Q: Can I have your comments on PNG's earnings please
5i Research Answer:
EPS of (nil) missed estimates; revenue of $16.1M missed estimates of $21.88M. EBITDA of $2.8M missed estimates of $4.02M. Guidance was affirmed, but had already been previously confirmed as well. All metrics fell from last year, but the company notes that business is set to accelerate over the balance of the year. Recent contract wins add some visibility to this. Optically, results look bad but investors should largely be looking forward here and we would not expect a big stock hit. The company notes the level of defense activity is at levels 'not seen in decades'.