Maybe I’m too negative, but MRT does not need to be buying back stock. Adding additional leverage on the company’s balance sheet will only limit the duration the company has to navigate the current cycle. Increased leverage removes operating flexibility at a time when operating flexibility is a premium. It is important to note that MRT’s EBIT has declined over 25% over the past 12-months.
It’s amazing to think that news like this is still possible!
- Even with a significant decline in capital spending MRT is not generating any free cash flow.