The whole sector has been a disaster as sales growth was nowhere near expectations, companies simply could not generate cash flow and valuations had been bid up too high in the bubble. AYR.A's problem is/was largely debt. It has close to $600M in obligations (including leases) and has not generated positive cash flow since 2019. Sales growth is OK, but it is unprofitable and is expected to be so for some time still. Interest expenses were $31M last year, nearly half its current market cap. We would see it as a sell due to its high financial risk.
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