RE:RE:What D&G did"two LOIs grossly overdue"
Hoyt only took over PHM just over one month ago. He's had to settle into his new position and tour the company to fully develop his understanding. He's had to develop his go-forward strategy and prioritize the acquisitions with his team. They are renegotiating the acqusiitions for cash and that involves a process. They are developing other acquisition targets too. Hoyt has also had to integrate the Sleep Management acquisition with PHM which results in a doubling of the company in terms of EBITDA. That alone can take 1-2 months. They've also idenified further cross-selling opportunities to work on. You don't want three sizable acqusitions in the same month given the complexities of integrating operationally and accounting systems, etc. He's set the target of year-end for reaching the 200 million run-rate not within one month of him taking over the company. Given the falling market values now as stocks crash cash is also king. We may be increasingly in a buyers market. Given PHM's cash and unused debt capacity PHM is favorably positioned to acquire assets more cheaply and this can alter the deal landscape as some may prefer a deal now. The political cycle may also create buying opportunities for PHMas some may see uncertainty ahead.