A HORNY wake up to $BTU CRUSHING earnings! Much better than expected on the 'soft' side of the year. Reminder - yesterday's closing price had a $2.8B MC and a ~$2B EV. Highlights: Earnings of $1.42/share (quarter not annual) 2nd Q Adj Ebitda of $309.7M on a $2B EV $100M
Gave some $BTU thoughts on earnings/guidance last night
— Commodities MacGruber (@GoForGrubes2) July 31, 2024
To flush out a bit more:
2024 2H will be better than 1H
2025 will start to really ramp
2026 should be boffo earnings if they continue to execute
With 24 month look ahead earnings looking sooo good, they should be doing https://t.co/EanXiMOJqW
Further committed for buybacks. And I expect that deployed rapidly. Also, why this stock has a CLEAR floor. In fairness, $80M was recognized from an Insurance settlement, but deploying it to buybacks is perfect. Centurion Mine (THE FUTURE) will start shipping to Customers in
Q4 of this year, as compared to 2025 previously. Reminder, Wells Ward acquisition closed in April and that property is adjacent to Centurion and gets to use it's existing infrastructure. A 7.5c dividend per usual. My horniness scale ranks as follows: 1. Centurion shipping
Product in Q4 is such a massive game changer. 2. $100M more for buybacks. I want more NOW and they will regret not doing so. But $100M is not insignificant. 3. $309M Quarterly EBITDA on a $2B EV. All the while, prices are at a lull and production is about to ramp ALOT.
Good job to Management and now let's brow beat the hell out of them for: 1. Taking out the Convertible 2. Using the LOC for an extra $100M of buybacks 3. Enacting the MacGruber hedge program which will pay for the extra interest cost on a Convertible refi.