11:54 AM EDT, 03/14/2025 (MT Newswires) -- (Updates shares.)

Tree Island Steel ( TWIRF ) late on Thursday reported a wider fourth-quarter loss and slashed its dividend by 50%, citing economic uncertainty.

The company's loss widened to $3.3 million, or $0.13 per share, in the quarter, compared with a loss of $1.9 million, or $0.07, in the year-prior quarter.

Revenue fell 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 shareholders of record 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 chief operating officer Nancy Davies.

Tree Island shares were last seen down $0.37 to $2.50 on the Toronto Stock Exchange.

Price: 2.50, Change: -0.37, Percent Change: -12.89