![[NEW+Free] Cliff Note #143 - TPC: The 130-Year-Old Infrastructure Co With 2026-2027 Earnings Already in the Bag + Free Data...](/cdn-cgi/image/width=1200,quality=75,format=auto,fit=cover/https://substackcdn.com/image/fetch/$s_!vD14!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F063eafec-fa90-4003-8987-7401ddb62ff2_512x512.png)
[NEW+Free] Cliff Note #143 - TPC: The 130-Year-Old Infrastructure Co With 2026-2027 Earnings Already in the Bag + Free Data...
Tutor Perini Corp (TPC), a 130‑year‑old U.S. heavy‑civil builder, has secured nine megaprojects worth roughly $16 billion, expanding its $19.8 billion backlog to 3.5× trailing revenue. Management’s 2026 guidance projects adjusted EPS of $4.90‑$5.30, with earnings largely contracted and margins improving across civil, building and specialty‑contractor segments. Insider buying, a strong cash position and a planned senior‑note refinance at a 6% coupon add financial flexibility. A nascent data‑center construction opportunity could further lift valuation if disclosed later this year.
Weekly Update #14 - Week Ending 05/10/26
Flotek (FTK) reported Q1 2026 revenue of $70.1 million, a 27% YoY rise, driven by a 295% surge in its Data Analytics segment, which now contributes 50% of gross profit. Power Tech’s three‑year backlog tops $90 million and includes a 200 MW pipeline...
Weekly Stat Review: Weekly Winners, Losers and 52W Highs and Lows
Maj introduced a new Weekly Stat Review that will be published every Friday, featuring the top weekly winners, losers, and 52‑week highs and lows from his micro‑cap quality index platform. The tables pull from a curated universe built on a...
Research Pipeline Session #19 : A Cash-Rich Industrial Quietly Pivoting Toward AI
The unnamed industrial micro‑cap has posted a dramatic earnings turnaround, with EBITDA margins expanding roughly 600 basis points and adjusted earnings per share nearly tripling in the last quarter. Its balance sheet now holds about $200 million of net cash and...
Research Pipeline Session #18: A Risky Special Situation With A Value + Growth Anchor
A new research note highlights a small‑cap special situation where the company’s balance‑sheet assets appear worth more than its current market price. The discrepancy stems from assets being recorded at historic rather than market values, creating a hidden valuation gap....
Research Pipeline Session #17: A Boring AI Stock That's Building Hyperscaler Data Centers
Investors chasing AI exposure typically buy chips, hyperscalers, or power‑related stocks, but a small‑cap construction contractor is quietly building the foundations for dozens of hyperscaler data centers. The company has just turned profitable after two years of losses and boasts...
Weekly Update #12 - Week Ending 04/26/26
Biorem (BRM.V/BIRMF) posted Q4 sales of $16.9 million, a backlog of $65.3 million and EPS of $0.16, positioning the air‑pollution control firm for a forward P/E re‑rating from 10.5x toward 15‑20x. Travelzoo (TZOO) reported modest Q1 revenue growth but its stock surged...
[NEW] Cliff Note #140: From Bust to Boom: A Founder-Led Microcap Riding the Inventory Unwind
The European distribution sector experienced a four‑year boom‑bust cycle, with distributors over‑ordering during COVID, then halting purchases as inventory piled up to 6‑12 months. A leading European player succumbed to creditors in 2024 after a €100 million (≈$108 million) loss, and peers...
Half of US Data Centers Are Being Cancelled. Except They're Not.
A recent ZeroHedge headline claimed half of U.S. data centers slated for 2026 would be cancelled or delayed, but the underlying Sightline Climate outlook only predicts 30‑50% of projects will face typical construction delays. The article conflates delays with cancellations,...
Weekly Update #11 - Week Ending 04/19/26
Medexus Pharmaceuticals reported that 56 U.S. transplant centers (31% of the market) now carry its GRAFAPEX drug, up from 46 in December, and the company still targets more than $100 million in peak annual revenue, which would halve its forward P/E...
[NEW] Cliff Note #139: Special Situation - A Company Where the Bankruptcy Is the Catalyst, Not the Problem
Cliff Note #139 spotlights a rare scenario where a company’s bankruptcy acts as a catalyst rather than a terminal event. With a pending lawsuit cleared, the firm can resume its growth plan and aim for industry leadership. Analysts project that...
Cliff Note Update: A Legacy EMS Company Deepening Its Push Into Higher-Margin Markets
A legacy electronic manufacturing services (EMS) firm is intensifying its push into defense, aerospace, and medical sectors, where contracts are more durable and margins exceed those of its traditional industrial base. The company announced a new product line aimed at...
Research Pipeline Session #16: A Microcap with 50% Insider Ownership Tripling Retail Footprint
A debt‑free microcap that has posted net‑income profit for three consecutive years announced two major 2025 distribution agreements, one already reflected in revenue and a second slated for a 3,700‑store rollout. The company is shifting from a single‑channel model, driving...
Research Pipeline Session #15: 2 Transformative Acquisitions, and an EBITDA Inflection
A micro‑cap firm closed two back‑to‑back acquisitions that could shift its revenue from irregular, lumpy streams to a steadier, technology‑driven model anchored by its proprietary automation platform. The platform is already delivering 60‑70% efficiency gains at one of the newly...
Update to [Guest Post]: The SEC Wants to Let Companies Report Twice a Year
The U.S. Securities and Exchange Commission is moving toward a rule that would let public companies opt for semi‑annual instead of quarterly filings, with a formal proposal expected by April 2026. The proposal has garnered backing from Nasdaq and the...