Business
Australia earnings season: Telstra’s Andy Penn draws a line in the sand – The Australian Financial Review
Andy Penn might have made a rod for his own back with new earnings targets, but he’s right that Telstra needs to show that simplification equals higher profits.
If we take the midpoint of the guidance for FY21 underlying EBITDA ($6.75 billion) and the midpoint for FY23 earnings ($8 billion), we can see that Penn is effectively predicting he can grow earnings by 18.5 per cent over the next three years.
Theres no doubt its the sort of prediction that can come back to haunt a CEO. And six years into his tenure, some will ask whether this is Penns last big stand as Telstra boss hell be in his ninth year when he delivers the 2023 results.
Penn might be making…
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