Tree Island Steel Announces Second Quarter 2026 Results

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeGlobeNewswireThis section is The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Tree Island Steel Announces Second Quarter 2026 ResultsAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.VANCOUVER, British Columbia, Aug. 13, 2026 (GLOBE NEWSWIRE) — Tree Island Steel (“Tree Island” or the “Company”) (TSX: TSL) announced today its financial results for the three and six months ended June 30, 2026.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountFor the three-months ended June 30, 2026, revenues, net of freight and distribution costs, increased by $3.5 million, or 8.3% to $45.8 million from $42.3 million in the same period of 2025. The increase was primarily driven by continued growth in Canadian sales, primarily in the agricultural and industrial segments, and reflecting the Company’s strategic focus on expanding its Canadian market share.For the six months ended June 30, 2026, revenues, net of freight and distribution costs, decreased by $6.1 million, or 6.6% to $86.4 million from $92.5 million in 2025. The decline primarily reflected lower U.S. sales volumes resulting from the impact of tariffs and the Company’s ongoing strategic withdrawal from unprofitable product lines in 2025.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe Company achieved higher average selling prices during the quarter to recover higher raw material costs. Gross profit for the quarter was $3.5 million, compared to $3.8 million in the prior-year period, while year-to-date gross profit was $6.0 million compared to $7.8 million in the first six months of 2025. The decline primarily reflected lower U.S. sales volumes and reduced production volumes. Adjusted EBITDA for the quarter was $1.8 million compared to $2.3 million in the prior-year period, while year-to-date adjusted EBITDA was $2.7 million compared to $4.4 million in the first six months of 2025, primarily due to lower operating income and the impact of foreign exchange translation. “We continue to pursue opportunities in new and existing markets, while implementing price increases where possible to recover higher material costs,” said Nancy Davies, Chief Operating Officer of Tree Island Steel. RESULTS FROM OPERATIONS Three Months Ended Six Months Ended($’000 unless otherwise stated)June 30, June 30, 2026 2025 2026 2025 Revenue48,551 44,494 91,596 97,795 Freight and distribution costs(2,720) (2,156) (5,187) (5,266)Subtotal45,831 42,338 86,409 92,529 Cost of sales(40,901) (37,095) (77,643) (81,952)Depreciation(1,407) (1,382) (2,769) (2,776)Gross profit3,523 3,861 5,997 7,801 Selling, general and administrative expenses(2,827) (3,142) (5,571) (6,436)Operating income696 719 426 1,365 Foreign exchange gain (loss)(306) 252 (514) 262 Other expenses(182) (263) (454) (443)Interest income40 24 46 51 Financing expenses(448) (540) (876) (1,053)Income (loss) before income taxes(200) 192 (1,372) 182 Income tax– – – – Net Income (loss)(200) 192 (1,372) 182 Net Income (loss) per share(0.01) 0.01 (0.05) 0.01 June 30, December 31,Financial position as at: 2026 2025 Total assets 168,176 154,880 Total non-current financial liabilities 28,454 28,073 Adjusted EBITDA Three Months Ended Six Months Ended($’000 unless otherwise stated)June 30, June 30, 2026 2025 2026 2025 Operating income696 719 426 1,365 Add back depreciation1,407 1,382 2,769 2,776 Foreign exchange gain (loss)(306) 252 (514) 262 Adjusted EBITDA11,798 2,353 2,681 4,403 1 See definition on Adjusted EBITDA in Section 2 NON-IFRS MEASURES of the June 30, 2026, MD&A. This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Tree Island Steel, headquartered in Richmond, British Columbia since 1964, through its operating facilities in Canada and the United States, produces wire products for a diverse range of industrial, residential construction, commercial construction and agricultural applications. Its products include galvanized wire, bright wire; a broad array of fasteners, including packaged, collated and bulk nails; stucco reinforcing products; concrete reinforcing mesh; fencing and other fabricated wire products. The Company markets these products under the Tree Island®, Halsteel®, K-Lath®, TI Wire®, ToughStrand® and ToughPanel® brand names.Forward-Looking StatementsThis press release includes forward-looking information with respect to Tree Island including its business, operations and strategies, its dividend policy and the declaration and payment of dividends thereunder as well as financial performance and conditions. The use of forward-looking words such as, “may,” “will,” “expect” or similar variations generally identify such statements. Any statements that are contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Although management believes that expectations reflected in forward-looking statements are reasonable, such statements involve risks and uncertainties including risks and uncertainties discussed under the heading “Risks Relating to Our Business” in Tree Island’s most recent annual information form and management discussion and analysis.The forward-looking statements contained herein reflect management’s current beliefs and are based upon certain assumptions that management believes to be reasonable based on the information currently available to management. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements. In evaluating these forward-looking statements, shareholders should specifically consider various factors including the risks outlined herein and under the heading “Risk Relating to Our Business” in the recent annual information form, which may cause actual results to differ materially from any forward-looking statement. Such risks and uncertainties include, but are not limited to: general economic, market and business conditions, public health epidemics, the economy and potentially its supply chain, the cyclical nature of our business and demand for our products, the impact of any tax reassessments or appeals therefrom, financial condition of our customers, competition, deterioration in Tree Island Steel’s liquidity, leverage, and restrictive covenants, disruption in the supply of raw materials, volatility in the costs of raw materials, dependence on the construction industry, transportation costs and availability, foreign exchange fluctuations, labour relations, trade actions, dependence on key personnel and skilled workers, reliance on key customers, environmental matters, physical impacts of extreme weather conditions, intellectual property risks, energy costs, un-insured loss, credit risk, operating risk, product liability risks, management of growth, success of acquisition and integration strategies, and other risks and uncertainties set forth in our publicly filed materials.This press release has been reviewed by the Company’s Board of Directors and its Audit Committee and contains information that is current as of the date of this press release, unless otherwise noted. Events occurring after that date could render the information contained herein inaccurate or misleading in a material respect. Readers are cautioned not to place undue reliance on this forward-looking information and the management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise except as required by applicable securities laws.For further information contact:Ali Mahdavi, Investor RelationsTree Island Steel(416) 962-3300e-mail: amahdavi@treeisland.comWebsite: www.treeisland.comNotice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.