11:41 AM EST, 02/12/2025 (MT Newswires) -- (Updates shares.)

TerraVest Industries ( TRRVF ) shares were last seen down 10% even after the company on Wednesday a reported fiscal first-quarter profit that beat analyst estimates.

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

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.

TerraVest shares were last seen down $13.43 to $121.51 on the Toronto Stock Exchange.

Price: 121.51, Change: -13.43, Percent Change: -9.95