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Erickson Incorporated Message Board

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  • Reply to

    Deutche Bank Conference Presentation

    by rdravin Oct 5, 2014 10:32 AM

    Aircranes are unique and lucrative theyve only appreciated over time, only 35 flying in world. Evergreen has few unique aircraft, few that are are unsupported. Most of Evergreen fleet is very run of the mill ordinary helicopter company aircraft. Evergreen will never integrate and money has been spent, i'd expect bankruptcy in 2015 if current path continues.

  • I listened to the webcast of the Sep 30 Deutche Bank presentation by EAC.

    I lot of talk about business efforts throughout world. Decline of military spending in Afghanistan hurt. Current decline in Oil E&P will hurt. Expansion in firefighting, Latin America oil, utility construction will help. China contracts are a distant hope, but any news would be nice positive.

    The most negative aspect of the presentation was financials. There was barely any talk about disappointing performance in 2014. Revenues 350-370m. Nothing about 2015 projections. Nothing much about merger integration and synergies with Evergreen acquisition.

    Book is $12. NAV is $20. Apparently, helicopters don't depreciate very quickly.

    Bottom line: I believe downgrade by Stiefel following presentation was justified. If macro environment, including oil, deteriorates, EAC may not rebound much in 2015.

    Sentiment: Hold

  • like they told us in the prior earnings conference call they just mortgaged one they already had.

    Solid

  • you invested in a company leveraged to the hilt, zero money in the bank. This company will never have positive earnings in its current configuration until they drop assets like Evergreen. Your money is gone until that happens and it probably wont, the management is playing with other peoples money primarily yours and they wont stop til they run this thing into the ground. You'll be lucky to get pennies in bankruptcy if you hang onto your shares

  • for this bummer, also very excited to learn how the new crane they discussed building in last quarters conference call is coming along

EAC
13.97-0.50(-3.46%)9:35 AMEDT

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