Jewett-Cameron Reports Fiscal 2026 Third Quarter Operational and Financial Results
Rhea-AI Summary
Jewett-Cameron (Nasdaq: JCTC) reported fiscal Q3 2026 revenue of $9.9 million, down 22% from $12.6 million in Q3 2025, mainly due to ending a low-margin cedar fencing supply agreement that reduced sales by over $3 million. Greenwood revenue rose 58% to $1.1 million, while pet products remained soft.
Gross margin improved to 18.0% from 15.0% a year ago, supported by tariff-related price increases and a richer mix of metal fencing products. Q3 2026 net loss was $(814,000) or $(0.23) per share versus $(650,000) or $(0.18) per share in Q3 2025. Inventory fell to $7.5 million from $15.9 million at August 31, 2025, and bank indebtedness declined to $1.3 million from $4.3 million at February 28, 2026, as excess inventory was monetized. The company filed tariff refund claims of about $904,000, received in full after quarter-end, and extended its borrowing agreement with Northrim Funding Services through June 30, 2027 while continuing a strategic review of potential partnerships, divestitures, and other transactions.
Positive
- Revenue mix shift: Greenwood sales +58% YoY to $1.1 million
- Gross margin improved to 18.0% from 15.0% in Q3 2025
- Inventory reduction to $7.5 million from $15.9 million since August 31, 2025
- Bank indebtedness reduced to $1.3 million from $4.3 million since February 28, 2026
- Tariff refunds of approximately $904,000 received after quarter-end
- Wages and benefits down over $1 million year to date
Negative
- Revenue declined 22% YoY to $9.9 million in Q3 2026
- Net loss widened to $(814,000) from $(650,000) YoY
- Tariffs and costs keep fence margins about 5%-15% below historical norms
- SG&A expenses increased to $1.3 million from $1.0 million on higher professional fees
- Pet products segment remains soft amid pressured consumer discretionary spending
News Explained
The July 14 release says Jewett-Cameron has not reached a definitive agreement on the strategic options under review, so no asset sale, partnership, merger, acquisition, or other ownership-changing transaction is currently committed; a definitive agreement would be the next disclosed milestone.
News Market Reaction – JCTC
In the Jul 15 session, JCTC gained 1.51%, reflecting a mild positive market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 13 | Earnings report | Neutral | +6.8% | Q2 2026 revenue growth with ongoing net loss and inventory reduction. |
| Jan 14 | Earnings report | Negative | -5.8% | Q1 2026 revenue decline, steep margin compression and sizable net loss. |
| Dec 01 | Earnings report | Negative | -15.4% | Fiscal 2025 revenue drop, larger net loss and lower gross margins. |
| Jul 14 | Earnings report | Negative | -6.9% | Q3 2025 revenue decline, margin contraction and swing to net loss. |
| Apr 14 | Earnings report | Neutral | -7.2% | Q2 2025 revenue growth but weaker margins and continued net loss. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings headlines have generally skewed negative for the stock, with 4 of the last 5 tagged earnings events followed by price declines.
Key Terms
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Company to host webcast today, July 14, 2026, at 4:30 p.m. Eastern time
NORTH PLAINS, Ore., July 14, 2026 (GLOBE NEWSWIRE) -- Jewett-Cameron Trading Company Ltd. (the “Company”; Nasdaq: JCTC), a company committed to innovative products that enrich outdoor spaces, today announced operational and financial results for the fiscal 2026 third quarter and nine-month period ended May 31, 2026.
Management Discussion
“We made measurable progress again during the third quarter, even as the reported year-over-year comparison was impacted by the cancellation of a low-margin cedar fencing supply agreement which reduced revenue by over
“We also made significant progress strengthening the balance sheet and improving liquidity,” Summers continued. “Through the first nine months of fiscal 2026, we reduced inventory by more than
“Margin contribution remains under pressure from tariffs, higher product costs, and logistics costs, but we have seen some stabilization from earlier in fiscal 2026 as customers accepted initial tariff-related price increases,” Summers continued. “That said, stabilization does not equate to a return to pre-tariff margins, and most fence categories remain below historical norms. We continue to focus on cash conversion, completing the monetization of remaining excess non-core inventory, pursuing tariff refunds where available, and evaluating strategic partnerships, collaborations and potential divestitures involving select businesses and real estate assets. Our priority remains to unlock value from non-core assets while exiting fiscal 2026 with a sustainable long-term business model,” Summers concluded.
Financial Results
Revenue for Q3 2026 was
Gross profit margins during Q3 2026 were
Operating expenses during Q3 2026 were
Net loss for Q3 2026 was
Cash and cash equivalents were
Continual Strategic Review
As previously announced, the Company is in the process of implementing its strategic realignment to promote growth and profitability following a challenging second half of fiscal 2025 and first nine months of fiscal 2026, which was marked by significant volatility primarily due to the uncertain tariff and global economic situation. Management and the Board have evaluated, and continue to evaluate, a variety of strategic options for the Company, as well as its individual operating segments and assets, that prioritize the Company’s overall value. No definitive agreements have been reached as of the date of this release, and the Company does not intend to provide further updates on these discussions unless and until definitive agreements are reached.
This comprehensive strategy includes, but is not limited to:
- Concentrating on the Company’s core metal fencing products, its largest and most successful product category, and optimizing sales of other product categories.
- Significantly improving operational efficiencies and cost structure with a commitment to reduce annual operating expenses. It is the Company’s intent to exit fiscal 2026 with a business model that is sustainable in the long term, leveraging the current value of non-core assets to fund its core growth strategy and deliver enhanced value to shareholders.
- Completing the monetization of remaining excess non-core inventory while exploring collaborative alliances, business partnerships and potential divestitures to best monetize non-core assets and business lines which may include the Company’s industrial lumber subsidiary, selective pet assets, its wood fencing business, and sale of certain real estate assets.
Strategic options under consideration may include mergers, acquisitions, divestitures, joint ventures and other business collaborations and partnerships that would potentially involve specific assets or business lines of the Company. The Company engages in preliminary discussions with third parties from time to time regarding a variety of potential transactions. There can be no assurance that these discussions will result in definitive agreements or the completion of any transaction.
Conference Call Details
Date and Time: Tuesday, July 14, 2026, at 4:30 p.m. Eastern time
Webcast Information: The webcast will be accessible live and will be archived at https://app.webinar.net/lKQZLJ4nPaG and accessible on the Investors section of the Company's website at https://jewettcameron.com/pages/investor-relations. To submit questions, please send them to JCTC@lythampartners.com.
About Jewett-Cameron Trading Company Ltd. (JCTC)
Jewett-Cameron Trading Company Ltd. is a trusted provider of innovative, high-quality products that enrich outdoor spaces. Jewett-Cameron Company’s business consists of the manufacturing and distribution of patented and patent-pending specialty metal and sustainable bag products and the wholesale distribution of wood products. The Company’s brands include Lucky Dog® for pet products; Jewett Cameron Fence for brands such as Adjust-A-Gate®, Fit-Right®, Perimeter Patrol®, Euro Fence, Lifetime Steel Post®, and Jewett Cameron Lumber for gates and fencing; MyEcoWorld® for sustainable bag products; and Early Start, Spring Gardner, Greenline® and Weatherguard for greenhouses. Additional information about the Company and its products can be found on the Company’s website at www.jewettcameron.com.
Forward-looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words like “plans”, “expects”, “aims”, “believes”, “projects”, “anticipates”, “intends”, “estimates”, “will”, “should”, “could” and similar expressions in connection with any discussion, expectation, or projection of future operating or financial performance, events or trends. Forward-looking statements are based on management’s current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict, including but not limited to the fact that our business is highly competitive, we are continually seeking ways to expand our business, we may seek additional financing or other ways to expand operations and improve margins, the uncertainties of the Company’s new product introductions, the risks of increased competition and technological change, customer concentration risk, supply chain delays, governmental and regulatory risks, and uncertain tariff and transport rates, as well as the other risk factors that are set forth in more detail in our Annual Report on Form 10-K and other documents filed with the Securities and Exchange Commission. Actual outcomes and results may differ materially from these expectations and assumptions due to changes in global political, economic, business, competitive, market, regulatory and other factors. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise, except as required by law.
Investor Contact:
Robert Blum
Lytham Partners
Phone: (602) 889-9700
JCTC@lythampartners.com
JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED BALANCE SHEETS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)
| May 31, 2026 | August 31, 2025 | |||||
| ASSETS | ||||||
| Current assets | ||||||
| Cash and cash equivalents | $ | 1,063,801 | $ | 226,213 | ||
| Accounts receivable, net of allowance of | 4,232,247 | 3,863,678 | ||||
| Inventory, net of allowance of | 7,452,636 | 15,885,589 | ||||
| Assets held for sale (note 4) | 901,811 | 566,022 | ||||
| Prepaid expenses | 1,186,176 | 1,000,439 | ||||
| Prepaid income taxes | 204,526 | 180,151 | ||||
| Tariff refund receivable (note 12) | 286,274 | - | ||||
| Total current assets | 15,327,471 | 21,722,092 | ||||
| Property, plant and equipment, net (note 4) | 2,967,393 | 3,643,114 | ||||
| Intangible assets, net (note 5) | 110,764 | 111,389 | ||||
| Deferred tax assets (Note 6) | - | 3 | ||||
| Total assets | $ | 18,405,628 | $ | 25,476,598 | ||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
| Current liabilities | ||||||
| Accounts payable | $ | 1,305,959 | $ | 1,510,173 | ||
| Bank indebtedness (note 7) | 1,328,270 | 2,101,835 | ||||
| Accrued liabilities | 997,042 | 1,083,612 | ||||
| Total liabilities | 3,631,271 | 4,695,620 | ||||
| Stockholders’ equity | ||||||
| Capital stock (notes 8, 9) Authorized 21,567,564 common shares, no par value 10,000,000 preferred shares, no par value Issued 3,520,113 common shares (August 31, 2025 – 3,518,119) | 830,473 | 830,003 | ||||
| Additional paid-in capital | 852,816 | 852,510 | ||||
| Retained earnings | 13,091,068 | 19,098,465 | ||||
| Total stockholders’ equity | 14,774,357 | 20,780,978 | ||||
| Total liabilities and stockholders’ equity | $ | 18,405,628 | $ | 25,476,598 |
The notes are an integral part of the financial statements and are available in the Form10-Q available on the Company’s website.
JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)
| Three Month Period Ended May 31, | Nine Month Period Ended May 31, | ||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||
| SALES | $ | 9,852,338 | $ | 12,605,344 | $ | 29,043,015 | $ | 30,927,295 | |||||
| COST OF SALES | 8,078,128 | 10,716,337 | 26,698,473 | 25,528,678 | |||||||||
| GROSS PROFIT | 1,774,210 | 1,889,007 | 2,344,542 | 5,398,617 | |||||||||
| OPERATING EXPENSES | |||||||||||||
| Selling, general and administrative expenses | 1,302,396 | 1,008,334 | 4,138,524 | 2,757,714 | |||||||||
| Depreciation and amortization | 60,408 | 80,008 | 200,253 | 242,303 | |||||||||
| Wages and employee benefits | 1,179,687 | 1,488,446 | 3,670,490 | 4,715,013 | |||||||||
| 2,542,491 | 2,576,788 | 8,009,267 | 7,715,030 | ||||||||||
| Loss from operations | (768,281 | ) | (687,781 | ) | (5,664,725 | ) | (2,316,413 | ) | |||||
| OTHER ITEMS | |||||||||||||
| Other income | - | - | - | 306 | |||||||||
| Gain on sale of assets | 200 | - | 200 | 800 | |||||||||
| Interest (expense) income | (75,151 | ) | (74,147 | ) | (341,759 | ) | (43,053 | ) | |||||
| (74,951 | ) | (74,147 | ) | (341,559 | ) | (41,947 | ) | ||||||
| Loss before income taxes | (843,232 | ) | (761,928 | ) | (6,006,284 | ) | (2,358,360 | ) | |||||
| Income tax recovery (expense) | 28,902 | 112,294 | (1,113 | ) | 476,915 | ||||||||
| Net loss | $ | (814,330 | ) | $ | (649,634 | ) | $ | (6,007,397 | ) | $ | (1,881,445 | ) | |
| Basic (loss) earnings per common share | $ | (0.23 | ) | $ | (0.18 | ) | $ | (1.71 | ) | $ | (0.54 | ) | |
| Diluted (loss) earnings per common share | $ | (0.23 | ) | $ | (0.18 | ) | $ | (1.71 | ) | $ | (0.54 | ) | |
| Weighted average number of common shares outstanding: | |||||||||||||
| Basic | 3,520,113 | 3,518,119 | 3,519,368 | 3,512,733 | |||||||||
| Diluted | 3,520,113 | 3,518,119 | 3,519,368 | 3,512,733 | |||||||||
JEWETT-CAMERON TRADING COMPANY LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in U.S. Dollars)
(Prepared by Management)
(Unaudited)
| Nine Month Period Ended May 31, | ||||||
| 2026 | 2025 | |||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net loss | $ | (6,007,397 | ) | $ | (1,881,445 | ) |
| Items not involving an outlay of cash: | ||||||
| Depreciation and amortization | 200,253 | 242,303 | ||||
| Stock-based compensation expense | 776 | 59,926 | ||||
| Gain on sale of assets | (200 | ) | (800 | ) | ||
| Write-off of property, plant and equipment | 140,304 | - | ||||
| Deferred income tax expense | 3 | (561,066 | ) | |||
| Changes in non-cash working capital items: | ||||||
| (Increase) in accounts receivable | (368,569 | ) | (3,120,767 | ) | ||
| (Increase) decrease in inventory | 8,432,953 | (2,100,674 | ) | |||
| Decrease (increase) in prepaid expenses | (185,737 | ) | 186,242 | |||
| (Increase) in tariff refund receivable | (286,274 | ) | - | |||
| Increase (decrease) in accounts payable and accrued liabilities | (290,784 | ) | 1,133,160 | |||
| (Increase) decrease in prepaid income taxes | (24,375 | ) | 50,326 | |||
| Increase in income taxes payable | - | 14,426 | ||||
| Net cash provided by (used in) operating activities | 1,610,953 | (5,978,369 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Proceeds on sale of property, plant and equipment | 200 | 800 | ||||
| Purchase of property, plant and equipment | (93,384 | ) | ||||
| Net cash provided by (used in) investing activities | 200 | (92,584 | ) | |||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Proceeds from (repayment to) bank indebtedness | (773,565 | ) | 2,422,305 | |||
| Net cash provided by (used in) financing activities | (773,565 | ) | 2,422,305 | |||
| Net (decrease) increase in cash and cash equivalents | 837,588 | (3,648,648 | ) | |||
| Cash and cash equivalents, beginning of period | 226,213 | 4,853,367 | ||||
| Cash and cash equivalents, end of period | $ | 1,063,801 | $ | 1,204,719 | ||
