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BMO Downgrades EQB to Market Perform: EQB Appoints New CEO
ByAinvest
Tuesday, Aug 12, 2025 12:39 pm ET1min read
BMO has downgraded EQB to Market Perform, citing concerns about the company's Q2 performance. EQB has announced the passing of its CEO Andrew Moor and appointed Marlene Lenarduzzi as interim president and CEO. The company has also completed a 500-million euro bond offering and reported Q2 revenue of $316 million.
BMO Financial Group has downgraded EQB to Market Perform, citing concerns about the company's Q2 performance and the recent passing of its CEO, Andrew Moor. The investment bank also expressed worries about the company's future direction and leadership changes.EQB has appointed Marlene Lenarduzzi as interim president and CEO following Moor's passing. The company has also completed a 500-million euro bond offering and reported Q2 revenue of $316 million, down from $320 million in the same period last year [1].
In addition to the leadership change, EQB has been facing operational challenges. The company's operational EBITDA fell by 25% to $9 million due to higher costs, including increased aluminum and manufacturing expenses. However, the company's Advanced Materials & Chemicals segment saw revenue growth, partially offsetting the decline in operational EBITDA [1].
The company's cash flow has also been impacted, with the cash balance reduced due to capital expenditures and higher operational costs. Despite these challenges, EQB remains committed to U.S. manufacturing and plans to focus on serving customers and developing growth businesses in the second half of 2025 [1].
Analysts have noted that the company is entering a new transition phase, with the appointment of new leadership and the exploration of "portfolio-shaping opportunities." However, the uncertainty over the future of the business and who will lead it has led some analysts to downgrade the stock to Hold [2].
References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_PLX6B61C3:0-eastman-kodak-q2-revenue-down-1/
[2] https://seekingalpha.com/news/4483867-open-text-gets-rating-cut-at-jefferies-on-entering-new-transition-phase
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