Still a sad situation for E's InvesrtorsHere are a few comments regarding 2019 results:
- revenue is down, that darn wet summer! Every year we get a new story explaining under achievements.
- margins were retained, ho hum, we were promised cost containment, I guess keeping costs consistent can be interpreted as containment, fail
- debt is up 4.5M, 2.2M on the line of credit, WOW, also no new financing agreement in place, a huge risk premium!!!
- they purchased 5.3M in new assets, perhaps a press release telling what these assets are and projected revenues would help investors and shareholders see how Enterprises corporate mandate is being realized. Although the market cap is about 5.5M darn close to the purchase price of the new assets, the company realized a loss of 860K on proceeds 1.033M, kinds make you wonder about the real value of Enterprises old/aging assets and the company’s amortization policies. Seriously for more than 4 years we have been told by management that the market cap doesn't accurately reflect the "true" or "real' value of the assets, well when such large losses are realized it kind of does.
- EBITDA, is no longer a relevant measure now that Enterprise is solely a rental company, the cost to replace revenue generating assets is a real cost and has to be considered.
I welcome all my new friends to challenge and debate these points!