RE:2023 GuidanceI agree that they could expand more on how they see the future and how the recent years have been in relation to what they expected and in relation to what the "average" environment is in their mind. I would love to get more commentary on the deal landscape although I understand they don't want to share too much. I would even love to hear just how involved Goodman is nowadays.
But the basics remain the same. What they will not do:
- Deals for the sake of doing them
- Deals just to please the investors
- Take any signififcant risk (in any way, such as deals or leverage)
Although I would love to see the market react well to latest quarterly reports, it's also absolutely a benefit for a company with "excess" capital to be able to buy back their stock at an attractive valuation when they find nothing else to do with the capital. As an investor, you don't feel like a winner when the stock price is depressed... but if you're in it for the long term, it's better for the company to buy its stock (=for you to increase your ownership) at lower valuations. This company will use the market to its advantage and it will do so whether the price is beyond or below its intrinsic value.
If some of us are right about the intrinsic value of GUD, this moment in time will look like a wonderful opportunity. Existing shareholders will benefit simply because the company is (likely) buying back its stock and increasing everyone's share of ownership.