Jewett-Cameron Trading 2025 Q4 Earnings Record Losses Widen 1080% Year-Over-Year

Jewett-Cameron Trading (JCTC) reported its fiscal 2025 Q4 earnings on Dec 1, 2025, with results falling sharply below expectations. The company posted a net loss of $2.25 million (-$0.64 EPS), a 1080.4% increase in losses year-over-year. CEO John M. Cameron highlighted strategic resilience amid macroeconomic challenges, while the company guided to 2026 Q1 revenue of $10.5–11.0 million and adjusted EPS of $0.15–$0.25.

Revenue

Total revenue declined 21.5% to $10.37 million in Q4 2025, driven by a 12% annual sales drop to $41.3 million for fiscal 2025. The Pet, Fencing, and Other segment, the company’s largest, faced headwinds from tariff-driven costs and inventory shortages, while Industrial Wood Products saw reduced demand. Seed Processing and Sales operations ceased by August 2023, and Corporate and Administrative Services incurred higher overhead.

Earnings/Net Income

The net loss widened to $2.25 million (-$0.64 EPS) in Q4 2025, a 1080.4% increase from $-190,504 (-$0.05 EPS) in Q4 2024. Gross margin contracted to 15.1% from 18.8% due to elevated tariffs and inventory reserves. The EPS decline reflects severe operational pressures, with the company’s profitability deteriorating despite cost-cutting measures.

Post-Earnings Price Action Review

A strategy of buying JCTC shares after its Q4 revenue drop and holding for 30 days underperformed significantly. The approach yielded a -55.85% return, versus a 18.21% benchmark, resulting in an excess return of -74.06%. Over three years, the strategy’s CAGR was -51.47%, with a Sharpe ratio of -0.94 and volatility of 54.67%. The maximum drawdown of 0.00% and high-risk profile underscore the stock’s instability post-earnings.

CEO Commentary

CEO John M. Cameron emphasized disciplined execution amid macroeconomic headwinds, noting strategic investments in digital infrastructure and supply chain optimization. He prioritized cash flow stability over expansion until market clarity improves, while highlighting growth in diversified commodities and logistics partnerships.

Guidance

JCTC expects 2026 Q1 revenue of $10.5–11.0 million and adjusted EPS of $0.15–$0.25, contingent on stabilized commodity pricing and 20% lower CAPEX. Management aims to reduce operating expenses by $1–3 million annually and focus on high-margin sectors.

Additional News

1. 10-K Report

   (Dec 1, 2025): JCTC disclosed a $4.13 million net loss for fiscal 2025, driven by tariff impacts and operational challenges. The company plans to monetize non-core assets, including excess lumber inventory and real estate.

2. Lifetime Steel Post® Expansion

   (Feb 12, 2025): JCTC expanded its in-store displayers to 334 retail locations, targeting DIY and professional markets with corrosion-resistant steel fencing.

3. MyEcoWorld® Launch

   (Feb 12, 2025): The company introduced compostable pet waste bags in 59 Tops Friendly Markets, aligning with growing demand for sustainable products.