Latest news with #steelstructures
Bloomberg
3 days ago
- Business
- Bloomberg
Tariffs Hit Canadian Firm That Made World Trade Center's Spire
ADF Group Inc., a Canadian maker of steel structures, reported lower earnings and slowed its production partly because of the uncertainty caused by US tariffs. The company's first quarter revenue plunged 48% to C$55.5 million ($40.6 million), while its profit margin grew narrower. Earnings per share dropped by 36%.
CTV News
3 days ago
- Business
- CTV News
ADF Group reports Q1 profit, revenue falls from year ago amid tariff uncertainty
TERREBONNE — ADF Group Inc., a maker of steel superstructures, reported a first-quarter profit of $8.7 million as its revenue plunged compared with a year earlier due to the uncertainty related to U.S. tariffs. Revenue for the quarter totalled $55.5 million, down from $107.4 million in the same quarter last year. The Quebec-based company says the drop came as it earned a profit of 30 cents per diluted share for the quarter ended April 30 compared with a profit of $15.3 million or 47 cents per diluted share a year earlier. ADF, which builds complex steel structures, says the uncertainty surrounding the application and functioning of the U.S. tariffs caused an unrecoverable delay in fabrication hours, mainly at its plant in Terrebonne. It says the drop in revenue forced it to take contingency measures and start a work-sharing program at the plant that helped mitigate the negative impacts of the decrease in fabrication hours. ADF also says the tariffs hurt its margins. This report by The Canadian Press was first published June 10, 2025.
