The stock tanked because CIBC #$%$ all over it on Friday. JE is a thinly traded stock and it doesnt take a lot to push it around. Another problem is they have very little serious research coverage, so when CIBC or RBC say something about it, it matters to the price of the stock, whether you agree of disagree with them or not. CIBC hates this stock and has a sell rating on it with a $7 target price (up from $6.85), so the analyst used the "opportunity" of earnings to talk about the stock and reiterate his negative thesis to the street. That's how it's done.
It probably had something to do with it.
In the conference call question section, that loss number is brought up.
The loss is irrelevant as it was caused by Mark to Market adjustments do to commodity prices.
They said in the past, and repeated this time in the CC that 26% margins are needed to meet stated goals.
They say that next two quarters will be at about 25%. This is due to tightening of standards for new contracts that can be losers if extreme heat affects pricing of electricity. They still guide for $220 million as before.
Read the CC. It is transcripted and can be found under the headline tab.