Jul. 31 at 10:57 AM
$MAIR Raise guidance and nothing incremental drops to EBITDA?!? What a rookie mistake. The CFO, CEO, even anyone at Madison Industries itself including Larry Gies didn't catch this? Management can call it being "cautious" all they want, but there's an old saying about if it smells there's usually a reason. And now as a result, starting with Jeffries and RBC, analysts are taking
$10 chunks (huge!) out of their PTs. Wow, just wow. Financially sophomoric.