Jewett-Cameron Reports $19.2M Revenue with Increased Losses for Six Months Ending February 28, 2026

Jewett-Cameron Trading Company Ltd. reported its financial results for the six months ending February 28, 2026, revealing a total revenue of $19.2 million, a 5% increase from $18.3 million in the same period last year. The company experienced a significant operating loss of $4.9 million, compared to a loss of $1.6 million in the prior year. The net loss for the six-month period was $5.2 million, or $1.48 per share, compared to a loss of $1.2 million, or $0.35 per share, in the previous year. The increase in losses was attributed to higher costs associated with raw materials, shipping, and tariffs, as well as a $2.2 million inventory write-down related to liquidation sales.

In the second quarter alone, Jewett-Cameron saw sales rise by 16% to $10.5 million, driven by increased sales of its Lifetime Steel Post products and the liquidation of excess inventory. However, the company noted that approximately $2.5 million of these sales were from one-time liquidation efforts, which are not expected to recur. The gross margin for the quarter decreased to 15.7% from 20.1% a year earlier, primarily due to the sale of lower-margin products and increased operational costs.

Operationally, Jewett-Cameron has been focusing on its core segments, particularly in pet and fencing products, while also managing its industrial wood operations through its subsidiary Greenwood. The latter reported a 37% increase in sales, reflecting a recovery in demand from transit customers. However, the company is also facing challenges, including the termination of a significant supply agreement with a major customer, which has led to excess inventory and increased storage costs.

The company has made strategic adjustments to its financing arrangements, increasing its line of credit with Northrim Funding Services to $8 million, which provides additional liquidity as it navigates operational challenges. As of February 28, 2026, Jewett-Cameron had cash and cash equivalents of $546,614, up from $226,213 at the end of August 2025. The company is actively working to reduce operating costs and is exploring options for divesting non-core assets, including properties previously used for its seed operations.

Looking ahead, Jewett-Cameron anticipates continued challenges due to high global tariffs, rising fuel prices, and changing consumer behavior. The company is focused on strengthening its liquidity position and operational efficiency while preparing for the traditionally busier spring and summer seasons. Management remains cautious about the impact of external factors on its financial performance and is committed to implementing strategies that prioritize profitability and market competitiveness.