Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:

• BAE's costs are in the spotlight
• Royal Mail recovery takes centre stage for International Distribution Services
• United Utilities hoping to keep the revenue taps at full flow

Among those currently scheduled to release results next week:

*Events on which we will be updating investors

BAE Systems – Sophie Lund-Yates, Lead Equity Analyst

Next week, investors could be treated to some more details on plans for new addition Ball Aerospace. The deal demanded a hefty price tag, but it also opens up some exciting growth areas, including heightened exposure to intelligence services.

Underneath the noise, we’d like to see how overall trading’s looking – especially in the order book. We’re optimistic that things will be ticking along given the more resilient nature of having developed-world governments as core customers. Of course, there are no guarantees.

One thing to watch will be the outlook for costs. The long-term nature of many contracts means that the related risks and costs can change over time. Fluctuating energy costs in particular are worth attention.

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International Distribution Services – Matt Britzman, Equity Analyst

Now strike action’s in the rear view mirror for the Royal Mail owner, focus can now firmly turn to recapturing lost revenue. Markets will be eagerly awaiting further details as the Royal Mail recovery story takes centre stage. But the lingering pain is expected to be felt in next week’s half-year results. Back in June management guided to a first half operating loss at the division, with improvements coming over the second.

At the group level, the international business, GLS, is propping up performance and with the former GLS CEO now taking the reins of the entire group, there are some positive developments. Next up is filling the empty Royal Mail CEO seat and returning Royal Mail to profitability, all while maintaining progress at GLS. If that sounds like a lot, that's because it is. There are still substantial hurdles to overcome.

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United Utilities – Aarin Chiekrie, Equity Analyst

United Utilities recently unveiled its plans for the next regulatory period. The group is planning to invest a mammoth £13.7bn into cleaning up its act across 2025-2030, which it even describes as ambitious and stretching. To fund these investment plans, United Utilities will need to raise around £5.2bn of cash. The group’s hoping this can be done via debt, but this would push debt levels towards the top of their target range and could put pressure on future dividend payments, which are never guaranteed. We’ll be keeping a close eye on the balance sheet health in next week’s results.

Nearer term, we also heard that the group was trading in line with previous expectations, with markets expecting first-half revenue to rise 7.9% to around £992mn. We’ll also be looking for any early progress on reducing the amount of sewage being spilt into rivers and seas – something which the regulators have the power to impose huge fines for.

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