Since the start of the buyback program the total shares and warrants that have been repurchased are more than 13 Million that are off the market right now.
The shares (and warrants) that have been repurchased from Goldman and associated companies are not part of the buyback program, and they have not been canceled, but held as treasury shares, but AWH does not have to pay dividends on them.
If AWH would cancel the treasury shares, EPS would rise tomorrow by about 15%-20%
Even if AWH would make 20% less in Q4 than Q3, net income for the year is about 750 Mil then, that distributed over only 40 Mil shares would mean an EPS of about $19 for the year.
Looking at those numbers, I think AWH is a great buy, and at this pace I would be surprised if someone at AWH would not think about taking it private in the next 2-3 years.
I would love to see more buybacks. I think their 10-q said something on the order of 7% of outstanding shares were bought back (below todays prices) and that's not including the $250M from goldman which saves something around 15-20M a year. I love AWH. If only share price would match the balance sheet.
In addition to the shares bought back that are mentioned in the q-10 awh entered into another agreement on nov 8th that looks almost like the first one with goldman to buy back shares for another 250 mil...looking good!