NYSE:ALITProfessional Services
Alight (ALIT) Stock Sinks As Margin Pressure Drowns Out Cash Strength
Alight just gave investors a harsh sentiment check. The stock closed at US$14.43, down 16% on the day, after a year that had already seen double digit declines. Yet the headline from this quarter is not revenue; it is the profit squeeze. Adjusted EBITDA landed at US$92m on US$511m of revenue while the trailing twelve month numbers still show losses above US$2b. The market is trading the stock as if that profit pressure is all that matters and largely ignoring the cash and liquidity story that...