IT Tech Packaging Inc Up 6.47% To $0.27 After Earnings

IT Tech Packaging Inc (ITP) reported less than expected earnings this afternoon for Q4 2023.

The company reported an EPS loss of $0.40 per share. The firm reported an EPS loss of $1.19 per share in the year-ago quarter. The increase in IT Tech Packaging Inc's annual growth rate represents how the business is performing well amid recent economic conditions.

IT Tech Packaging Inc Q4 2023 revenue came in at $21 million. The company achieved negative 2% growth year-over-year compared to the firm's revenue of $21.4 million from the year-ago quarter. The higher earnings growth relative to revenue signals IT Tech Packaging Inc has improved its profit margin.

The stock is up 6.47% to $0.27 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Trading in the five days leading up to the report earned IT Tech Packaging Inc a Bearish Sentiment Rank from InvestorsObserver.

IT Tech Packaging Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 11, putting IT Tech Packaging Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.2 on February 2, 2024 and set a 52-week high on July 13, 2023 at $0.65.

IT Tech Packaging Inc is a holding company engaged in the business of paper manufacturing in China. The company operates as a producer and distributor of paper products. It involves in production and distribution of three categories of paper products: packing paper (corrugating medium paper), offset printing paper, and tissue paper products. It also produces digital photo paper. Its business is structured into two segments Dongfang Paper which produces offset printing paper and corrugating medium paper; and Baoding Shengde which produces digital photo paper.