I understand this, but in general it is far from ideal to have lots of pressure on the back end of the FY to hit guidance, lots of downgrades in confession season happen this way.
The soft HY result also encourages financial engineering and short term thinking to hit the bottom end of the number. I am not suggesting this will happen, but this is often a precurser to lower quality earnings via accounting tricks.
Historically CSL has been conservative in guidance, this doesnt seem to be the case at the moment given the sceptism I heard from in the analyst questions.
The one comforting thought is that this CEO's days will be nunbered if he delvers a downgrade prior to EOFY. In any event, I don't think he will be around anywhere near the length of time as the previous.
The previous long tenured CEO very skillfully stepped off the bus right after signing off on a poor acquisition and the market came to grips with how long Behring margins would need to recover.
At least the Chairman and former CEO is facing a hit for his poor decision to sign off on the acquisition and appoint a new CEO who seems middling at best.
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