Tree Island Steel Announces Full Year 2025 Results

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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.

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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.

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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.

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“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.

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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.

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About Tree Island Steel

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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 range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco   reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products. The Company markets these products under the Tree Island®, Halsteel®, K-Lath®, TI Wire®, ToughStrand® and ToughPanel® brand names.

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Forward-Looking Statements

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This press release includes forward-looking information with respect to Tree Island including its business, operations and strategies, its dividend policy and the declaration and payment of dividends thereunder as well as financial performance and conditions. The use of forward-looking words such as, “may,” “will,” “expect” or similar variations generally identify such statements. Any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Although management believes that expectations reflected in forward-looking statements are reasonable, such statements involve risks and uncertainties including risks and uncertainties discussed under the heading “Risks Relating to Our Business” in Tree Island’s most recent annual information form and management discussion and analysis.