2024-02-23 10:30:00 ET
Summary
- Mullen Group, a leading transportation services company in Canada, has doubled its share price and is in a strong financial position.
- The company reported stable operating income and net income in 2023, excluding non-recurring items.
- Mullen plans to invest in growth, refinance existing debt, and generate C$2.03B in revenue and C$325M in operating earnings in 2024.
Introduction
The last time I had a look at the Mullen Group Ltd. ( MTL:CA ) ( OTCPK:MLLGF ), a leading transportation services company in Canada. Back in the summer of 2020 [paywalled], I argued the company would survive the fallout of the COVID-19 pandemic after reporting a very robust second quarter of the year. Now, almost four years later, the share price has doubled, and the company is in very strong shape....
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Mullen Group: Attractive At 6x EBITDA And A 10% FCF Yield