ADF Group Inc., a Quebec-based maker of steel superstructures, reported a first-quarter profit of $8.7-million, but its revenue significantly dropped to $55.5-million from $107.4-million year-over-year. This decline is attributed to uncertainty and unrecoverable delays caused by U.S. tariffs, particularly affecting fabrication hours at its Terrebonne plant and hurting margins.
ADF Group reports first-quarter profit, while revenue falls due to U.S. tariffs
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TL;DR: Key points with love ❤️ADF Group Inc., a Quebec-based maker of steel superstructures, reported a first-quarter profit of $8.7-million, but its revenue significantly dropped to $55.5-million from $107.4-million year-over-year. This decline is attributed to uncertainty and unrecoverable delays caused by U.S. tariffs, particularly affecting fabrication hours at its Terrebonne plant and hurting margins.
- 1 First quarter ended April 30: ADF Group reported its financial results.
- Significant decrease in ADF Group's revenue.
- Implementation of a work-sharing program at the Terrebonne plant.
- Tariffs hurt the company's margins.
What: ADF Group Inc. reported a first-quarter profit of $8.7-million, but its revenue plunged to $55.5-million from $107.4-million compared to the same quarter last year.
When: First quarter ended April 30 (2025).
Where: Quebec, Canada (company based); Terrebonne, Canada (plant location); United States (tariffs origin).
Why: The drop in revenue and impact on margins were caused by uncertainty related to U.S. tariffs, which led to unrecoverable delays in fabrication hours.
How: U.S. tariffs created an uncertain environment, causing delays in fabrication hours, mainly at ADF's Terrebonne plant. This forced the company to take contingency measures, including starting a work-sharing program, to mitigate negative impacts.