Jewett-cameron Trading Company Stock Earnings Reports

Jewett-Cameron reported Q1 FY2026 revenue of $8.3M, down 7% year-over-year, with a net loss of $3.9M ($1.12/share) driven primarily by $2.2M of incremental inventory write-downs (pet and lumber) and liquidation of reserved inventory. Core metal fence sales improved slightly and Greenwood (industrial wood) sales grew 45%, but decreases in lumber and pet weighed on results. Gross margin was negative 12.5% for the quarter. Management is focused on (1) prioritizing and investing in its resilient metal fence business, (2) reducing costs — targeting $1M–$3M of annual OpEx reductions and already lowering wages/benefits from $1.7M to $1.2M in the quarter — and (3) monetizing non-core assets (selected lumber, pet assets, wood fencing business, seed processing/storage and innovation studio property) and exploring strategic partnerships or divestitures. The company amended its credit facility (NorthRim) to increase borrowing capacity (max borrowable raised to $6.5M; higher advances on AR and inventory), and had $4.2M drawn at quarter end. Inventory fell to $13.5M but reserve increased to $3.05M. Management expects pricing progress versus tariffs to continue, further inventory reductions (liquidations and third-party sales) to improve cash and reduce warehousing costs, and aims to exit FY2026 with a sustainable, more focused business model.