Very much interpretation on my part but that was with lots of hours of going between annuals, Qs, etc… The size and scale of company just wasn’t there.
I’m getting kilt near term on this, getting an ulcer as it is my biggest position easilyr :). But just about all the bigs in the professional staffing space have been running to new highs while JOB has completely cleaned up their balance sheet and showing it’s best health since Dewan came on in 2015 and is hitting new lows inexplicably (well large tax loss seller without a big buyer may be the reason). The bigs are running higher off outlook more than earnings, although their earnings have been decent (say KFRC, RHI, ASGN for example). I listened to all of their calls and/or read them after the fact on seeking alpha.
I personally think revs will be $38-$40 mill this Q based on what other companies are reporting. But again I see this as a growth story moving forward, not a play the hype from CEO comments. The CEO said they’re running about at 2019 levels which was roughly $38 mill Qs. The comment about rivaling 2019 or other years leaves too much soft wiggle room for me to extrapolate a $45 mill Q. I don’t think he is misspeaking but think people are hearing what they want to hear from a very bullish CEO. I think the 10/10 bullishness comment could be more accurate from our perspective though looking forward. I think he is looking out going forward more than just the one Q which should be strong per his comments (again though I’m going with $38-$40 mill simply because he mentioned running at 2019 levels.
This big seller has broken my spirits but I’m certainly not backing away given what Ii think is substantial upside.
All IMO only. Good luck.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
