Tuesday, April 23, 2024 10:12:16 PM
I'd guess there's also worry about the missed deadlines with regards to the Wal-Mart tool and the extrusion pallet line. Maybe some other worries about the new CFO leaving only after 9 months....I'm surprised there wasn't a question about that on the call.
My feeling is that the market is in show-me mode. I'm happy to hold though, as margins are still 19% for the year, and the other issues are presumably just speed bumps. I'm guessing the pipeline is still filled with the opportunities that Kruger was talking about on the Q2 call.
$4.25 million of sales for a single distribution center is also not too shabby....Wal-Mart has 210 of those things in the US.
If they're serious about buying back stock, this selloff is actually a good thing.
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