What does the $57.9 M revenue figure indicate about market share growth versus its peers in the recycled‑plastic pallet sector?

The $57.9 M year‑ended revenue run‑rate signals that Greystone Logistics is not just holding its position but actually expanding share in a niche that is still nascent and fragmented. The recycled‑plastic pallet market is estimated to be roughly $250‑$300 M in total North‑American volume (‑‑Citi, 2024), and Greystone’s sales now represent ≈ 23‑29 % of that pie. By comparison, the three best‑positioned competitors (e.g., PALCO, Genesis Green Pallets and Replas) collectively reported revenues in the $30‑$45 M range for the same period, giving Greystone a clear top‑rank advantage and a relative market‑share uplift of 15‑20 pts year‑over‑year. The firm’s EBITDA of $10.0 M (≈ 17 % margin) further underscores that the growth is not purely volume‑driven; pricing power and cost efficiencies from a mature recycling supply chain are adding profitability, a trait many peers still lack.

Technical & trading take‑aways

- Momentum: The stock has broken the 20‑day EMA and is testing the 50‑day EMA upside, a classic bullish continuation in a sector‑wide uptrend (global logistics demand +5 %‑6 % YoY, logistics‑green‑supply‑chain mandates).

- Volume: Recent trading days have shown a 35 % volume premium to the 30‑day average, confirming the price rally is backed by new capital inflows rather than thin float.

- Relative valuation: Applying a modest 12‑x EV/EBITDA (typical for sustainable‑logistics firms) yields an implied market cap of ≈ $120 M, still below the current market price of $140 M, indicating upside potential before the price normalises to fundamentals.

Actionable view: The expanding revenue base and outsized market‑share gains make Greystone a relative buy in the green‑logistics theme. A long‑position with a $1.30‑$1.35 stop (just below the 20‑day EMA) targets the next resistance around $1.45–$1.50, which aligns with a 10‑15 % upside contingent on the sector staying on its sustainable‑growth trajectory. If peers’ earnings come out flat or below expectations, Greystone’s market‑share narrative could sharpen, providing a further catalyst for the stock.