Q: What do you think of tou latest quarter do you think they continue paying special dividends into 2024.
5i Research Answer:
EPS and revenue fell year over year. EPS of $1.49 still beat estimates of $1.16, however. Production of 495K b/d was close to estimates of 498K. TOU cut its production forecast, but declared a $1.00 special dividend. Profit fell 71% on lower prices, primarily. While certainly not a blow out quarter, considering industry conditions we would still say results are 'pretty good'. The balance sheet remains rock solid with debt/cash flow very low.