Mark Pickell @pickell_mark

L/S equities, RE development & distressed debt. Past RE advisor to GS, MS, Apollo, BAC & more. Following Philadelphia & Rutgers sports. Pasadena, CA Joined December 2017

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Mark Pickell @pickell_mark

2 months ago

Too pessimistic imo. Somewhat likely $MATR.TO beats 1250/163 for ‘25. 641 rev so far & assume 3q “moderate” decline means 3-4% lower ~307-310. Hope flat or better 4q. 89 adj ebitda so far with 14 MEO headwind. Sub-12 2h ebitda margin gets you to 163 and I think they do better.

Juhani Mak @Juhani_Mak

2 months ago

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