Listened to most of the call, they seem positive on q2 and forward, Bauma was very good and their products were well received, looks like Cranes and AWP will have to carry MHPS and Construction. This should be in the mid 30's.......40's by end of the year if they hit their guidance......bought my final 500 shs, back to 2500 shs, will sell 500 when we hit 40.....
lol I am out of the stock. MHPS is the reason. I am very unhappy about the execution there. They make over $3 a share this year if they didn't buy Douchebag Cranes. I was pretty unhappy with the color provided on MHPS. I don't have much confidence in the guidance anyways now. Like they basically admitted they won't come close to hitting their MHPS and construction guidance. And said they are being conservative on AWP, and Cranes. So they may hit their guidance if this is the case
However the losses at MHPS is just not healthy. And the $1.2 billion tag for Demag isn't sitting right with me.
I mentioned on April 17 " MHPS and construction have been worse. MP has been the same. MHPS is the only thing that makes me a little nervous since its a big integration and so far the company hasn't been doing well as I would have hoped."
I am super unhappy they wasted $1.2 B on Demag. At the time at best I thought Demag was worth $1.2 billion now I think its worth like $400 million. Perhaps they will execute but I would rather be on the sidelines with a Demag restructuring. Since Demag essentially even without amortization essentially wiped out all the profits of crane. Next quarter is a $50M restructuring and I am just not as confident in that as I would be in others since their execution has been so poor in it.
I feel like the demag guys jumped ship when Tex bought it. Thats what it looked like when their CFO quit.
I still love TEX and have a model compact construction vehicle in my house but as of right now I would rather be long something else. I have dropped my valuation to $32.