With you on CVU. Stock has gotten hit hard in recent months. And could fall further on tax loss selling. I own a few and will be adding on weakness.
Aerospace sector is booming...leave it to this management team to find a way to muck things up. As you noted, last quarter was lousy. Gross margins were terrible. But it sounds like they had problems with supply chain issues...that have since been resolved? Let's hope. This was the commentary in the earnings PR last week-
“During the third quarter, we continued to execute on our plan to strengthen our balance sheet and build shareholder value. However, supply chain technical challenges negatively impacted our throughput and gross profit during the quarter. In addition, our year-over-year comparison was difficult given that the prior year’s third quarter benefited from a favorable mix. Nevertheless, our nine month revenue was up 6.3% and gross profit up 4.4% over prior year,” said Dorith Hakim, President and CEO.
“We continued to use cash flow from operations and paid off our term loan in full, reducing total debt by $2.8 million over prior year. We remain confident in our long-term outlook based on the corrective actions implemented in our supply chain, the increase in our funded backlog and our total backlog of $503 million as of September 30, 2023.”
Won't hold my breath but the stock has plenty of upside potential IF they get back on track. Could easily see the $3's or $4's again. In the meantime, we should continue to hear about small orders like this one today-
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