From GlobeNewswire: 2025-01-14 16:05:00

Jewett-Cameron Trading Company Ltd. announced operational and financial results for Q1 2025, with $9.3 million in revenue. Metal fencing product sales increased by 19%, driven by new Lifetime Steel Post® in-store displayers. Wood fencing product sales increased by 4%. Pet product sales declined by 31% and compostable product sales were also down due to a large purchase in the prior year.

The company doubled in-store displayers for the Lifetime Steel Post® during the first quarter, with nearly 200 displayers installed by the end of November 2024. Point-of-sale data highlighted strong year-over-year growth for key products. The launch of the new Adjust-A-Gate® Unlimited gate kit offers flexibility and customization in gate construction.

Jewett-Cameron continues to innovate new product offerings and expand distribution with key retailers. Strategic sourcing partners are being utilized to mitigate China tariffs and ensure competitive pricing. MyEcoWorld® compostable bin liners and pet waste bags are gaining traction online and internationally. The company listed its 11.6-acre property in Oregon for sale or lease.

CEO Chad Summers is pleased with the progress made in driving growth and profitability. The company is focusing on strategic initiatives to increase shareholder value. Revenue for Q1 2025 was $9.3 million, with metal fencing product sales up 19% and wood fencing product sales up 4%. Gross profit margins for Q1 2025 were 18.3%. The decrease in gross profit margins in Q1 2025 is due to higher shipping costs and new in-store displays. Operating expenses decreased to $2.6 million from $2.7 million in Q1 2024. A settlement with a former distributor resulted in a one-time cash payment of $2.45 million in Q1 2024, offsetting legal fees and losses. Loss from operations in Q1 2025 was $(0.9) million compared to $(0.8) million in Q1 2024, with a net loss of $(0.7) million. Inventory balances decreased by 23% to $13.5 million in November 2024, with a cash balance of $3.0 million and no long-term debt. Total stockholders’ equity at November 30, 2024, was $24.2 million, or $6.90 per share. The company will hold a conference call on January 14, 2025, at 4:30 p.m. Eastern Time. Interested parties can access the call by dialing (844) 836-8745 for U.S. callers or +1 (412) 317-6797 and can access the webcast live and archived on their website. Replay information is available until January 21, 2025, at (877) 344-7529 for U.S. callers or +1 (412) 317-0088 for international callers with access code 5685030. Jewett-Cameron Trading Company Ltd. operates out of facilities in Oregon and manufactures and distributes patented metal and sustainable bag products, along with wood products. The company’s brands include Lucky Dog®, Jewett Cameron Fence, MyEcoWorld®, and others. Stockholders’ equity was $24.2 million at November 30, 2024, with total assets of $26.7 million. Jewett-Cameron Trading Company Ltd. reported a decrease in sales revenue for the three months ended November 30, 2024, compared to the same period in 2023. The company also experienced a decline in gross profit and a loss from operations. However, there was an income tax recovery that helped offset the net loss.

The company’s consolidated statements of cash flows for the same period showed a decrease in net income, along with changes in non-cash working capital items. Cash flows from operating activities were negative, while cash flows from investing activities were also on the decline. The company reported a net decrease in cash for the period.



Read more at GlobeNewswire:: Jewett-Cameron Reports Fiscal 2025 First Quarter