IT Tech Packaging Q2 revenue down 12.6% to $26.25M; net loss narrows to $0.08M

IT TECH PACKAGING, INC.

2024-Q2 EPS reported -$0.38 revenue$33,113,629

Q2 2024 revenue $26.25M (-12.6% YoY); net loss of $0.08M ($0.01 loss per share) vs $1.25M loss.
Gross margin improved to 12.44% from 3.93% in Q2 2023, driven by lower costs and product mix.
EBITDA $3.93M vs $2.83M; operating income turned positive at $0.55M vs loss of $0.52M.
Production of offset printing paper, tissue paper, and face masks remained suspended in Q2 2024.
Cash $5.14M; working capital improved to $10.51M from $6.94M at Dec 31, 2023.

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