Negative Free Cash FlowPersistent negative free cash flow from elevated capex constrains the company's ability to deleverage, pay dividends, or build liquidity. If fleet replacement and investment continue to outstrip operating cash, financing needs may remain elevated and pressure financial flexibility over months.
High Total Debt LevelMaterial outstanding debt increases interest and principal obligations, reducing slack for reinvestment and heightening sensitivity to revenue shocks. In a transportation business with capital intensity, sustained leverage can limit strategic options and raise refinancing risk in the medium term.
Operating Profitability Weakness (negative EBIT)Negative EBIT indicates underlying operating issues despite a net income rebound. Reliance on non-operating items or one-offs to reach positive net income can mask weak core margins. Durable improvement requires restoring consistent operating profits to sustain cash flows and reduce earnings volatility.