Let me make a correction on refi charge.. $176M, that is -$0.50 EPS will be charged against 2nd qtr earning, and maybe -$0.15 EPS stock bonus charged. Total -0.65 EPS reduction on 2nd qtr earning.
The 1st qtr EPS $0.35. I also had raised the question about the where was the synergy saving, but no one care.
So you can see, we will be likely -$0.30 EPS if just compare with the 1qtr. So far the street estimate $0.41, I am sure they didn't include the refi charges. You can only hope street will get it right know that is one time charges, but actually it is not one time charges, it happened every year and likely will continue.
The positive side is those charges doesn't affect your FCF or EBIDTA.
In addition, I hope those cost synergy will finally hit the 2nd qtr. So it will not look as bad as I think. I hope. If we can get through 2nd quarter without scratches, we might see $60 by the end of year.
However; if none of the good thing happened, we might see $45 after 2nd quarter report and get back to $55 by the end of the year. I hope.