VANCOUVER, British Columbia, Oct. 23, 2025 (GLOBE NEWSWIRE) -- Tree Island Steel Ltd. ("Tree Island" or the "Company") (TSX: TSL) is pleased to announce that it will report its third quarter 2025 financial results for the period ended September 30, 2025, after market hours on Thursday, November 13, 2025. About Tree Island Steel Tree Island Steel, headquartered in Richmond, British Columbia, since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse ran ...

Core Viewpoint - Tree Island Steel reported a significant decline in revenues and profits for the first half of 2025, primarily due to reduced sales volumes in the U.S. following the implementation of tariffs on wire products and a strategic withdrawal from unprofitable products [2][3][4]. Financial Performance - For the three months ended June 30, 2025, revenues decreased by $11.7 million to $42.3 million from $54.0 million in 2024, with gross profit dropping to $3.9 million from $4.6 million [2][5]. - For the six months ended June 30, 2025, revenues fell by $18.0 million to $92.5 million from $110.5 million in 2024, with gross profit declining to $7.8 million from $9.4 million [3][5]. - Adjusted EBITDA for the three months ended June 30, 2025, was $2.2 million, down from $2.9 million year-over-year, while for the six months, it decreased to $4.3 million from $6.0 million [2][6]. Operational Insights - The company is facing challenges due to rapidly changing tariff environments in the U.S. and Canada, which are impacting both customer behavior and supply chain decisions [4]. - The company is focused on improving profitability by adjusting sales and sourcing strategies, controlling costs, and adapting production and staffing levels [4]. 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 [7].

Core Viewpoint - Tree Island Steel Ltd. is set to report its second quarter 2025 financial results on August 7, 2025, after market hours [1] Company Overview - Tree Island Steel, established in 1964 and headquartered in Richmond, British Columbia, operates facilities in Canada and the United States [2] - The company produces a variety of wire products for industrial, residential construction, commercial construction, and agricultural applications [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]

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]