval [1] - The company elected all six director nominees proposed by management, with a total of 17,117,784 shares represented, accounting for approximately 65.85% of outstanding shares [2] Board of Directors - The voting results for the director elections showed high approval rates for all nominees, with Sam Fleiser receiving 99.86% votes in favor, while other nominees received between 96.18% and 96.32% [2] - The detailed voting results for each nominee are as follows: - Amar S. Doman: 16,397,252 votes for (96.18%), 651,793 votes against (3.82%) [2] - Peter Bull: 16,421,214 votes for (96.32%), 627,831 votes against (3.68%) [2] - Sam Fleiser: 17,025,005 votes for (99.86%), 24,040 votes against (0.14%) [2] - Joe Downes: 16,421,214 votes for (96.32%), 627,831 votes against (3.68%) [2] Company Overview - Tree Island Steel, headquartered in Richmond, British Columbia, has been operational since 1964 and produces a variety of wire products for industrial, residential, commercial, and agricultural applications [3] - The company's product offerings include galvanized wire, bright wire, fasteners, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products, marketed under various brand names [3]

Core Viewpoint - Tree Island Steel reported a decline in revenues and profits for the first quarter of 2025, primarily due to reduced sales volumes and operational adjustments in response to market conditions [2][3]. Financial Performance - Revenues for the three months ended March 31, 2025, decreased by $6.4 million to $50.2 million from $56.6 million in the same period in 2024 [2]. - Gross profit fell to $3.9 million from $4.8 million year-over-year, attributed to lower sales and production volumes despite higher average selling prices [2]. - Adjusted EBITDA decreased to $2.0 million from $3.1 million in the same period in 2024 [2][5]. - Net income for the first quarter was $2, down from $625 in the same period in 2024, with net income per share remaining at $0.00 compared to $0.02 previously [4]. Operational Adjustments - The company reduced its workforce by 9% to manage operational costs in light of changing demand [2]. - The COO indicated that the company is rebalancing production and exploring new market opportunities to leverage operational capabilities [3]. Market Conditions - The decline in sales was primarily driven by lower demand from U.S. customers in the residential segment and the company's decision to withdraw from unprofitable product lines [2]. - A pullback in demand was noted due to U.S. tariffs on certain steel products made in Canada, impacting sales volumes [2]. Company Overview - Tree Island Steel, established in 1964, produces a variety of wire products for industrial, residential, commercial, and agricultural applications, with operations in Canada and the U.S. [6].

Company Overview - Tree Island Steel Ltd. is headquartered in Richmond, British Columbia, and has been operational since 1964 [2] - The company produces wire products for various applications including industrial, residential construction, commercial construction, and agricultural uses [2] - Product offerings include galvanized wire, bright wire, fasteners (packaged, collated, and bulk nails), stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products [2] - The company markets its products under several brand names including Tree Island®, Halsteel®, K-Lath®, TI Wire®, Tough Strand®, and ToughPanel™ [2] Financial Reporting - Tree Island Steel will report its first quarter 2025 financial results for the period ended March 31, 2025, after market hours on May 9, 2025 [1]