--- the subscriber area has no ads and those above are not selected or endorsed by this site ---


Xebec Investor Day schedule and Vodafone India moves ?6

09:16 23-Feb-22


Xebec has scheduled its first investor day to take place in Denver, Colorado on March 29th.  New leadership will provide its multi-year strategy for executing on the company's growth opportunities along with presentations on the details of individual product areas including hydrogen, renewable natural gas, carbon capture, industrial gases, and the Cleantech Service Network.  Although not specifically stated, I assumed this will take place at the UECompression facilities acquired back in November, and IR has confirmed.  They were also able to disclose that the fourth quarter report is tentatively scheduled for March 17th, which would be somewhat ahead of the typical schedule.  A formal announcement is typically made two weeks in advance.  Details on the state of manufacturing capacity expansion for the site will be announced then. 

I pointed out that Xebec is likely to show some ugly headline numbers when the succession was announced.  In the last report, I noted that the company had $61.9M of cash and restricted cash at quarter end, compared to $168.6M at the end of 2020.  Given the CapEx and economic environment, dilution is a significant concern.  However, if the company can avoid that, I think shares are dirt cheap and continue to be very positive on the growth prospects.  Thus, even though I don't necessarily like the sound of "multi-year", I am holding my shares in the company and considering attending the investor day in person.  Subscriber feedback on the point would be welcome.

Vodafone has also announced that it is selling its stake in Indus Towers to bolster Vodafone Idea's (Vi) balance sheet.  This comes after the company had some success in facing down India's ridiculous regulatory regime.  The last report showed some signs of turnaround for Vi, after it raised prices by over 60%, but the damage is done.   I'm glad that Vodafone is not investing any more of its capital from outside India into the country and recall that Google has already chosen to back Bharti Airtel instead.  This does little to affect my neutral to slightly bearish stance on VOD.