Restate earnings lower by 4 cents (in the middle of the night !!) Does anyone have a clue in this company ?? Does the CEO know what organic growth is ?? Using BILLIONS of debt to buy companies ?? Overpaying for acquisitions to bolster bottom line ?? I am a VERY CONCERNED investor. CEO has shown a pattern of foolish acquisitions for billions of wasted $ (Can you say Matria ??) What's next ??
I'm not a Corporate finance guy-just an investor. What would Wall Street reaction had been if they announced a 1 cent miss on already lowered earnings expectations ? Thank god someone in finance botched the numbers !! I own some stock that I bought in '08 right before Matria deal. I think I paid mid 50's !!! Since then they have acquired many companies and are still selling at a 50% discount.
I am concerned about their balance sheet and extremely high level of debt. I have hung tough but CEO shows me nothing. I am concerned that next stop is $20