07:26 AM EST, 02/12/2025 (MT Newswires) -- TerraVest Industries ( TRRVF ) on Wednesday reported fiscal first-quarter net income that beat analyst estimates.

The company posted earnings of $30,431, or $1.42 per diluted share, for the three-month period ended Dec. 31, 2024, beating the FactSet analyst consensus forecast of $1.09 per share and an increase from $19,303, or $0.94 per diluted share, reported in the same quarter the previous year.

TerraVest attributed the earnings increase to positive contributions of Advance Engineered Products and Highland Tank Holdings, a foreign exchange gain on balance receivable from subsidiaries, and lower financing costs.

Sales increased to $234,585 from $228,090 while adjusted EBITDA slipped to $48,900 from $49,056.

TerraVest said recent tariff announcements have created uncertainty in North America's manufacturing sector, but noted that its portfolio businesses are well-positioned for their domestic markets, limiting the impacts of any future tariffs.

TerraVest's board declared a quarterly dividend of $0.175 per share, payable on April 10 to shareholders of record as of March 31.