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this post was submitted on 08 Sep 2023
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The difference is the $500m loss will continue to accrue and continue into 2024 so long as the strikes continue, while that $47m will stay relatively constant. And that $47m may be yearly, but that’s $47m out of their $500m+ earnings, per year.
I think they are estimating profit of 10-13 billion this year unless that figure was revenue. 500 and 47 million aren't even that relevant
That's still like a 5% hit in just a few months. That's going to increase the longer this goes on, and its going to accelerate as they start to run out of projects at the end of the pipelines.
$500m out of a $10b profit is 5% loss. It it gets up to $1b out of $10b, then that's a 10% loss. I'm not sure you can say that's not irrelevant. These businesses are losing tons of money.
It's more of a comment on the production companies saying they came afford to meet strikers' demands yet can report numbers like that to their shareholders.