JCTC earnings analysis
What we found in JCTC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Jewett-Cameron Trading Company reported a decline in revenue for Q3 2026, with total sales of $9.85M, down 22% from $12.61M in Q3 2025. Gross margins improved to 18.0%, up from 15.0% year-over-year, despite operating losses of $435,091. The company continues to face challenges from high tariffs and declining consumer spending in key markets, while the Industrial Wood Products segment showed positive growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Decline
- Sales decreased by $2.75M or 22% compared to Q3 2025, totaling $9.85M.
- Improved Gross Margin
- Gross margin improved to 18% in Q3 2026, up from 15% in Q3 2025.
- Segment Performance
- Greenwood revenues rose by 58% year-over-year, from $705K to $1.12M.
- Cost Reductions
- Operating expenses for JCC were flat at $2.54M compared to Q3 2025.
- Significant Tariff Refund
- Received a tariff refund of $286,274, reducing costs.
- Cash and Inventories Optimized
- Cash increased to $1.06M, while inventory sharply decreased by 53%, totaling $7.45M.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Loss of Major Customer
- Loss of cedar fencing supply agreement contributed to a $3.06M revenue shortfall in Q3 2026.
- High Operating Losses
- Operating loss of $435,091 recorded in Q3, an indicator of continued financial distress.
- Ongoing Tariff Impact
- Sustained high tariffs and inflation continue to hurt margins and sales.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.23
- Gross margin
- 18%
- Segment
- Pet, Fencing and Other
- Segment
- Industrial Wood Products
What they said about what is next.
Management expects continued challenges with high tariffs and consumer spending in the market.
The filing reads worse than the one before it.
What came before.
- 10-Q · April 13, 2026
- Q2 revenue improved to $10,537,210 (up $1,482,259 or 16.4% vs. $9,054,951) but margins and profitability deteriorated: gross profit fell to $1,649,265 and gross margin compressed to ~15.66% (from 20.05%). The company…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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