A polite jewel from the lips of the CFO in the transcript.
"While GAAP income is not particularly relevant,......."
It's a sorry state the accounting eggheads have created when the cfo of a publicly traded company says gaap income of her company is not relevant. I've been saying it for years, but not as politely.
As a retired CPA with 46 years experience, I agree completely. The nice thing as a NRF investor is that Hamo knows how to use the GAAP rules to our advantage.
...but it does help us get a tax deferred distribution instead of a non-qualifying dividend.
Sentiment: Strong Buy