RE:Have a great weekend everyone!so if you apply these numbers to BTEs May presentation plan, they should hit the $800M debt level in a little less than 7 months (roughly the end of November) and ahead of the predicted date (early 2023). Hopefully that means that during the Q3 earnings call, they should give a good idea of what's next for the increasing free cash flow and how that impacts the shareholders. Hedges also get reduceds as we head into 2023 which should boost FCF further driving down debt and increasing shareholder payouts.
roughly 570M shares today - should drop to 550M by year end.
So what should we expect (or want) to hear at the Q3 earnings call? Getting the sharecount down to 500M seems like it could be in the cards. So increasing share buybacks. if they devoted $200M/year in dividens that's about .03/month which is ok - but not ground breaking. So they need to push debt lower to ultimately return $500M a year (or $1/share) to shareholders would seem to be a 2023 goal.