SIEGY - Between Soft Guidance Erratic Orders And Flat Margins It's Tough To Love Wartsila
I liked Finland’s Wartsila (OTCPK:WRTBF) (WRT1V.HE) back in late 2016, and for about two years that call worked, as the company benefited from an improved mix in its Marine Solutions business and good order momentum driven by the need for commercial shippers to install scrubbers ahead of IMO2020 pollution regulations. What hasn’t been so good, though, is progress on margins, with the company’s cost-cutting efforts offset by increased price competition in its business — a particularly disappointing development given generally good share — and a less profitable revenue mix.
This year (2019)