Buy Covia When There's Blood In The Streets [Seeking Alpha]
COVIA HOLDINGS CORP (CVIA)
Last covia holdings corp earnings: 3/10 06:00 am
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Source: Seeking Alpha
Summary Covia ( CVIA ) reported revenues of $508.4 million and net income of $17.1 million, which were negatively impacted by plant start-up costs and other merger related expenses. Cash flow statements and traditional financial metrics are difficult to use to identify any trends, since the company is new. But, CVIA's revenues and net income, when combined with their balance sheet (below), show a clearer picture of the company's financial status. Source: E*TRADE As investors can see, Covia has more than twice as many assets as liabilities, which indicates a strong bill of health for the company. Total debt only stands at $417 million, but should be paid down expeditiously as long as CVIA can continue to earn $500 million per quarter, which they should since most volumes are contracted for years out. To get to the heart of the matter, CVIA raised prices 2% in the previous quarter but indicated that pricing would fall $6-$8 dollars in the third quarter due to supp
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