In speaking to AGL Investor Relations, we agreed that quarterly reports could help manage market expectations, and prevent such a violent price shock because analysts did not accurately price in the impact of the outage (which in the analysts' defence was a throw-away line on their FY23 forecast). I'd recommend any other AGL Investor to request the same.
By all accounts, I expect there to be an Underlying NPAT H2 recovery (presuming improved fleet reliability, which has become a focus for the company and for which they have implemented key initaitives to ensure this), though would prefer a quarterly update in April to say "on guidance for Q3 and everything is looking good for Q4" rather than wait with bated breath till August to see where this roulette lands.
In terms of calls for heads to roll, its the same toxic discussion we see in all facets of society (e.g. sports, politics etc), sometimes we need to give people an opportunity to grow into a role (both Chair and CEO). Personally, I think it was pretty rookie on Patricia's McKenzie's part to say there was going to be a global search, then to appoint the interim CEO, Damien Nicks - though I wouldn't sack her for it, she was able to get agreement to appoint the CEO with the new board (maybe there is another takeover in the offing?!?).
Having listened to Damien on the most recent earnings call, I liked his grasp of the details of the business and felt it was in stark contrast to the previous CEO. Now out of caretaker mode, he's got to own the H2 results.
Finally, although I cringed at the paltry dividend, I was glad they didn't follow the path last year of underwriting larger dividends - I am okay for short term pain if there is going to be considered stewardship of the company going forward.
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