Q: Any reason for the dramatic price drop today?
Jerry
Jerry
5i Research Answer:
CPX reported Q2 earnings. EPS was -92c versus estimatate of +46c. Revenue of $407M missed estimates of $614.4M. EBITDA of $322M matched estimates. The loss largely relates to its big recent acquisition. Revenue showed a big year over year decline. The stock fell largely on the miss but also as the company upped its capital spending plans. 2025's capital budget rose more than $20M and this worried investors because of the potential for added expenses from the acquisition. With some new investors from the April financing, some were clearly disappointed in the news.