Keegan Tierney Cox's questions to A-Mark Precious Metals Inc (AMRK) leadership • Q2 2025
Question
Keegan Tierney Cox, on behalf of D.A. Davidson & Co., asked about the expected earnings accretion from the Stack's Bowers acquisition. He also followed up on the M&A pipeline, questioning whether future potential deals would be held to the same standard of accretiveness.
Answer
Executive Gregory Roberts confirmed the Stack's deal is expected to be accretive, providing an estimate of approximately $16 million in EBITDA for 2025, but deferred further specifics until the deal closes. He strongly affirmed that he does not intend to pursue dilutive deals, emphasizing that the current slow market is an opportune time to find accretive acquisitions that build long-term value.