Opal Fuels Says Believes It Is "Prudent" To Delay Completion Of Pending ITC Sales Transactions Until Issues Are Clarified; Due To Delay In Completion Of Pending ITC Sales Transactions, Co Removing Anticipated ITC Proceeds From Its FY Adj EBITDA Guidance
Portfolio Pulse from Benzinga Newsdesk
Opal Fuels has decided to delay the completion of pending ITC sales transactions, citing the need for clarification on certain issues. As a result of this delay, the company is removing the anticipated ITC proceeds from its fiscal year adjusted EBITDA guidance, according to a recent SEC filing.
November 22, 2023 | 2:55 pm
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Opal Fuels' decision to delay ITC sales transactions and remove anticipated ITC proceeds from its FY adjusted EBITDA guidance may negatively impact investor sentiment and the company's stock price in the short term.
The delay in ITC sales transactions suggests potential uncertainty or issues that need to be resolved, which can be perceived negatively by investors. Removing anticipated proceeds from the EBITDA guidance could lower expectations for the company's financial performance, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100