Greencore was a buy for every single analyst. Then it fell 30%

AS A RESULT OF POOR RESULTS, GREENCORE has announced it will halt production at its North Kingstown facility that opened in 2015, with the possibility that it will be sold. / COURTESY GREENCORE GROUP
AS A RESULT OF POOR RESULTS, GREENCORE has announced it will halt production at its North Kingstown facility that opened in 2015, with the possibility that it will be sold or otherwise repurposed. / COURTESY GREENCORE GROUP
LONDON – Stock darling Greencore Group PLC is likely to attract some bears after Tuesday’s surprise profit warning. The shares tumbled as much as 30 percent in London, the most on record, after the Irish food company forecast earnings for this year below analysts’ expectations as CEO Patrick Coveney seeks to tackle persistent problems in…
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1 COMMENT

  1. Isn’t this the real story?: “…the company said this decision will address operating losses at the site that continued into fiscal 2018.” This is a state of the art facility. It should be the company’s shining star. What’s wrong?