Q: Any reason why the stock is down 9% in a week?
5i Research Answer:
RCH missed 4Q earnings estimates (50c vs 53c expected) and this resulted in National Bank downgrading the stock. Sales of $453M were 2% higher than expected. Margins were reduced by expansion, but this also is setting up future growth. Disappointing results, but not a disaster. 10% growth is still expected in 2024.