2024-03-14 06:32:10 ET
Summary
- MPZZF's Q4 figures disappointed the market, causing a drop in share price.
- The company has a strong operational and financial track record but faces headwinds due to global fleet growth and an uncertain market outlook.
- MPZZF's leverage is low and it has no significant maturities until 2027, but there are risks associated with trading in a small stock listed in an illiquid currency.
Investment Thesis
On February 27, 2024, MPZZF released its Q4 figures. It reported Q4 revenues of $153 million and EBITDA of $94 million. The market did not like these numbers, and its 2024 guidance sent the share price down almost 11 percent from its close on February 26. This article updates my previous article on ((MPZZF)), written on November 28, 2023. In that article, I argued that its recent price drop provided an attractive pricing point for investors but warned that 2024 and onwards were likely to bring lower yields....
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