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Coterra Energy Inc
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Q1 2024 Earnings Call Presentation
| Daniel Guffey; Caterina Papadimitropoulos | Page 10 of 11 |
May 19, 2024
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"Q1 2024 Earnings Call Presentation"
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FCF $1.3 48% base dividend (1) $0.6 11% buybacks $0.2 41% uncommitted excess FCF $0.5 10 2023 FCF $1.3bn Note: See appendix for non-GAAP reconciliations and definitions. Dividends shown are declared dividends within the year, not cash paid. Share repurchases shown are on cash basis, which excludes 1% excise tax and any shares that settled after the quarter-end.1) base dividend = 1Q24 declared dividends of $157mm + share count, per cover of 1Q24 10Q * $0.63/sh (for remaining 3 quarters of the year). Future dividends are subject to board approval. 2024e FCF $1.3bn Committed to Returning Value $ billions | Percentages shown are shareholder returns as percentage of FCF FCF $1.3 46% base dividend $0.6 31% buybacks $0.4 23% cash build $0.3 • Uncommitted excess FCF available for buybacks and cash build • $2.0 billion share repurchase authorization with $1.4 billion remaining as of March 31, 2024 • Returned 77% of FCF to shareholders with dividends & share repurchases see appendix for commodity price assumptions