- Stock slides to new all-time lows following weaker-than-expected fourth quarter results and an embarrassing management performance on the conference call.
- CEO Emanuele Lauro has a history of strategic missteps and lacks expertise in offshore wind.
- Profitability continues to be pressured by elevated operating expense levels.
- Near-term business prospects remain muted with an inflection point for demand not expected before 2024/2025.
- While shares are trading at bargain levels, only the most speculative investors should be buying into Eneti at this point as the company remains an ultra-high risk/high-reward play.
For further details see:
Eneti: New All-Time Lows After Weak Q4 Results And Conference Call