This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC0L0PD_M.jpg
Since Chairman and CEO Sandeep Mathrani joined in 2020, the company’s focus has been expense rightsizing, with over $1.5 billion eliminated so far.
The analysts believe the company can achieve profitability by late 2023/early 2024, which could accelerate given its flexible work station business model fits in the post-COVID world, highlighting the fact that desk utilization rates are now 63% vs. 45% at the COVID lows, while office overall is stuck at around 35%.
The brokerage expects GAAP EPS of ($2.31) for 2022, ($1.28) for 2023, and ($0.84) for 2024. FCF forecasts stand at ($910 million) for 2022, ($278 million) for 2023, and ($10 million) for 2024.
By Davit Kirakosyan
