Q: Can you give your impression of the earnings report for NPI yesterday? I was disappointed in the numbers- is it worth keeping? I know it has a good yield, but do you see any meaningful growth in the near future?
5i Research Answer:
EPS missed estimates by 1.4%. Revenue missed by 1.10%. EBITDA missed by a small fraction. Sales fell 8.7%. Offshore wind was fairly weak. But net income swung to a profit, from a loss last year. Guidance was maintained, and its growth plan into 2027 was affirmed. The stock is very cheap, with a good dividend, and we would comfortable holding. 2025 growth may be a bit muted, with accelerated growth predicted in 2026.