Post by
poopoopoo on Mar 13, 2023 6:06pm
New CEO first comments...
The CEO said the following in Q4 report:
"Tidewater closed out a record 2022 with solid fourth quarter results. We are now focused on driving shareholder value by maximizing cash flow generation. This process will involve a renewed focus on disciplined capital allocation as well as cost control. Part of this effort also includes a structured review of our assets and may result in partnerships, sales or other options" comments Interim CEO, RobColcleugh.
The previous CEO was never focuseed on shareholder valule so this is a nice change to state it is a goal!
I suspect they are going to sell Pipestone or other assets they can get premium prices and reduce the debt substantially along with reducing G&A expenses. The new CEO was brought in to start addressing shareholder value or the share price. I think this year will be very interesting as there is the potential for asset sales, debt reduction, increasing cash flow generation along with the completion of the bio diesel facility. Could be an interesting year if the new CEO delivers on shareholder value and this stock may finally be ripe for decent gains. Lets see if he delivers...