Q: Hi 5i!
Can you comment CIA earnings?
How do you consider evaluation to initiate a position?
Thanks!
Frank
Can you comment CIA earnings?
How do you consider evaluation to initiate a position?
Thanks!
Frank
5i Research Answer:
CIA reported revenues of $297.2 mln vs $266.2 mln expected. EPS came in at $0.04, below estimates at $0.11. Production for the quarter was at a record for the company and they have stockpiled some inventory due to disruptions from the forest fires limitting their ability to move the inventory. They should be able to move it in the coming quarters. This impacted volume sold and pricing was down a bit as well, impacting the quarter. A lot of the issues were one of items, outside of the companies control and otherwise, the quarter looked fine. At 10X forward earnings and with the forest fire issue now seemingly behind the company, we think CIA is looking better.