Greenhill Has Flexibility to Do Some Re-Engineering
Greenhill reported weak third-quarter results, but management commentary signaled that it will try a couple of different paths to drive value out of the recently announced recapitalization. The company reported a loss of $5.9 million, or $0.18 per share, on $48 million of revenue. Revenue was 37% lower than the previous year and the lowest quarterly revenue since the first quarter of 2014. This was to be expected, as the company’s pipeline of acquisition deals was light. We are maintaining our $...
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