ALA's strategic plan is very sound Markets will respondMarkets will respond but only gradually to this excellent plan.
The quick look sugggests rathe rslow EBITDA growrth until one looks at the overall picture. I have finished their whole report on their website now and immediate EBITDA growth looks small after last years' which included transportation asset sales.... BUT 5-7% annual dividend growth is excellent. And a third terminal capacity to be developed via Ferndale expansion and debt lowering continuing etc and more flesh re future hydrogen and amonia development with RNG initial projects developing..
One of th emost important phrases is they "do not view dividends as inputs but outputs.
One of the things that got ALA in trouble before is that they looked at dividends as a fixed cost regardless of their output and now that ship has been righted ... and to expand growth without diluting shareholder value - all these are what institutional investors are looking for.. So 10% EPS growth out toward 2026 is excellent.
If share growth drops today it will be short term as their plan looks excellent to me AND while I did not see that $2.00 EPS figure I did see upper guidance of $1.95 and they have consistently outdelivered. I expect actual annula earnings of $2.00 very soon maybe this year and certainly overall by next. 28-30 look like reasonable one year targetsd to me. IMO GL John