What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- ASOS will be hoping to finish the year in style
- Heineken's stalling volumes are continuing to flatten the profit outlook
- Will Chevron challenges abroad overshadow expanding US shale footprint?
Among those currently scheduled to release results next week:
*Events on which we will be updating investors
| 23-Oct | |
|---|---|
| No FTSE 350 Reporters | |
| 24-Oct | |
|---|---|
| Alphabet* | Q3 Results |
| Anglo American | Q3 Production Report |
| Barclays* | Q3 Results |
| Bunzl* | Q3 Trading Statement |
| Coca-Cola* | Q3 Results |
| Softcat | Full Year Results |
| Travis Perkins | Q3 Trading Statement |
| Verizon* | Q3 Results |
| Visa* | Q3 Results |
| WAG Payment Solutions | Q3 Trading Statement |
| 25-Oct | |
|---|---|
| ASOS* | Full Year Results |
| Bytes Technology Group | Half Year Results |
| Fresnillo | Q3 Production Report |
| Heineken* | Q3 Results |
| Lloyds* | Q3 Interim Management Statement |
| Meta* | Q3 Results |
| Microsoft* | Q1 Results |
| Reckitt Benckiser* | Q3 Trading Statement |
| 26-Oct | |
|---|---|
| Amazon* | Q3 Results |
| C&C Group | Half Year Results |
| HarbourVest Global Private Equity | Half Year Results |
| Hunting | Q3 Trading Statement |
| Inchcape | Q3 Trading Statement |
| Renishaw | Q1 Trading Statement |
| Standard Chartered* | Q3 Results |
| Unilever* | Q3 Trading Statement |
| WPP* | Q3 Trading Statement |
| 27-Oct | |
|---|---|
| Chevron* | Q3 Results |
| International Consolidated Airlines Group* | Q3 Interim Management Statement |
| NatWest* | Q3 Results |
Read more about what's coming up in the tech world
ASOS – Aarin Chiekrie, Equity Analyst
ASOS has had a tough time lately. In last month’s trading update, we heard that fourth-quarter sales were down 15%, as a wet July and August drove a slowdown in the UK clothing market. Active customer numbers also slipped 9% lower across the full year, to 23.3m. That’s given investors plenty to be concerned about. If sentiment is to improve, ASOS’ full-year results next week are going to have to show some early signs that the ongoing transformation is bearing fruit.
The drive to trim inventory levels has made good progress so far, down around 30% year-on-year. But the discounts used to help clear this excess stock have hurt profits, and that action looks set to continue into the new financial year with more deadwood left to clear. That’s driving expectations that operating profit will land towards the lower end of the group’s £40-60m target range. How much longer until discounting the excess inventory ceases to be a drag on profit margins is a key question we’re hoping to see answered next week.
See the ASOS share price, charts and our latest view
Heineken – Aarin Chiekrie, Equity Analyst
Back at the half-year mark, we saw revenue grow 6.6% on an organic basis, as double-digit price hikes helped to offset a 5.4% drop in volumes. But the higher revenue didn’t make its way down to the bottom line, as operating profit fell year-on-year due to high input cost growth and marketing spend.
In next week’s third-quarter results, we expect to see volumes continue to struggle. European weather has been unfavourable for beer drinkers - uncharacteristically too hot or too cold, leading markets to expect a decline in quarter-on-quarter beer volumes. The Asia Pacific region, Heineken’s most profitable area, is still feeling the effects of an economic slowdown which is putting pressure on growth.
Double-digit price hikes remain the order of the day and are expected to help push third-quarter revenue up 6.1%. Whether this is enough to keep recently downgraded profit guidance on track is something we’ll be watching closely.
Overseas dividends can be subject to withholding tax which might not be reclaimable.
See the Heineken share price, charts and our latest view
Chevron – Derren Nathan, Head of Equity Research
Chevron’s third-quarter results should feel the benefit of the rise in oil prices seen during the period. Production in the key shale properties in the Permian basin is also expected to have edged up from the previous quarter. But recent months have not been without issues. Chevron’s gas fields and pipelines in the Middle East have been directly impacted by the unfolding events in Israel. We’ll also be looking for more colour on the impact of industrial action in its Australian liquid natural gas operations.
The quarter should see the first contribution from the acquisition of shale producer PDC Energy. Other recent investment areas include energy storage, hydrogen infrastructure, and carbon capture. We’d like to hear how these fit with the wider strategy as well as whether shareholder distributions will continue to take a front seat following the record level of dividends and buybacks seen in the second quarter.
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See the Chevron share price, charts and our latest view
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