Jewett Cameron Q3 Revenue Plunges 22% on Lost Supply Deal, Loss Widens
JCTC sits 72% above its 52-week low of $1.54.
Summary
Jewett Cameron's Q3 revenue fell 22% to $9.85M, driven by the loss of a major cedar fencing supply agreement. Net loss widened to $814K, or $0.23 per share, from $650K a year ago. The company is shifting toward metal fencing and in-store displayer programs, with Greenwood operations rebounding—sales up 43% for the nine months. Cost-cutting measures include headcount reductions and property dispositions. This follows a series of activist investor filings, with the latest 13D/A showing a 9.4% stake and continued buying, adding pressure for a turnaround. The 10-Q also revealed a reduced credit line and severe liquidity strain, raising going-concern risks.
At the time of this announcement, JCTC was trading at $2.65 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $9.3M. The 52-week trading range was $1.54 to $4.02. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.