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There’s a raft of FTSE 100, FTSE 250 and international companies reporting from 26 to 30 July. We pick out a few highlights below – and you’ll find the full list of reporters further down the page.

  • Tesla will show how it has navigated the computer-chip shortages
  • We’ll understand how stop-start lockdown restrictions impacted Ryanair’s hopes to breakeven this year
  • Moonpig’s flying start has come back down to earth with a bump
  • ITV will update us on its drive to change channels
  • We’ll see whether Facebook is prepared for a showdown with the US government
  • The shine has come off the bootmaker recently at Dr Martens
  • Investors will be all ears about the pace of reopening at Compass Group
  • We’ll find out how PHP’s project pipeline has progressed

Tesla [NASDAQ:TSLA], Q2 Results, Monday 26 July

Nicholas Hyett, Equity Analyst

“With production coming in ahead of expectations Tesla has clearly navigated the computer-chip shortages that have hit the wider industry well. However, tighter supply chains together with changing product mix (Model 3/Y deliveries continue to grow while premium Model S/X sales fall) mean margins will be the main area of focus once again. Increasing competition in the electric car market will also spark extra interest in any comments on the outlook for future deliveries – particularly in China where local competitors have been ramping up sales. That extra competition could also undermine the group’s lucrative line in selling carbon credits to other manufacturers. While we don’t see a collapse in credit revenues as imminent, any suggestion this crucial source of cash is under threat would raise questions about whether Tesla can fund future expansion without further shareholder support.”

Ryanair [LON:RYA], Q1 Trading Statement, Monday 26 July

Laura Hoy, Equity Analyst

“The big question for Ryanair is whether it is still on track to breakeven for the current financial year. The group said it would avoid another loss in the 2022 financial year if travel restarted between July and September. However, the yo-yo restrictions over the past few months have added some turbulence to the sector. We’re keen to see how Ryanair’s responded to the uncertainty and whether it will be enough to push profits into the black. Capacity and passenger numbers in the current quarter will be top of mind as we work out whether Ryanair will be able to make good on its ambition to breakeven. We suspect they won’t be quite as strong as the group had been hoping. But with internal EU travel flowing more freely, it should be enough to piece together something of a summer travel season. We’ve also seen peers like easyJet aim to capitalise on travellers’ willingness to pay more for things like additional baggage and priority boarding. We’d like to see Ryanair pounce on this trend as well, particularly because roughly a third of the group’s passenger revenue comes from spend on extras.”

Moonpig Group [LON:MOON], Full Year Results, Tuesday 27 July

Susannah Streeter, Senior Investment and Markets Analyst

‘’Moonpig flew into the FTSE 250 at the June reshuffle after rooting out a hefty valuation at its IPO launch. The company had been living high on the hog during the pandemic as demand for cards and personalised gifts ordered online soared.  But the easing of shopping restrictions mean consumers are now free to browse real rather than virtual piles of cards once more, and there are concerns its flying sales may have come down to earth with a bump.  Reflecting those worries, the share price has fallen by a fifth since reaching a high at the beginning of June. By positioning itself as a digital sales platform, using data to predict consumer preferences, Moonpig seemed to have succeeded in positioning itself as a big e-commerce player, rather than an online card retailer. But whether it can capitalise on those data sets to boost sales of other ranges is far from clear.’’

ITV [LON:ITV], Interim Results, Wednesday 28 July

Susannah Streeter, Senior Investment and Markets Analyst

“ITV is trying to change channels to make the business less reliant on advertising as a driver for growth. Developing its Studios arm which creates content for other platforms and channels is a big part of this strategy. But the move is taking time, not least because of the production setback brought on by Covid and any update on progress will be one to watch. The recent share price plunge, off the back of concerns about new variants causing a drag on the recovery, demonstrates why the pivot is so important. Sentiment is highly sensitive to any factors which could affect ad revenues. The picture remains fuzzy regarding the impact this current spike of infections will have for the economy, but overall advertising revenue has been recovering. ITV’s schedule is looking brighter with the return of big shows like Love Island following cancellations during the pandemic.’’

Facebook [NASDAQ:FB], Q2 Results, Wednesday 28 July

Laura Hoy, Equity Analyst

“Facebook has been a pandemic winner and as a result the group will have a hard time besting its 2020 first-half results. However, nothing seems impossible for the social media giant and the world’s shift to digital looks like a long-term behavioural change rather than a passing fad. The second quarter should see revenue growth slow significantly from the 46% increase in the first quarter, but even just maintaining some of the pandemic-driven momentum would be impressive. The driving force behind revenue will be advertising spend, itself a reflection of the size of Facebook’s active user base. The group was able to grow Monthly Active Users by 10% last quarter, but we suspect that could be a bit lower as people are out and about a bit more. Advertising prices saw a double digit increase last quarter and we’d like to see that trend continue without knocking volume growth. Continued revenue growth is important because the group’s spending has been on the rise recently as it works to build out its data centres and keep up with the ever-changing tech landscape. Those dollars are also destined to go somewhere else though—the legal and corporate affairs departments. While the group won the first round of lawsuits, which alleged the company had become an unfair monopoly, the Biden administration is likely to continue pursuing a break-up. We’d like to hear Facebook’s take on the ordeal and get a sense of how much they think the battle, sure to be years long, will cost.”

Dr Martens [LON:DOCS], Q1 Trading Statement, Thursday 29 July

Susannah Streeter, Senior Investment and Markets Analyst

‘’Dr Martens, made famous for dressing punk and grunge fans had a city style makeover with a successful IPO, but the shine has come off the bootmaker recently. Although its revenues are still forecast to grow at a double-digit pace, guidance shows they are unlikely to match the sales sprint the company saw in 2020, thanks to a 70% surge in e-commerce. Standard sizing of its iconic designs means it is likely to continue to benefit from a lower return rate, which should hold up margins. But with shoppers free to try on other rival brands, the fresh completion may stomp on its sales. The brand will be also sensitive to future fashion trends. It may now be basking in the style spotlight with the grunge look back in mode, but fashion is fickle and that could reflect in its share price down the line. Widening its footprint of styles is likely to be the path trodden in the future, but that also risks diluting the core brand.’’

Primary Health Properties [LON:PHP], Primary Health Properties, Friday 30 July

Laura Hoy, Equity Analyst

“Primary Health Properties benefits from its location in the healthcare sector—with the NHS and Ireland’s HSE making up the bulk of the group’s tenants. For that reason, we’re expecting strong rent collection to have continued through the second quarter. The larger question for PHP is portfolio growth and revenue growth potential. In the first quarter the group made just one acquisition and Covid-related disruptions kept the group from making progress on pipeline deals. At last check the group had 18 direct development projects at varying stages in the medium-term pipeline and 4 live. We’re keen to know whether progress has been made to shift some of those developments forward. The group’s Nexus acquisition is also one to watch— aside from the development opportunities that come with it, it’s expected to generate annual cost savings of £4m and we’d like to know if it’s on track to meet that goal. Finally, the group’s loan-to-value ratio has been creeping higher, rising nearly a full percentage point to 41.9% over the past year. This could become an issue if interest rates rise, so it’s worth keeping an eye on.”

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

26-Jul
CranswickQ1 Trading Statement
LVMH*Interim Results
Ryanair*Q1 Trading Statement
Tesla*Q2 Results
27-Jul
Alphabet*Q2 Trading Statement
Apple*Q3 Trading Statement
Capital & Counties PropertiesInterim Results
Croda InternationalInterim Results
FirstGroupFull Year Results
Games WorkshopFull Year Results
GreencoreQ3 Trading Statement
Microsoft*Q4 Trading Statement
MITIEQ1 Trading Statement & AGM
MoonpigFull Year Results
Polymetal InternationalQ2 Production Results
Reckitt Benckiser*Interim Results
TymanInterim Results
Unite GroupInterim Results
Virgin Money UKQ3 Trading Statement
Visa*Q3 Trading Statement
Vivo EnergyInterim Results
28-Jul
Aston Martin Lagonda*Interim Results
Barclays*Interim Results
Facebook*Q2 Results
FDM GroupInterim Results
FresnilloQ2 Production Report
GlaxoSmithKline*Q2 Results
ITV*Interim Results
Lancashire Holdings LtdQ2 Results
ManInterim Results
McDonald’s Corporation*Q2 Results
Primary Health Properties*Interim Results
Rathbone BrothersInterim Results
RHI Magnesita NVInterim Results
Rio Tinto*Interim Results
Smurfit KappaInterim Results
Spotify*Q2 Results
St. James’s PlaceInterim Results
Wizz AirQ1 Results
Moneysupermarket.comInterim Results
29-Jul
AB InBev*Q2 Trading Statement
Airtel AfricaQ1 Results
Amazon*Q2 Trading Statement
Anglo American*Interim Results
AstraZeneca*Q2 Results
BAE Systems*Interim Results
BT*Q1 Trading Statement
CMC MarketsQ1 Trading Statement
Compass*Q3 Trading Statement
Diageo*Full Year Results
Dr MartensQ1 Trading Statement
DraxInterim Results
ElementisInterim Results
EVRAZQ2 Trading Statement
Greencoat UK WindInterim Results
InchcapeInterim Results
IndiviorInterim Results
InformaInterim Results
Intermediate CapitalTrading Statement
Johnson Matthey*Q1 Trading Statement
Lloyds Banking*Interim Results
Morgan Advanced MaterialsInterim Results
National ExpressInterim Results
Nestle*Interim Results
Paragon BankingQ3 Trading Statement
RelxInterim Results
Rentokil InitialInterim Results
Royal Dutch Shell*Q2 Results
SageQ3 Trading Statement
SchrodersInterim Results
SEGROInterim Results
Smith & NephewInterim Results & Q2 Trading Statement
SpectrisInterim Results
VesuviusInterim Results
WeirInterim Results
30-Jul
AVEVATrading Update
British American Tobacco*Interim Results
EssentraInterim Results
Glencore*Interim Production Volume
IMI  ResultsInterim Results
International Consolidated AirlinesInterim Results
Intertek*Interim Results
Jupiter Fund ManagementInterim Results
NatwestInterim Results
Pearson*Interim Results
Pets at Home*Q1 Trading Statement
Rightmove*Interim Results

This article is 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.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

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