DMC (BOOM) - 2023 Q4 - Earnings Call Transcript

Yeah. Ken, this is Eric. So for 2023, we had free cash flow conversion of 40% to 45%. And this year, we're aiming to get that up into the, call it, low 50%, low to mid-50% level. We do think that there's going to be some tailwinds from working capital. We think that the working capital actually was slightly higher in a couple of the businesses in 2023 than maybe what they needed. So as we go forward in 2024, we think we're going to be able to unwind some of that and get a benefit of the free cash flow line. ...