Hopefully Fast has taken the lesson from Q3 to heart – which is don’t announce X in the Intra-Quarter preso, and then 50% of X in the actual results, only 2 weeks later.
Really not much of interest here, at least not in the form of gussied up quotes from phantom Disney employees. But, what’s there, certainly isn’t heartwarming to investors.
Slide 23 (Q4 Directions) guides to a EBIT loss of up to $20 millon … over 2x as big as average analyst expectations. EBITDA any better? Fast is guiding to up to 6x larger a loss than analyst expectations.
Slide 22 (the nicely termed “Other Items”) paints a pretty bad picture with respect to Ezmo. Fast’s $5.8 million investment is going to impact Q4, and they’re “actively looking for partners/co-investors” to bail them out.
I think it might be time for an intervention before we hit rock bottom.