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ADF Group Reports First-Quarter Profit, While Revenue Falls Due to U.S. Tariffs

ADF Group Inc., a Quebec-based manufacturer of steel superstructures, posted earnings of $8.7 million for the quarter ending April 30, 2025.
The profit decline and revenue drop from $107.4 million to $55.5 million were caused by uncertainty around U.S. tariffs affecting fabrication hours at its Terrebonne plant.
To address the impact of the tariffs and reduced fabrication time, ADF implemented a work-sharing program that helped lessen the financial effects at its Quebec facility.
This quarter, ADF reported earnings of 30 cents per diluted share, down from 47 cents per share in the previous year, attributing a significant decline in profit margins to the impact of tariffs.
The revenue decline forced ADF to apply contingency measures, underscoring ongoing challenges from trade policy uncertainty in the steel fabrication sector.

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