IT Tech Packaging Q4 net loss $3.98M, revenue $20.96M down 1.91% YoY

IT TECH PACKAGING, INC.

Q4 revenue $20.96M (-1.91% YoY); net loss narrowed to $3.98M ($0.40 EPS loss) from $11.91M ($1.19 EPS loss) in Q4 2022.
Q4 gross margin collapsed to 1.19% from 4.80%; CMP volume rose to 56,805 tonnes but ASP fell to $360/tonne from $410.
Q4 operating loss widened to $3.80M from $0.49M; SG&A surged 123% to $3.38M.
FY 2023 revenue $86.55M, gross profit $1.00M; management expects plastic-restriction orders to boost packaging paper demand.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IT TECH PACKAGING, INC. reported financial results for the fourth quarter and audited financial results for the fiscal year ended December 31, 2023.

Period: the fourth quarter and audited financial results for the fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

issued a press release announcing its unaudited financial results for the fourth quarter and audited financial results for the fiscal year ending December 31, 2023

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IT TECH PACKAGING, INC. filing history →

Source: SEC EDGAR

accession 0001213900-24-027231

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