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Company: Delta Apparel (DLA)
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  Higher earnings estimates

With the new estimates, on an adjusted basis, now significantly higher than the previous consensus it is probably no surprise that the stock is rallying. I admire the company for issuing the guidance according to GAAP and letting the analysts work out any adjustments they want to make. The true earnings power is probably somewhere between the GAAP and the pre-charge numbers anyway. But even using the GAAP numbers the stock is trading at a fairly reasonable 12x the midpoint of next year’s earnings.[1]

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