Our regular look at the FTSE 350 and other companies reporting from 05 – 09 August.
- Ibstock hoping to keep full-year guidance on track
- Disney’s streaming growth will be key to hitting guidance
- Has a new government changed the outlook for Persimmon?
Ibstock, Half Year Results, Wednesday 7 August
Aarin Chiekrie, equity analyst, Hargreaves Lansdown: Ibstock’s LON:IBST 2024 didn’t get off to the best of starts. First-quarter sales volumes came in below group expectations as residential construction markets remained subdued. Despite the weaker volumes, strong cost-cutting measures helped keep underlying cash profits (EBITDA) on track. That’s good news in the short term, but analysts are wary that cost cuts can only go so far.
Back in April, CEO Joe Hudson said that leading indicators were beginning to suggest an increase in housing market activity. When the group reports half-year results next week, investors will be keen to see if the positive outlook remains the same. If concrete signs have failed to materialise by this point, markets could see full-year guidance reined back in a similar fashion to its competitor, Forterra.
Walt Disney, Q3 Results, Wednesday 7 August
Aarin Chiekrie: Disney’s NYSE:DIS last set of results were broadly in line with market expectations. Revenue inched 1% higher to $22.1bn, while operating profit shot up 17% to $3.8bn as cost-cutting initiatives from the prior year began to bear fruit. The uplift was also helped by a turnaround in fortunes from Disney’s streaming services, Disney+ and Hulu, which posted their first-ever profits.
- Companies Reporting: AstraZeneca, Alphabet, Disney
- Companies Reporting: BAE Systems, Walt Disney, Direct Line
Looking to next week, markets are expecting the top line to keep moving in the right direction, with 3.1% revenue growth being the target. The group’s theme parks and cruises will likely continue to draw customers in and more than offset weakness from its more traditional cable networks. Market sentiment around the company has been weak over the past few months, and the valuation’s taken a big hit as a result. Meeting and even exceeding expectations on the streaming front will be key to changing the mood music, given that it’s a big part of Disney’s future growth strategy.
Persimmon, Half Year Results, Thursday 8 August
Aarin Chiekrie: After a shaky 2023, Persimmon’s LON:PSN first-quarter trading showed some encouraging signs of improvement. Sales rates edged slightly higher in the period alongside a growing order book, indicating that buyers’ confidence was improving. Investors are keen to see if that positive momentum continued into the second quarter.
- Persimmon and Vistry: Are these UK housebuilders being underrated?
- Companies Reporting: Ocado, Persimmon, Experian
Markets are looking for £1.25bn of revenue from next week’s half-year results, and any beat on this front is likely to be met with a positive response from investors. A change in government and promises to refresh planning regulations have brought some early signs of optimism to the sector, and we’re keen to see how, or if, management tweaks the medium-term outlook as a result.
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
Monday 05-Aug | |
No FTSE 350 Reporters | |
Tuesday 06-Aug | |
Abrdn LON:ABDN | Half Year Results |
Caterpillar NYSE:CAT | Q2 Results |
Intercontinental Hotels LON:IHG | Half Year Results |
IWG LON:IWG | Half Year Results |
Renewi LON:RWI | Q1 Trading Statement |
Rotork LON:ROR | Half Year Results |
Spirent Communications LON:SPT | Half Year Results |
Travis Perkins LON:TPK | Half Year Results |
Wednesday 07-Aug | |
4imprint LON:FOUR | Half Year Results |
Coca-Cola HBC LON:CCH | Half Year Results |
Glencore LON:GLEN | Half Year Results |
Hiscox LON:HSX | Half Year Results |
Ibstock LON:IBST | Half Year Results |
Novo Nordisk [CPH:NOVO] | Q2 Results |
Quilter LON:QLT | Half Year Results |
Shopify NYSE:SHOP | Q2 Results |
TP ICAP LON:TCAP | Half Year Results |
Tritax Big Box REIT LON:BBOX | Half Year Results |
Walt Disney NYSE:DIS | Q3 Results |
Thursday 08-Aug | |
Beazley LON:BEZ | Half Year Results |
Derwent London LON:DLN | Half Year Results |
Eli Lilly NYSE:LLY | Q2 Results |
Entain LON:ENT | Half Year Results |
Harbour Energy LON:HBR | Half Year Results |
Helios Towers LON:HTWS | Half Year Results |
Hikma Pharmaceuticals LON:HIK | Half Year Results |
Hill & Smith LON:HILS | Half Year Results |
Lancashire Holdings LON:LRE | Half Year Results |
Morgan Sindall LON:MGNS | Half Year Results |
Persimmon LON:PSN | Half Year Results |
Spirax LON:SPX | Half Year Results |
TI Fluid Systems LON:TIFS | Half Year Results |
Friday 09-Aug | |
Bellway LON:BWY | Trading Statement |
Hargreaves Lansdown LON:HL. | Half Year Results |
Renewables Infrastructure Group [LON:TRIG] | Half Year Results |
TBC Bank LON:TBCG | Half Year Results |