BWX -1.03%: this morning BWX released FY20 results alongside an equity raise of up to $50m. Overall the company has achieved the midpoint of guidance range (strong effort) and provided FY21 preliminary guidance of 10% EBITDA and revenue growth in FY21, which is mid to high single digits light on consensus. This is all occurring at a material premium to the market and with FY23 seeing earnings likely higher thanks to a new manufacturing facility. This has been a challenging business for a while, however it’s one in turnaround phase. One for the hit list!
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