I'm tempted on ETCC for a trade. As it could easily shoot back over $1. Assuming the markets aren't at the beginning of a nasty correction. But there's still so many questions about the $85M contract. The duration, any guaranteed minimums, etc. ETCC has struggled with profitability in the past. So I'm guessing they underbid everyone to land this large contract...will they even make any money on all this extra revenue?
I've been a ETCC($.67) buyer the past couple days...
As evidenced by the 6/9 PR, that big contract is now in backlog...and backlog is now $104M vs just $19M a year ago. More importantly, the company estimates that approximately 54% of the total backlog will be recognized as revenue over the next 12 months. This suggests FY24 revenues of at least $56M vs just $26M in FY23...
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