Report by Two Rivers Analytics

Atlantica Sustainable Infrastructure (AY) - Faces competition from new renewable energy companies and weaker than expected demand for electricity. Sales growth averages just above zero since 2017. EBITDA and FCF have declined since 2021. Trades at 34x 2024 earnings.
Olin (OLN) - Weakened demand in its core chlor-alkali business, increasing competition and higher raw materials prices. Sales declined for four quarters (incl. -35% drop last Qtr). While current year growth forecasts have been cut, out-year growth forecasts have been increased.
Seagate (STX) - The demand for hard drives has been declining as storage shifts onto the cloud. Sales have declined dramatically for five quarters. Margins have plummeted and leverage has shot up (when measured against collapsing EBITDA).