RE:Clearly timed "new short report" with zero new content... Mining_Dude wrote: .. and shares down another 8%. LOL.
I find these short reports fascinating. They keep repeating the same thing (the market reacts like its something new), then investors respond pointing out flaws, the short guys respond to the critiques by just reiterating what they're saying without any elaboration.
Cohodes: EIF has negative cashflow, borrwing to pay the dividend..
Normal Person: But you're clumping growth and maintanance capex together..
Cohodes: Growth capex is not a gaap term.. they have negative fcf, look at cashflow statement
Normal Person: if there's no growth capex, how come revenues and ebitda are rising and leverage metrics have remained stable since 2004?
Cohodes: EIF has negatiec FCF, borrowing to may a dividend.
... and the cycle repeatss...
Oh and I forgot to mention, any of Cohodes' that were clearly rebuked, he acts like he never said it in the first place..
- "Perimeter flights down 50% in May, Legacy airlines demand colapsing due to competition, will be disaster Q2".
-- Q2 legacy airline revenue up..
--- Cohodes response: silence.
- "Airplane values in nose dive, EIF will have writedowns"
-- He used a report focused on business jets to make this claim, a market completely different to EIF.
--- Cohodes response: silence.
I wonder what Cohodes will say about capex in Q3 when management has finished it's bombardier purchases and fleet checks in Q1/Q2 and has stated all capex will be notably less in H2.