RE:👽2023 Investor Day -> Why one month later than 2022 ?While there will probably be good news in terms of updating the projections through to 2025, I think it will just be a marginal update.
As for the reason of the timing, it is because of the notice of redemption of the $500m of 2025 senior notes. They can't be hosting an investor day in between the date when the notice of redemption when out and the date of the actual redemption and saying that the fundamentals of the company have changed. The redemption date is March 16, after which they can provide this type of information.
This is the same as the reason they put out the preliminary year-end financial data in January. They couldn't hold back the information so that investors would know the fundamentals of the company at the same time as they are were seeking to retire debt. If they did, someone woudl say they were mislead.
So, there is no sense building up an exepctation for some big announcement when there is not likely to be any. And I prefer there not to be. I would rather hear that their plan is working somewhat better than expected and they need to update their numbers to account for all of the debt repayment/refinancing as well as the improved certainty they now have through 2025. That is much better than these great big huge anouncments which then cause huge swings in the share price. That volatility is not comfortable for me (even though I have not sold any yet) and I am sure it keeps other retail investors from jumping in.
So, here is hoping for continuous slight improvements!