Another ViewSES recorded beats in EPS and revenue for Q4. EPS came in at $0.20 beating estimates of $0.19. Revenue (excl. oil purchase and resale) was $451M beating estimates of $423.73M and displayed growth of 12%. Total revenue was $2.34B, up from $2.03B a year earlier. Funds flow from operations was $128 million ($0.44 per diluted share), up from $84 million ($0.27 per diluted share), a year earlier. Adjusted EBITDA was also up in the quarter and the comapny reaffirmed its guidance for this in 2024. Free cash flow continues to be high and payout ratio of dividends to FCF is about 78% which is high, but we are still comfortable in this range. This was a good quarter for SES we expect it to continue to payout a good yield for investors. (5iResearch)