- EDUC's UBAM consultant count continues to fall, and is possibly much lower than the company's own recent disclosure.
- Recent comments by the company’s CEO and Chairman cause us to question the honesty of senior leadership.
- The company's inventory is bloated and completely misaligned with realistic sales expectations.
- A peculiar split between current and non-current inventory, along with an unrealistically low inventory valuation allowance suggests the risk of a big provision which would whack earnings.
For further details see:
Educational Development Corp. And Bloated Inventories: Tulsa, We Have A Problem