| Stage | ESI | % of rev | CWST | % of rev | Gap · A − B |
|---|---|---|---|---|---|
| Revenue | $995M | 100.00% | $544M | 100.00% | ESI ×1.83 |
| Gross profit | $342M | 34.40% | $179M | 32.88% | ESI +1.5pp |
| Operating income | $114M | 11.44% | $20M | 3.67% | ESI +7.8pp |
| Pre-tax income | $93M | 9.37% | $3M | 0.62% | ESI +8.8pp |
| Net income | $66M | 6.60% | $4M | 0.69% | ESI +5.9pp |
| Stage | ESI | CWST | Gap · A − B |
|---|---|---|---|
| Revenue | $995M100.00% | $544M100.00% | ESI ×1.83 |
| Gross profit | 34.40%$342M | 32.88%$179M | ESI +1.5pp |
| Operating income | 11.44%$114M | 3.67%$20M | ESI +7.8pp |
| Pre-tax income | 9.37%$93M | 0.62%$3M | ESI +8.8pp |
| Net income |
| 6.60%$66M |
| 0.69%$4M |
| ESI +5.9pp |
None
No disclosed counterparties: ESI.