Back in June this year AGL issued guidance for FY24 of:
- Underlying EBITDA of between $1,875M and $2,175M: and - Underlying Profit after Tax of between $580M and $780M
Of particular interest to me, was that the Board had the confidence in their financial modelling to announce such figures before the year had even commenced.
The market, of course, responded very favourably to this news. The Board will also know how brutal the market can react to any announcement that might downgrade profit expectations further down the track.
I recall that this led one analyst (can't remember who) to speculate that the BoD might have been conservative when putting out the FY24 guidance. An interesting logic that, barring any "black swan" events, might possibly keep the AGL share price stronger for longer.
Then again, that's speculative, and so this theory may be worthless. Therefore do your own research and do it well!
AGL Price at posting:
$12.19 Sentiment: Hold Disclosure: Held
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