NOV Inc. (NYSE:NOV) Q4 2023 Earnings Call Transcript

So, as we’ve said before, first and foremost, we wanted to get the balance sheet metrics where they should be, we’re there. Then we need to get cash balances and more importantly, outlook related to resiliency and consistency in terms of our expectations in free cash flow. And so we think — putting all that together, it’s probably a midyear-type timeframe where we really look at leveraging up that return of capital. But that’s been an ongoing discussion with our Board over the last several quarters, and it certainly will be over the next few quarters.

Stephen Gengaro: Okay, great. No, that’s great color. Thank you, Jose. That’s all for me.

Jose Bayardo: Thanks Stephen.

Clay Williams: Great. Thanks Stephen.

Operator: Thank you. And I would now like to turn the conference back to Clay Williams for closing remarks.

Clay Williams: Thank you, Michelle, and thanks to all of you for joining us today. We look forward to reviewing our first quarter results in April. And I hope everyone has a nice day. Thank you. Bye-bye.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.