Q: Thoughts on their latest quarter.
5i Research Answer:
EPS of 57c beat estimates of 53c; revenue of $347M matched estimates. EBITDA of $174M missed estimates by 36%. EPS rose from 51c last year. Sales rose 6.5%. Production rose 7.1%. Guidance comments were largely unchanged, with planned capital spending of $450M. While not exciting, we are comfortable with the quarter, and the stock remains very cheap and is performing decently this year, up 14%, with a 6.72% yield. Payout ratio is 76%.