Published Wed, 11 Jan 2017 12:04:35 -0500 on Seeking Alpha
So good to hear your voice again
Terraform Global (GLBL) finally announced results for 2015 as well as 1Q 2016 Monday January, 9. Given the fact that is now 1Q 2017 there was some obvious awkwardness on the call as GLBL management had to act like it was one year ago. Management did a good job of playing the part and gave away few details of recent events or anything beyond 1Q 2016 - I was surprised they didn't go as far as mentioning their thoughts on Trump's electability. The call itself was fairly brief though, especially given the rumors of a sale and lack of clarity on SunEdison's (SUNE) full impact.
Most importantly however the call brought good news - much as longtime investors in GLBL have suspected GLBL has continued humming along un-phased by its parent's misfortunes. Management remarked that the fleet remained strong and unimpaired (despite a few more public setbacks which GLBL recovered from nicely) and the management team remained intact. GLBL has done a good job setting themselves up to become a fully independent corporation adding additional board members who are notably independent and not just SunEdison cronies. While not a major point I was comforted in the remarkably low turnover that GLBL has had. In a highly commoditized sub-industry like yieldcos turnover can indicate insider's opinions of a company as good as any other indicator. Big name departures at GLBL have been few and far between.
GLBL is a cash and dividend machine.... Read more