They just reported what appear to be good results. Please give me your opinion especially in regards to 2024. Is there anything that looks like a "red-flag"? Thanks as usual...
BDI reported EPS of 13c beating estimates of 8c for the fourth quarter. Revenue also beat estimates of $92.92M coming in at $103.4M and grew 16% year-over-year. Funds from operations (FFO) was $30.1M ($0.50 per share), up from $21M ($0.35 per share), a year earlier. Adjusted EBITDA for the quarter was $26.1M, up from $22M a year ago. BDI stated the following, "We believe the outlook for 2024 remains constructive and is supported by a strong sales and opportunity pipeline in both MSS and WFS, with LodgeLink expected to continue on its path of rapid scaling." We think these are good results, displaying positive momentum heading in to 2024. The only red flags we see for BDI are the company's high debt levels with a debt-to-equity ratio at 0.7x, but this has been declining nicely over time.