Tree Island Steel Sees Decline Amidst Market Pressures

Tree Island Steel (TSE:TSL) has released an update.

Tree Island Steel reported a significant decline in its third-quarter financial performance for 2024, with revenues dropping to $51.6 million and a gross profit decrease to $2.1 million, largely due to competitive pricing pressures. The company’s adjusted EBITDA plummeted to just $6 thousand, impacted by lower selling prices and reduced spreads in key market segments. Despite these challenges, Tree Island Steel remains focused on cost control and operational strategies to navigate the tough market environment.

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