I was coaching first base when I heard my phone whistle its notifcation for the earnings press release. During a pitching change I quickly skimmed the document. When the batter stepped in I got so distracted thinking about the $20MM buyback number that I sent my runner to steal 2nd with a runner already on that bag. Thankfully the third base coach, who probably owns BSM, saw my folly and called his runner. Some bad thows later and it all ended up ok. But $20MM?
My expectations for the quarter were pretty light due to the tough winter conditions and pandemic hangover but I expected more from the buy back. Is this management telling us the price is too high?
The quarter ended with $310MM (~$40/share) in cash on the balance sheet. Do I get a dividend? M&A inbound?
Water was challenging. What’s the plan there?