GREY:XEBEQ - Post by User
Post by
TeamEddieon Mar 16, 2021 3:34pm
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Post# 32809586
25th may get worse
25th may get worseFirstly, it’s highly likely, in our view, more writedowns are taken on the 10-12 unprofitable RNG projects (it’s very hard to capture all unknown costs on the first pass). Secondly, management expects flat RNG revenue in 2021 while the rest of the industry posts double-digit growth, auguring for a lower valuation. Thirdly, 2020 featured multiple guidance reductions from management, and it will now take time to reestablish creditability with investors, in our view. The company’s saving grace is $100-million of net cash.”