Gear Energy Ltd T.GXE

Q1 Earnings

[geric]

Q1 2024 Release – May 1, 2024 (after market close)

[scienceguy36]

Would expect Q1 to be similar to March update. Debt down because only 0.8 mil spent on  Capital and Abandonment Expenditures. But wonder if some other news is in the works as GXE is just about the only oil stock going up or at least staying relatively stable even with oil going down. Perhaps an update with the Q1 earnings release.

[lovehockey]

We will want to see what they did with the buyback in March

[NotThatBright22]

My prediction...another quarterly LOSS!

[pierrelebel]

The answer to your question can be found in the message from the new CEO: "Gear does not expect to purchase any shares under the NCIB at this time as it allocates funds from operations to capital investments and growth."

[lovehockey]

Yep, saw that. Very disappointing. They are sticking with the divs.

[Quintessential1]

Sticking with divs until the debt is lowered.  The debt cost more to service than the divs cost and with a lower spread and higher WCS price the debt will come down faster aided by lower debt service costs.  It is a good kind of vicious circle.   Then buybacks aplenty as I do not see management making the same mistake of an unsustainable dividend by raising it again.