Jerash Holdings Reports Financial Results for Fiscal 2026 Fourth Quarter and Full Year
Rhea-AI Summary
Jerash Holdings (NASDAQ:JRSH) reported strong fiscal 2026 results, with fourth-quarter revenue up 46.6% to $42.9 million and net income of $1.7 million, versus a loss a year earlier.
Full-year revenue rose 14.0% to a record $166.3 million, net income reached $3.6 million, the company expanded capacity with a new building, secured $20 million in undrawn credit facilities, issued a $0.05 quarterly dividend, and guided fiscal 2027 Q1 revenue growth of 20–22%.
Positive
- Q4 2026 revenue up 46.6% to $42.9 million
- Full-year 2026 revenue up 14.0% to record $166.3 million
- Full-year gross margin improved to 16.1% from 15.3%
- Operating income rose to $6.3 million from $1.4 million
- Net income swung to $3.6 million from an $0.84 million loss
- $20 million in undrawn revolving credit facilities bolstering liquidity
Negative
- Q4 gross margin declined to 17.1% from 17.9%
- Full-year other expenses increased to $1.6 million from $1.3 million
- Q4 interest expense totaled $383,000, pressuring net income
News Market Reaction – JRSH
In the Jun 15 session, JRSH gained 8.38%, reflecting a notable positive market reaction. Argus tracked a peak move of +157.3% during that session. Argus tracked a trough of -7.8% from its starting point during tracking. Our momentum scanner triggered 24 alerts that day, indicating elevated trading interest and price volatility. Trading volume was exceptionally heavy at 25.1x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 09 | Q3 earnings beat | Positive | +13.4% | Q3 revenue up 18% with margin expansion and strong profit improvement. |
| Nov 12 | Q2 earnings | Positive | +0.3% | Q2 revenue growth, 15% gross margin and continued profitability with dividend. |
| Aug 12 | Q1 earnings | Positive | +3.7% | Return to profitability with higher gross profit and added capacity. |
| Jun 23 | FY25 earnings | Positive | -3.9% | Record FY25 revenue and better margins despite Q4 net loss. |
| Feb 11 | Q3 FY25 earnings | Positive | +0.6% | Strong revenue growth despite port issues and ongoing capacity expansion. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have generally been received positively, with 4 of the last 5 earnings events followed by share price gains, though one strong report saw a negative reaction.
Over the past five earnings cycles, Jerash has shown consistent operational improvement, with revenue growth, expanding gross margins, and a shift from losses to profitability. Capacity additions and dividends have been recurring themes. The current Q4 and full-year 2026 results extend this trend, showing record revenue and stronger margins, building on prior quarters’ guidance and facility expansions highlighted in earlier earnings announcements.
Key Terms
gross margin financial
operating income financial
net working capital financial
revolving credit facilities financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
-- Robust Fourth-Quarter Growth Caps Record Revenue Year as Profitability Accelerates --
FAIRFIELD, NJ / ACCESS Newswire / June 15, 2026 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the "Company" or "Jerash"), which manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands, today announced financial results for its fiscal 2026 fourth quarter and full year ended March 31, 2026.
Fiscal 2026 Fourth Quarter Highlights
Revenue increased by 46.6 percent to
$42.9 million , from$29.3 million in the prior year quarter.Gross margin was 17.1 percent, compared with 17.9 percent a year ago.
Operating income advanced more than fivefold to
$2.3 million , from$434,000 in the prior year quarter.Net income improved significantly to
$1.7 million , compared with a net loss of$144,000 last year.
Fiscal 2026 Full Year Highlights
Revenue increased by 14.0 percent to a record
$166.3 million , from$145.8 million in fiscal 2025.Gross margin improved to 16.1 percent, from 15.3 percent in fiscal 2025.
Operating income more than quadrupled to
$6.3 million , from$1.4 million in fiscal 2025.Net income improved to
$3.6 million , or$0.27 per diluted share, from a net loss of$840,000 , or$0.07 per share, in fiscal 2025.
Outlook
Revenue for the fiscal 2027 first quarter is expected to increase by 20 to 22 percent over
$39.6 million in the prior fiscal year's first quarter.Gross margin for the fiscal 2027 first quarter is anticipated to be approximately 15 to 17 percent, with increased emphasis on customer diversification and reduced seasonality.
"Jerash closed fiscal 2026 achieving strong fourth quarter performance and record revenue for the full year, driven by rising demand from both our long-standing global brand customers and orders from newer customers over the past few years," said Sam Choi, Jerash's chairman and chief executive officer. "We have made progress toward reducing customer concentration, and along with improved production efficiencies, we managed to smooth out seasonality in the second half of fiscal 2026 to achieve higher sales and better margins. With both the Aqaba and Haifa ports fully open and operating normally during the quarter, we were also pleased to complete additional export shipments despite the seasonal impact typically associated with the month-long Ramadan and Eid al-Fitr holiday period, which began on February 19 this year.
"Operationally, we are expanding production and reorganizing warehouse capacity in phases at several manufacturing facilities, including our newly acquired building, to better accommodate growing customer demand. The first phase of renovation is expected to add approximately 15 percent to our capacity and accommodate 700 additional workers by the end of calendar year 2026. The remaining expansion is planned for completion by mid-calendar year 2027, which should contribute an additional 20 to 25 percent in production capacity.
"Our production facilities are fully booked through December 2026, ensuring a steady flow of profitable growth. Management remains focused on further improving gross margin through increased automation and enhanced production efficiencies driven by economies of scale," Choi added.
Fiscal 2026 Fourth Quarter Results
Fiscal 2026 fourth quarter revenue rose by 46.6 percent to
Gross profit increased 40.4 percent to
Operating expenses totaled
Operating income rose more than fivefold to
Total other expenses in the fiscal 2026 fourth quarter were
Income tax expenses were
Net income rose to
Comprehensive income attributable to the Company's common stockholders advanced to
Fiscal 2026 Full Year Results
Revenue for the full 2026 fiscal year increased by 14.0 percent to a record high
Gross profit for fiscal 2026 rose 20.0 percent to
Total operating expenses for fiscal 2026 were
Operating income more than quadrupled to
Total other expenses in fiscal 2026 were
Income tax expenses were
Net income for fiscal 2026 improved by
Comprehensive income attributable to Jerash's common stockholders improved to
Balance Sheet, Cash Flow and Dividends
Cash and restricted cash totaled
On May 4, 2026, the board of directors of Jerash approved a regular quarterly dividend of
Conference Call
Jerash Holdings will host an investor conference call to discuss its fiscal 2026 fourth quarter and full year results today, June 15, 2026, at 9:00 a.m. Eastern Time.
Phone: 888-506-0062 (domestic); 973-528-0011 (international)
Conference ID: 899698
A live and archived webcast will be available online in the investor relations section of Jerash's website at www.jerashholdings.com. For those who are not able to listen to the live broadcast, the call will be archived for approximately one year on the website.
About Jerash Holdings (US), Inc.
Jerash Holdings (US), Inc. manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands and retailers, including VF Corporation (which owns brands such as The North Face, Timberland, and Vans), New Balance, G-III (which licenses brands such as Calvin Klein, Tommy Hilfiger, and Nautica), Hugo Boss, American Eagle, and Acushnet (which owns brands such as Footjoy and Titleist). Jerash's existing production facilities comprise eight factory units and six warehouses, and Jerash currently employs approximately 6,300 people. Additional information is available at www.jerashholdings.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "seek", "potential," "outlook" and similar expressions are intended to identify forward-looking statements. Such statements, including, but not limited to, Jerash's current views with respect to future events and its financial forecasts, and expansion of the customer base among high-profile global brands, are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by Jerash with the U.S. Securities and Exchange Commission. These and other risks and uncertainties are detailed in the Company's filings with the U.S. Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Jerash does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.
Contact:
PondelWilkinson Inc.
Judy Lin or Roger Pondel
310-279-5980; jlin@pondel.com
# # #
(tables below)
JERASH HOLDINGS (US), INC., AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the Three Months Ended March 31, | For the Fiscal Years Ended March 31, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
(Unaudited) | (Unaudited) |
|
| |||||||||||||
|
|
|
| |||||||||||||
Revenue, net | $ | 42,896,842 | $ | 29,251,426 | $ | 166,263,870 | $ | 145,812,006 | ||||||||
Cost of goods sold | 35,541,194 | 24,012,525 | 139,480,501 | 123,492,561 | ||||||||||||
Gross Profit | 7,355,648 | 5,238,901 | 26,783,369 | 22,319,445 | ||||||||||||
Selling, general and administrative expenses | 4,795,599 | 4,464,351 | 19,551,781 | 19,114,456 | ||||||||||||
Stock-based compensation expenses | 223,851 | 341,035 | 904,171 | 1,758,146 | ||||||||||||
Total Operating Expenses | 5,019,450 | 4,805,386 | 20,455,952 | 20,872,602 | ||||||||||||
Income from Operations | 2,336,198 | 433,515 | 6,327,417 | 1,446,843 | ||||||||||||
Other Income (Expense): | ||||||||||||||||
Interest expenses | (382,867 | ) | (371,469 | ) | (1,625,387 | ) | (1,719,760 | ) | ||||||||
Other (expenses) income, net | (15,801 | ) | 117,667 | 45,416 | 424,108 | |||||||||||
Total other expenses, net | (398,668 | ) | (253,802 | ) | (1,579,971 | ) | (1,295,652 | ) | ||||||||
Net income before provision for income taxes | 1,937,530 | 179,713 | 4,747,446 | 151,191 | ||||||||||||
Income tax expenses | 269,521 | 323,808 | 1,120,044 | 991,120 | ||||||||||||
Net income (loss) | 1,668,009 | (144,095 | ) | 3,627,402 | (839,929 | ) | ||||||||||
Net income attributable to noncontrolling interest | 81,265 | 8,540 | 89,802 | 8,440 | ||||||||||||
Net income (loss) attributable to Jerash Holdings (US), Inc.'s Common Stockholders | $ | 1,586,744 | $ | (152,635 | ) | $ | 3,537,600 | $ | (848,369 | ) | ||||||
Net income (loss) | $ | 1,668,009 | $ | (144,095 | ) | $ | 3,627,402 | $ | (839,929 | ) | ||||||
Other Comprehensive Income (Loss): | ||||||||||||||||
Foreign currency translation gain (loss) | 992 | 103,670 | 48,369 | (20,803 | ) | |||||||||||
Total Comprehensive Income (Loss) | 1,669,001 | (40,425 | ) | 3,675,771 | (860,732 | ) | ||||||||||
Comprehensive income attributable to noncontrolling interest | 81,265 | 8,540 | 89,802 | 8,440 | ||||||||||||
Comprehensive Income (Loss) Attributable to Jerash Holdings (US), Inc.'s Common Stockholders | $ | 1,587,736 | $ | (48,965 | ) | $ | 3,585,969 | $ | (869,172 | ) | ||||||
Earnings (Loss) Per Share Attributable to Common Stockholders: | ||||||||||||||||
Basic | $ | 0.12 | $ | (0.01 | ) | $ | 0.28 | $ | (0.07 | ) | ||||||
Diluted | $ | 0.12 | $ | (0.01 | ) | $ | 0.27 | $ | (0.07 | ) | ||||||
Weighted Average Number of Shares | ||||||||||||||||
Basic | 12,699,940 | 12,433,363 | 12,699,940 | 12,329,021 | ||||||||||||
Diluted | 13,285,785 | 12,433,363 | 13,188,685 | 12,329,021 | ||||||||||||
Dividend per share | $ | 0.05 | $ | 0.05 | $ | 0.20 | $ | 0.20 | ||||||||
JERASH HOLDINGS (US), INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
March 31, | March 31, | |||||||
|
| |||||||
ASSETS |
|
| ||||||
Current Assets: |
|
| ||||||
Cash | $ | 10,764,576 | $ | 13,346,791 | ||||
Accounts receivable, net | 5,676,122 | 3,076,074 | ||||||
Inventories | 29,956,361 | 27,704,829 | ||||||
Prepaid expenses and other current assets | 3,351,655 | 3,648,321 | ||||||
Advances to suppliers, net | 8,639,635 | 6,644,194 | ||||||
Total Current Assets | 58,388,349 | 54,420,209 | ||||||
Restricted cash - non-current | 1,702,935 | 1,717,248 | ||||||
Long-term deposits | 834,686 | 464,934 | ||||||
Property, plant, and equipment, net | 27,388,699 | 25,023,681 | ||||||
Goodwill | 499,282 | 499,282 | ||||||
Operating lease right of use assets | 1,038,563 | 850,172 | ||||||
Total Assets | $ | 89,852,514 | $ | 82,975,526 | ||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities: | ||||||||
Credit facilities | $ | 4,902,996 | $ | 4,512,462 | ||||
Accounts payable | 7,167,019 | 6,507,308 | ||||||
Accrued expenses | 5,528,165 | 4,342,436 | ||||||
Income tax payable - current | 1,331,765 | 1,305,386 | ||||||
Uncertain tax provision | - | 175,290 | ||||||
Other payables | 2,092,183 | 2,149,185 | ||||||
Deferred revenue | 241,357 | 487,004 | ||||||
Bank loan - current | 58,766 | - | ||||||
Operating lease liabilities - current | 319,910 | 339,699 | ||||||
Total Current Liabilities | 21,642,161 | 19,818,770 | ||||||
Deferred tax liabilities, net | 73 | 120 | ||||||
Operating lease liabilities - non-current | 539,183 | 287,527 | ||||||
Bank loan - non current | 2,762,034 | - | ||||||
Total Liabilities | 24,943,451 | 20,106,417 | ||||||
Equity | ||||||||
Preferred stock, | - | - | ||||||
Common stock, | 12,939 | 12,939 | ||||||
Additional paid-in capital | 26,579,006 | 25,674,835 | ||||||
Treasury stock, 239,478 shares | (1,169,046 | ) | (1,169,046 | ) | ||||
Statutory reserve | 413,821 | 413,821 | ||||||
Retained earnings | 39,394,513 | 38,396,901 | ||||||
Accumulated other comprehensive loss | (464,753 | ) | (513,122 | ) | ||||
Total Jerash Holdings (US), Inc. Stockholders' Equity | 64,766,480 | 62,816,328 | ||||||
Noncontrolling interest | 142,583 | 52,781 | ||||||
Total Equity | 64,909,063 | 62,869,109 | ||||||
Total Liabilities and Equity | $ | 89,852,514 | $ | 82,975,526 | ||||
JERASH HOLDINGS (US), INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Fiscal Years Ended March 31, | ||||||||
2026 | 2025 | |||||||
CASH FLOWS FROM OPERATING ACTIVITIES |
|
| ||||||
Net income (loss) | $ | 3,627,402 | $ | (839,929 | ) | |||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation | 3,074,963 | 2,681,709 | ||||||
Stock-based compensation expenses | 904,171 | 1,758,146 | ||||||
Credit loss (recovery), net | 73,479 | (17,054 | ) | |||||
Amortization of operating lease right-of-use assets | 588,463 | 591,961 | ||||||
Uncertain tax provision | - | 175,290 | ||||||
Changes in operating assets: | ||||||||
Accounts receivable | (2,673,527 | ) | 2,358,493 | |||||
Inventories | (2,251,532 | ) | (463,257 | ) | ||||
Prepaid expenses and other current assets | 296,668 | (902,253 | ) | |||||
Advance to suppliers | (1,995,441 | ) | (3,558,057 | ) | ||||
Deferred tax assets | - | 158,329 | ||||||
Changes in operating liabilities: | ||||||||
Accounts payable | 659,711 | 167,071 | ||||||
Accrued expenses | 1,185,730 | 166,593 | ||||||
Other payables | (57,002 | ) | (85,685 | ) | ||||
Deferred revenue | (245,647 | ) | 476,804 | |||||
Operating lease liabilities | (544,988 | ) | (544,616 | ) | ||||
Income tax payable | (148,106 | ) | (759,037 | ) | ||||
Deferred tax liabilities | (47 | ) | 120 | |||||
Net cash provided by operating activities | 2,494,297 | 1,364,628 | ||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||
Purchases of property, plant and equipment | (5,128,453 | ) | (951,112 | ) | ||||
Payments for construction of properties | - | (1,089,484 | ) | |||||
Payment for long-term deposits | (665,825 | ) | (329,326 | ) | ||||
Net cash used in investing activities | (5,794,278 | ) | (2,369,922 | ) | ||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||
Dividend payments | (2,539,988 | ) | (2,458,968 | ) | ||||
Repayment of short-term loan | (21,723,106 | ) | (14,103,935 | ) | ||||
Proceeds from short-term loan | 22,113,640 | 18,616,397 | ||||||
Proceeds from long-term loan | 2,820,800 | - | ||||||
Net cash provided by financing activities | 671,346 | 2,053,494 | ||||||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND RESTRICTED CASH | 32,107 | (21,028 | ) | |||||
NET (DECREASE) INCREASE IN CASH AND RESTRICTED CASH | (2,596,528 | ) | 1,027,172 | |||||
CASH, AND RESTRICTED CASH, BEGINNING OF THE YEAR | 15,064,039 | 14,036,867 | ||||||
CASH, AND RESTRICTED CASH, END OF THE YEAR | $ | 12,467,511 | $ | 15,064,039 | ||||
CASH, AND RESTRICTED CASH, END OF THE YEAR | $ | 12,467,511 | $ | 15,064,039 | ||||
LESS: NON-CURRENT RESTRICTED CASH | 1,702,935 | 1,717,248 | ||||||
CASH, END OF THE YEAR | $ | 10,764,576 | $ | 13,346,791 | ||||
Supplemental disclosure information: | ||||||||
Cash paid for interest | $ | 1,625,387 | $ | 1,719,760 | ||||
Income tax paid | $ | 1,272,591 | $ | 1,398,684 | ||||
Non-cash investing and financing activities | ||||||||
Equipment obtained by utilizing long-term deposit | $ | 296,098 | $ | 667,567 | ||||
Operating lease right of use assets obtained in exchange for operating lease obligations | $ | 765,303 | $ | 186,726 | ||||
SOURCE: Jerash Holdings (US), Inc.
View the original press release on ACCESS Newswire