OneSpaWorld Holdings Limited (NASDAQ:OSW) Q3 2023 Earnings Call Transcript

Assia Georgieva: And lastly, maybe, Stephen, you touched on this when you were answering Sharon’s question. With debt repayment at such significant levels, which is great and trying to get returning capital to shareholders. Are we thinking buybacks or possibly a dividend program?

Stephen Lazarus: Both will be considered. Determination will be made depending on what the stock price is, what interest rates are, et cetera. So I think the Board and the company will try and make the best decision for our shareholders.

Assia Georgieva: Well, Stephen, that was a very diplomatic way of telling me I’m not going to answer this question.

Leonard Fluxman: No, he’s not saying that at all. What it’s really saying is you can see the free cash flow generation from this company. You can see the rate at which we’re paying down debt. Clearly, at some point, whether it be at the end of 2024, we’ll have a much better idea of where we are on debt. Clearly, that’s the best use of cash right now. And to the extent then that we continue to see the same optimism in our business, we will start to return capital in either of those forms. I don’t think he’s trying to be cute at all.

Assia Georgieva: Well, and I didn’t mean it that way. I guess I was trying to be cute.

Leonard Fluxman: But he is a very good diplomat, I will say.

Assia Georgieva: Agreed. Again, a great quarter, and thank you so much for providing even better guidance for Q4.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to the management for any closing remarks.

Leonard Fluxman: Right. I just want to thank everybody for joining us on the call today. But before I leave, I just want to thank our entire leadership team that work so closely with us and all of our associations should put staff for their steadfast contributions and commitment to achieving the operational excellence evidenced by the third quarter results and expected fourth quarter results. So thank you, everybody. We look forward to speaking with you on the next quarter call.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may all now disconnect.