Official statements on fcfHere's what they said in the Q1 results
Based on the forward strip(3), we expect to generate approximately $700 million of free cash flow(4) in 2024. We intend to allocate 50% of free cash flow to the balance sheet and 50% to shareholder returns, which includes a combination of share buybacks and a quarterly dividend.
Here's what they said in the Q2 results
We expect to generate approximately $700 million of free cash flow(2)(4) in 2024, weighted 75% to H2/2024. We intend to allocate 50% of free cash flow to the balance sheet and 50% to shareholder returns, which includes a combination of share buybacks and a quarterly dividend.
Now they're telling people privately that capex is tilted to Q3 and as a result fcf is weighted to Q4.
Seriously?
Every quarter they do this. And debt to EBITDA hasn't changed in 9 quarters. And counting apparently