The company said full-year 2023 total revenue was $8.5 billion, and GAAP net income was $166.2 million, or EPS of $0.39, returning to full-year profitability for the first time since 2019.

1. 01

   The company said full-year 2023 total revenue was $8.5 billion, and GAAP net income was $166.2 million, or EPS of $0.39, returning to full-year profitability for the first time since 2019.

2. 02

   The company said it expects Adjusted EBITDA for 2024 of about $2.2 billion, Adjusted Net Income of about $635 million, and Adjusted EPS of about $1.23. It also said Net Yield is expected to rise about 5.5% on an as-reported basis versus 2023.

3. 03

   The company said total debt was $14.1 billion and liquidity was $2.3 billion as of December 31, 2023, with cash and cash equivalents of about $402.4 million. It repaid $1.9 billion of debt in 2023, including the full pay down of its $875 million Revolving Loan Facility.

4. 04

   The company said it expects to refinance its $650 million backstop commitment in March 2024, replacing the secured commitment with an unsecured one. As part of the refinancing, it expects to repay $250 million of its 9.75% senior secured notes due 2028, its highest interest rate debt. The refinancing is subject to approval by its Board of Directors, which is expected in early March.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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