Post by
retiredcf on Mar 13, 2023 8:03am
Another Assessment
EPS of -1.2c missed estimates of -0.007c. Revenue of $16.97M missed estimates of $20.17M. EBITDA was -$2M vs an expected $352K. Revenue rose 29% for the year but was flat for the 4Q. Backlog is $27.7M. Cash is $21M or more than 1/3rd of market cap. GRN also announced a new $7.2M contract which will add to the backlog. GRN has had some headwinds; lower California fuel-standard credit prices, and a decline in dairy-derived RNG, as well as inflation pressures. These may abate in the second half of 2023, though the inflation reduction act in the US may curtail pricing moves. Most sales are in the US. The stock continues to be weak but we would say the outlook for recovery is 'reasonable' and the cash position adds a bit of comfort to a small cap name. (5iResearch)