Taylor Devices: Another Ugly Quarter Could Set Up A Big Rebound Taylor Devices reported another wea...

Taylor Devices: Another Ugly Quarter Could Set Up A Big Rebound Taylor Devices reported another weak quarter but maintains a record $55.2M backlog, signaling strong demand. Despite a 26% YoY revenue decline and a 44% revenue miss, strong operating cash flow and working capital shifts suggest unrecognized project activity. I see the revenue shortfall as a timing issue, not a demand problem, and expect backlog conversion to drive a sharp earnings rebound.