ADF Group reports profit and revenue down in face of U.S. tariffs

ADF Group Inc., a Quebec-based maker of steel superstructures, fabricated the steel beams supporting the decks of the Samuel De Champlain Bridge, which opened in 2019, connecting Montreal to the South Shore across the St. Lawrence River. A span of the bridge is seen on Monday, June 17, 2019. THE CANADIAN PRESS/Paul Chiasson

TERREBONNE — ADF Group Inc. reported a profit of $26.3 million for its latest financial year, down from $56.8 million the previous year, as its revenue fell by more than 20 per cent in the face of U.S. tariffs.

The maker of steel superstructures says its profit amounted to 93 cents per diluted share for the year ended Jan. 31, down from $1.84 per diluted share a year earlier.

Revenue totalled $258.7 million for the year, down from $339.6 million the previous year.

The company says the drop in revenue pushed it to implement a work-sharing program at its Terrebonne plant that has allowed it to mitigate the negative impacts of the decrease in fabrication hours, but not entirely.

It says U.S. tariffs also indirectly hurt its margins.

The company’s backlog stood at a record $561.1 million at Jan. 31, 57 per cent of which was made up of Canadian contracts. The backlog was up from $293.1 million a year earlier.

This report by The Canadian Press was first published April 16, 2026.