I would have assumed that normally these are long term contracts and pricing would be known significantly earlier. In which case, management should have factored that into guidance.
I am not even sure why they shoot themselves in the foot with this guidance business. They are not obliged to.
The misplaced guidance is doing more harm than good. If you look at the numbers without the context of a hyped up guidance, they are pretty decent.
But that is the crux of the issue – is there an increasing disconnect with ground realities? Is the management entering hubris zone?
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