RE:RE:RE:Official statements on fcfJohnnyDoe wrote: HeavyBanana wrote: "Now they're telling people privately that capex is tilted to Q3 and as a result fcf is weighted to Q4."
You seem to be accusing nefarious practices by Brian Ector in answering investor enquiries.
Nothing Brian says to any investor in any exchange is private or privileged information.
The guy is tranparent and forthcoming to the extent he can be within the regulatory frameworks.
Odd that you would take this stance on an investor forum. It makes those who ask Brian questions, question why they/we share what they/we find out on this chat forum.
None of what you reference in your post indicates a deception on the companies part.
Good times a coming in Q4 in spite of your negative slant.
At this point, yes, I'd say they're being less than forthcoming
In Q1, they said 700 fcf. They didn't say 75% weighted to H2. Do you think they knew that at the Q1 call?
In Q2, they're saying the fcf is weighted to H2. They kind of have to if they didn't deliver the fcf in the Q. It's coming. Next Q
Now, do you think they knew on that last call, that the fcf is actually heavily weighted to Q4? Not H2. When you say weighted to H2, it's pretty logical to think that's relatively close to 50/50 between the Q's.
Now, if what they're telling you is that the fcf is actually coming in Q4, and the H2 split is more like 25/75, well they probably knew that on the last call. Why didn't they bring that forward?
Call it whatever you'd like. It's a bit deceiving in my view to say weighted to H2 when what you mean is heavily weighted to Q4. It looks like fcf might be delivered in a 0/25/25/50 ratio. And their guidance, if they hit 700, while correct was also a bit misleading imo.
I might agree with you if during the conference call the question was asked on a specific weighting of E&D expenditures for Q3 and Q4 but the question wasn't asked.
Had it been asked and they said anything different from what Brian Ector conveyed the other day then that would certainly have irked me but as it stands, they gave a H2 projection without breaking it down further per quarter.
I asked for the quarterly breakdown to the extent Brian could guide with Q3 now being 50% in the books and he provided the projection.
Ask the right questions and get the more detailed answers. The analysts were happy with the answers they received during the cc. I wanted further detail and I received it.
Fair play to you. We simply see things differently as it relates to company disclosure.