So many things stacked against them this quarter! And operating cash flow was still positive. This makes it obvious that negative cash flow is a thing of the past. Look at everything that was going against us this quarter:
1.) Neal lost 38 days (more than 40% of days in the quarter) due to turbine upgrades.
2.) Most PPAs specify lower rates during two months out of this quarter.
3.) Since it's hot during this time of year the temperature differential between ambient and fluid is reduced...this reduces plant efficiency. You can't fight mother nature.
In spite of all that the company STILL generated positive cash flow. Amazing. This company has truly turned the corner.
The best part is when you look at plant expenses and sales. Basically sales were down due to the things mentioned above, but obviously the first order impact is missing 40% of available days working on plant upgrades. That ADDS expenses and REDUCES sales.
With normal utilization during the quarter HTM conservatively would have generated over 2MM in operating cash flow.
During what is seasonally their weakest quarter. Oh heck yeah!