Quarterly ResultMay 15, 2026, 04:49 PM
Wetouch Q1 Net Income +50.9% to $3.87M; Revenue +6.7%
AI Summary
Wetouch Technology Inc. reported strong financial results for Q1 2026, with net income increasing by 50.9% to $3.87 million and revenues growing by 6.7% to $16.31 million. Basic EPS rose to $0.32. The company's new facility construction continues to face delays, now expected to be completed by mid-2027.
Key Highlights
- Net income increased by 50.9% to $3,866,306 for Q1 2026, up from $2,562,722 in Q1 2025.
- Revenues grew by 6.7% to $16,312,169 in Q1 2026, compared to $15,289,578 in Q1 2025.
- Basic earnings per share (EPS) rose to $0.32 in Q1 2026 from $0.21 in Q1 2025.
- Income from operations increased by 28.0% to $5,086,344 for the three months ended March 31, 2026.
- Total assets increased to $147,289,706 as of March 31, 2026, from $140,637,048 at December 31, 2025.
- Cash and cash equivalents increased to $120,518,189 as of March 31, 2026.
- Net cash provided by operating activities decreased by 74.5% to $519,501 in Q1 2026.
- New facility construction completion is now estimated for the first half of 2027, with production by end of 2027.
Price Impact
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