Is Chapter 11 closer than we realize after today's earning release?
A few thoughts/comments -
- Earnings below even expectations
- Didn't address Goodwill impairment charges that are sure to come (whether it be Xerox brand or IT Savvy)
- Didn't address tariffs - Oh, they said low/no impact, which we all know is coming.
- Lexmark - doesn't address pending debt load and cost to service debt (which is outrageous and similar to what someone with sub par credit would get at a payday lending on the street corner next to the local Vape Shop and strip club).
- Didn't recast anything for full year projections (laughable)
- Did recast "revenue allocations" and moved more money to "IT". Hmmm....more accounting gymnastics to show the IT business is "Growing"?
90%+ of shareholders are Institutional investors. With this performance and recent cuts (with more sure to come) to the shareholder distributions, when do they all start dumping the stock , further accelerating the downward spiral and finalizing the plan for CH11?