Companies Reporting: Ashtead, M&G, Salesforce

Our regular look at the FTSE 350 and other companies reporting from 01 – 05 September.

• Ashtead looks to return to top-line growth
• Salesforce has eyes on AI momentum and topline growth
• Cost cuts and progress on asset flows in focus for M&G

Ashtead, Q1 Results, Wednesday 3 September

Matt Britzman, senior equity analyst, Hargreaves Lansdown: Ashtead LON:AHT is expected to deliver low–single digit top-line growth next week when first-quarter results are released, marking a potential end to a couple of quarters of declines. Revenue is anticipated to come in around $2.8 billion, suggesting reasonably steady progress following the 2% rental revenue growth management reported earlier in the quarter.

• Company Diary: British American Tobacco, Ashtead, TUI

The group has been navigating a tougher trading environment, but local end markets appear to be stabilising, and mega-projects continue to provide a longer-term tailwind. After a period of overinvestment in the fleet, scaled-back capex has helped improve utilisation rates and supported improved cash flows.

Cost pressures remain a challenge, so markets will be watching closely for any updates on the rental pricing environment. Higher volumes are encouraging, but pricing progress will be key to sustaining margins.

Salesforce, Q2 Results, Wednesday 3 September

Matt Britzman: Salesforce NYSE:CRM is set to report its second-quarter results next week, following a solid first-quarter, which saw the company raise the top end of its full-year revenue guidance range by $0.4 billion to $41.3 billion. Analysts expect to hear this topline momentum has continued, with second-quarter revenue forecast to land between $10.1-$10.2 billion, up 7-8% ignoring exchange rates.

• Company Diary: Salesforce

Beyond the headline numbers, a key focus will be on the company’s progress in scaling its AI initiatives. At the last count, Salesforce had signed over 8,000 new AI deals, so updates on the adoption of Agentforce and Data Cloud will also be closely watched.

M&G, Half Year Results, Wednesday 3 September

Matt Britzman: M&G LON:MNG reports half-year results next week and will be looking to build on the momentum from its full-year results in March. Cost reductions have been a key focus, and investors will be watching for updates on the pace of delivery toward the £230 million in annual savings targeted by year-end. Any commentary on technology integration or headcount changes could help reinforce confidence in the medium-term profit outlook.

• UK Stock Market News: Hilton Food, Bakkavor, M&G

Flows into the asset management business remain a critical area, and one M&G has been actively working to improve. Markets will be keen to see signs of progress here, along with any updates on the strategic re-entry into the bulk annuity market, where some innovative approaches are currently being tested.

This article has been brought to you in association with Hargreaves Lansdown. All opinions expressed in this article are from the analysts and do not necessarily represent the opinions of The Armchair Trader.

FTSE 100, FTSE 250 and selected other companies scheduled to report