Case study
Preventing Shareholder Activist Action
How we provided finance and accounting advisory, information management and project management for a large engineering, procurement, and construction company.
The challenge
Our client was facing SG&A criticism from investors and activist shareholder threats.
Successful outcome
- Non-cash amortization was transparently presented separately from cash SG&A cost
- Activist shareholder did not take action
- While other factors were also at play, stock price increased by more than 50% after SG&A cost reclassification
How we did it
- Performed analysis of non-labor SG&A cost
- Performed a peer comparison of financial statement presentations
- Led discussion with external auditors explaining why the new presentation method was preferable
Boxley Group competencies
- Finance and Accounting Advisory
- Process Optimization
- Information Management
- Project Management
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