Feb. 24 at 12:32 PM
$VVX one thing worth pointing out is because they beat their annual guidance (EBITDA 323 vs 313 guide, EPS
$5.24 vs 4.65 original guide, 4.95 latest) they likely beat their performance targets meaningfully and will get decent bonuses this year and the stock portion is granted in March (last year was March 8). So there is an incentive, as with many public companies, to 'sandbag' the guidance because 1) you want to give the board a beatable bar for the year and 2) you don't want the stock to rocket up before you get your shares and 3) you control a catalyst path via guidance raises for the stock to rise once you do have your shares
The guide is for a 340k increase to the share count (last year they issued ~280k PSU and RSU)
This is all great - I want a well incentivized management team and achievable goals they can beat. Bu it does explain their seemingly extreme conservatism on the amount of T-6 revenue they will earn as well as essentially guiding zero new wins that convert to revenue
