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Companies Reporting: Ibstock, Disney, Persimmon

Companies Reporting: Ibstock, Disney, Persimmon

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.

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.

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

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