Cracking result, markets are timid if there is a small miss it will be beaten. I believe expectations on Earnings was supposed to be a bit higher then 44m. From what ive read, it was supposed to be tracking towards 46m but was a bit underwhelming.
However, the key thing for me in this report was to see if they can sustain a moderately high growth rate without stagnating revenues/profit. The blast dog contract gives me clarity that IMD revenue will be more reliable and I can sleep easier at night.
It was mentioned in the investor call in Q&A that July revenue growth for first month of FY23 was within the industry growth average of 5-15% from PCP. 1Q22 was 86.8m so with if this growth rate maintains its looking at between 358-392m rev. Analyst's assumptions stated FY23 would be around 356m. So if IMD maintain's July's number it is likely to see upgrades in analyst forecasts which already value it as a mid to high $2 stock.
Im confident this company will win in the move to an EV/green world with the good old picks and shovel approach
Good luck everyone i'm accumulating!
IMD Price at posting:
$1.96 Sentiment: Buy Disclosure: Held
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