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JRSH Nasdaq· Jerash Holdings (US) Inc.
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JRSH Nasdaq· Jerash Holdings (US) Inc.
Earnings report Q4 2023

Jerash Holdings (US), Inc. Reports Decrease in Revenue for Q4 2023

Segments of Revenue

Jerash Holdings (US), Inc. reported a decrease in revenue for the three months ended December 31, 2023. Revenue decreased by approximately $15.5 million, or 36%, to $27.5 million, compared to revenue of approximately $43.0 million for the same period in fiscal 2022.

Strengths

Despite the decrease in revenue, Jerash Holdings (US), Inc. demonstrated resilience in the face of challenges. Management attributed the decline in revenue primarily to reduced shipments to some major customers in the U.S. and Hong Kong, which was a result of high inflation and high interest rates. Additionally, logistics issues caused by tension in the Red Sea led to delayed orders and disrupted raw material importation. However, the company successfully resolved these challenges by establishing an alternate route using the Port of Jebel Ali in the United Arab Emirates.

Challenges

The decrease in revenue poses a significant challenge for Jerash Holdings (US), Inc. The company faced reduced shipments to major customers due to high inflation and high interest rates, which impacted their sales. Additionally, logistics issues caused by tension in the Red Sea disrupted the supply chain and led to delayed orders. These challenges resulted in a decline in revenue for the quarter.

Noteworthy

It is noteworthy that Jerash Holdings (US), Inc. experienced a decrease in revenue due to external factors such as high inflation, high interest rates, and logistics issues. The company's ability to resolve the challenges by establishing an alternate route using the Port of Jebel Ali in the United Arab Emirates demonstrates their adaptability and commitment to overcoming obstacles.

Summary

Jerash Holdings (US), Inc. reported a decrease in revenue for the three months ended December 31, 2023. The decline was primarily attributed to reduced shipments to major customers in the U.S. and Hong Kong, as well as logistics issues caused by tension in the Red Sea. Despite these challenges, the company successfully resolved the disruptions by establishing an alternate route using the Port of Jebel Ali in the United Arab Emirates. Jerash Holdings (US), Inc. demonstrated resilience in the face of external challenges, showcasing their adaptability and commitment to overcoming obstacles.

Source documents

Form 10-Q  filed on Feb 08, 2024
28 pages scanned

Reference data

Company financials Q4 revenue 27.5M
Analyst estimates Q4 EPS missed by -75.00%
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