Bullpen.News From Edwin Dorsey
Get Daily Recap Feedback

Saturday, November 7, 2026

Back to the front page

Perimeter Group: 3Q26 Business Recap

Perimeter Group posted 24% revenue growth to $390 million as fire-safety contracts and acquisitions lifted results, while it brings PDI supply in-house after Flexsys disruptions.

PRM $4.8B
Speedwell Memos 2 clicks

From X

@BrokenMoats

Broken Moats on X

??? Two things can be true at the same time. In that you can have a slow down from weak international travel (administration) domestically, weak lower end consumer, glp, and inflation that is dragging down sales. And yet you can continue to invest in new store counts if the economics of your model are intact AND you have the balance sheet to continue to invest in your business. The competitors you cited besides macro have other issues impacting their ability to invest; PTLO has a serious balance sheet issue SG has an economic model problem... *turns out 18$ salads is a tough business*. Mcdonalds increased store openings in 2008 AND 2009 even as SSS growth was slowing every year 06-09....those investments worked out just fine because the model works. $SHAK SSS still going to print solidly positive for the year while most chains won't this year (and thats without the added store count). Shak has issues, all restaurants are tough and tough to scale and Rob and the cfo are far from Mcdonalds level of execution, but at 1x sales and a +20% restaurant margin model with 4m AUV theres a lot more room to the upside then the downside at current levels. I don't think they get to the dream target of 1500 stores, but that would be a 10x from here, whats the downside, at almost 1x current....30% maybe? I'll take that asymmetric set up. (Entered shares today)

Investor Letters

All letters

Post Q3 EVC Update

EVC's Q3 update cites $30 million for a single station, a broadcast-business sale and stronger positioning for 2027.

EVC $832M
Nat Stewart - Stock Picking Newsletter 24 clicks

Entravision Q3 Update

Entravision’s Q3 ad-tech revenue reached $177.2 million, up 133% year over year, while total revenue rose 88% to $226.3 million and diluted…

EVC $832M
The Value Road 4 clicks

GREAT DEC-TECTIVE WORK

Diversified Energy reported $255.6 million of “true” nine-month free cash flow, while its $1.8 billion Birch acquisition would shift…

DEC $900M
The Oak Bloke 3 clicks

Problems at Twist Bioscience (TWST)

Twist Bioscience’s $200 rebound followed an Anthropic-linked short squeeze, yet its DNA and protein services face broad competition while…

TWST $8B
Hunterbrook 4 clicks

VSH Earnings Review

Vishay reported record Q3 revenue of $979 million, up 24%, and guided Q4 to about $990 million as rising backlog and margins contrast with…

VSH $3.6B
Cestrian Capital Research 3 clicks

Publications we follow

Every publication on this site, hand-picked.

129 publications

Newsletters 109

YouTube 4

Blogs 15

Seeking Alpha 76 of 280

Nominate a publication

X accounts we follow

Every account on this site, hand-picked.

91 accounts
Nominate an account

Investor letters we follow

359 firms

Sectors

Ordered by how often our editor reaches for them.