RE:reply from investor relationsmnztr wrote: I asked about the Q2 1.2b debt target resulting in higher return of capital. This is the reply:
The $1.2B debt target was our projected debt level at the end of 2022, but that was an operational target and was presented independent of the return of capital framework. Based on our current guidance, we expect to reach net debt of $1.0B in 2023 and we have reiterated our commitment to increasing returns to shareholders as debt levels decrease.
So they must be planning to acquire I would guess. That is the 200B gap.
I seem to have a little interpretation problem in your write up.
You start with "I asked about the Q2 1.2b debt target...." Which year Q2 are you referencing? Was it something they quoted in Q2/22 or are you suggesting they set a target of $1.2B for Q2/23?
Their response was "
The $1.2B debt target was our projected debt level at the end of 2022..."
They then went on to say "we expect to reach net debt of $1.0B in 2023..."
So they are reducing debt on a time basis? ie. paying down debt. They don't appear to be specific as to when in 2023 so presumably they are referencing the end of 2023 assuming pay downs continue as is. Why do you refer to a gap? Also it appears to be a .2B figure -- not a 200B figure, if I'm reading it right -- is that not 200M?
Just stumbling a bit over your wording.