I think you are right. As far as backlog though CEO always says, backlog is xxx of which we will do $85 mil next year...so whether backlog is $270 mil or $180 mil looks like it does not make a big difference. What makes a difference is the quality of contracts/backlog...It seems some of the sales people had signed everything they could, backlog looked great, but results were not reflecting the backlog....Now they play it smart...that's why although backlog may be a bit less, EPS have gone much higher.
The growth has been impressive as of late for GV, and I believe it will continue. Backlog is down a bit sequentially for a few qtrs, but they still have $160M in backlog ! Also based on recent management comments, business continues to be strong, and I expect the backlog will be replenished. Target- $6
maybe GV takes out its old high of over $5. Certainly the fundamentals / valuation is much more compelling now than it was back then
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Oh my goodness, GV issued a press release in between earnings, thats a miracle in itself!! Maybe the no news in between releases is going to let up a bit!! Looks like good news as they are positioning themselves for future growth.
This then is a bullish move As I understand your view, Davis is being focused upon business growth in a time of opportunity, something at which he excels. Jones is a steady hand, and more managerial expertise is being sought to further built a leadership team for an expanding organization.
Mr. Davis started the foundation business at SEP and later served as COO under Mr. Jones. The foundation business already contracts foundations for competitors. My take is that with all the large transmission lines starting next year, Mr. Davis will spearhead the expansion of the business. His bonus will be 6% of pretax profits.
Mr. Jones has done it all in his long career and will be a steady hand at the helm. PCA is getting so big, I'll guess they will go for a MBA type to head it and have the engineers as VP's. rr
This change is curious. I note that there is a search for a replacement head of PCA.
PCA has two subsidiaries SEP and C&C.
In 2013 Davis was made President of PCA and SEP; now he is Exec. VP of PCA and responsible for C&C and a part of SEP while Davis is interim President of PCA and SEP. Jesse Colley was (is?) President of C&C.
Is this like the Chicago Bulls with a young Michael Jordan progressing to the playoffs under Coach Doug Collins and the owners then changing manager’s to Phil Jackson to build on that success and take it up yet another level?
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(Marketwired - June 16, 2016) - The Goldfield Corporation (NYSE MKT: GV) ("Goldfield") announced today that, as a result of strong growth in electrical construction in recent years, the Company has reallocated responsibilities for its electrical construction operations to better serve future growth. John W. Davis III, has been appointed executive vice-president of Power Corporation of America ("PCA") and will be primarily responsible for C and C Power Line, Inc., the Company's union electrical construction operations, and the foundation construction operations of Southeast Power Corporation ("SEP"). Robert L. Jones, former president of SEP, has been appointed interim President of PCA and SEP. Goldfield will be conducting a search for a permanent replacement for the positions assumed by Mr. Jones.
Mr. John H. Sottile, President and Chief Executive Officer of Goldfield, commented that, "Mr. Davis led electrical construction to record growth and profits." Mr. Sottile added, "The new breadth of our electrical construction operations requires reallocation of management operating responsibilities."
It was, but there is a big difference between more informative about the business and making misleading statements as they had done about the TX write-offs. If they had done a better job a year ago explaining what was going on, maybe there wouldn't have been such a "panic" that drove the stock down over 50%.
might be trapped. We can see the short volume, but don't know how many BTC orders have reduced the amount.
Longs: don't sell.
Shorts: Never short a $6 stock when its trading at $3.00