What happened Shares of energy solutions company Just Energy Group (NYSE: JE) sank 16% today as of 2:00 p.m. EST. The company reported its quarterly results this morning after a tumultuous fiscal 2021 second quarter. During the period ending Sept. 30, 2020, Just Energy completed a recapitalization plan that led to a single-day doubling of shares as well as a subsequent 30% drop once the plan was officially completed. So what Today, the company announced its base earnings before interest, taxes, depreciation, and amortization (EBITDA) dropped 33% compared to the prior-year period. Image source: Getty Images. The company ended its quarter with $138 million in liquidity, consisting of $78 million in cash and equivalents, and $60 million available under its senior secured credit facility. Total debt also decreased to $500 million from $782 million as of March 31, 2020 after the company completed its recapitalization strategy. Now what But the plan to de-risk the business and ready it for future growth also included the implementation of a 1-for-33 reverse-stock split and the exchange of debt and preferred shares into common stock. Investors in the energy company didn't cheer that news. The stock has dropped 46% since the company announced the completion of the plan. Today's release of the quarter's operational results didn't change that perception. Just Energy reported a 15% drop in sales for the quarter and a $51 million dollar loss compared to a profit of $89 million in the year-ago quarter. The company also said active customer count was down from both the previous year and sequentially from the previous quarter. The restructuring plan was intended to position the company for profitable future growth, but investors aren't yet seeing a sign of that from today's report. 10 stocks we like better than Just Energy GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Just Energy Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Howard Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source