06:33 AM EDT, 03/14/2025 (MT Newswires) -- Tree Island Steel ( TWIRF ) late on Thursday reported a wider fourth-quarter net loss and slashed its dividend by 50%, citing economic uncertainty.

The net loss increased to $3.3 million, or $0.13 per share, from a loss of $1.9 million, or $0.07 per share.

Revenue decreased to $47.9 million from $50.6 million. Adjusted EBITDA was a loss of $1.6 million, down from positive $860 million.

The company's board cut the quarterly dividend by 50% to $0.015 per share, payable April 15 to holders of record at the close of business on March 31.

"Generally slower demand from our customers and pricing pressures from competitors continued to impact average selling prices. The inclusion of Canada in the updated US Section 232 Steel and Aluminum tariffs and any other potential tariffs affecting our U.S. exports also add further uncertainty," said Tree Island COO Nancy Davies.