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An update from Tree Island Steel ( (TSE:TSL) ) is now available.
Tree Island Steel reported a decline in its financial performance for the year 2024, with revenues decreasing by $32.6 million to $207.0 million and gross profit dropping to $11.8 million. The company attributes this downturn to competitive pricing pressures and the impact of tariffs affecting U.S. exports. As a result, the Board of Directors has decided to reduce the quarterly dividend by 50% to $0.015 per share, reflecting the economic uncertainty and the company’s efforts to manage costs and navigate the challenging trade environment.
More about Tree Island Steel
Tree Island Steel is a company operating in the steel industry, primarily focusing on the production of steel wire and related products. The company serves various market segments, including residential and industrial sectors.
YTD Price Performance: -8.71%
Average Trading Volume: 13,628
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$73.63M
For a thorough assessment of TSL stock, go to TipRanks’ Stock Analysis page.