Excellent post!
Agreed about the effect on MYR balance sheet and leverage but looking at the chart and the fact it's been known for so long it's hard to imagine it's not priced in already.
Of course I may well be wrong which would hardly be the first time, especially on MYR whom I've been roasted pretty well on, I've called it wrong on this one constantly for the last few years.
I know you didn't mention those other companies but my point in bringing those in is they are all carrying substantial debt unlike MYR and they all carry substantial lease obligations.
For many other companies this change is not being priced in IMO whereas I've read about the effect of this on MYR for more than a year now.
At the end of the day it would completely shut off the debt market to MYR which quite frankly would likely be a good thing with their track record of wasting capital.
MYR Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
(20min delay)