Horizon North reported 2Q16 revenue of $53 mm, above our estimate of $49 mm. The Company reported EBITDAS of $4 mm for the quarter exceeding our estimate of $2 mm. Horizon North does not appear to be undergoing the same pricing pressure as Black Diamond Group Limited. We would attribute this difference to the fact that HNL experienced significant pricing pressure in 2014 and 2015, whereas Black Diamond’s pricing had a greater level of protection due to certain contracts in place. Our es
15 Aug 2016
Outlook Unchanged
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Outlook Unchanged
- Published:
15 Aug 2016 -
Author:
Ian B. Gillies -
Pages:
6
Horizon North reported 2Q16 revenue of $53 mm, above our estimate of $49 mm. The Company reported EBITDAS of $4 mm for the quarter exceeding our estimate of $2 mm. Horizon North does not appear to be undergoing the same pricing pressure as Black Diamond Group Limited. We would attribute this difference to the fact that HNL experienced significant pricing pressure in 2014 and 2015, whereas Black Diamond’s pricing had a greater level of protection due to certain contracts in place. Our es