The earnings report was not bad considering the situation
They managed to exit the quarter with a solid balance sheet which allows them to move forward without significant impact of the China debacle. This stock needs a Warren Buffet takeover. It is a near perfect match for Berkshire Hathaway because it is a very basic, very necessary, very easily understood business with nightmare management (niave management who has zero knowledge of world negotiations).
I'm sorry but this would not meet Warren Buffett's requirements of: strong and consistent past earnings, strong current management, wide moats, etc. He also does not want turnaround situations, etc. In short, this is damaged goods and he does not want that.
"If you buy a stock at a sufficiently low price, there will usually be some hiccup in the fortunes of the business that gives you a chance to unload at a decent profit, even though the long-term performance of the business may be terrible.
I call this the "cigar butt" approach to investing.
"A cigar butt found on the street that has only one puff left in it may not offer much of a smoke, but the "bargain purchase" will make that puff all profit."
Actually Warren Buffet has a special knack for buying companies in businesses like this with bad management. An example is when he bought Fruit of the Loom apparel company and lifted that management basket case back into a worldwide wonder. CTB would meet Buffet's criteria.