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Next week on the stock market

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

Important information - This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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Among those currently scheduled to release results next week:

  • Will ASML continue to defy the semiconductor slowdown?
  • Will Heineken's sales growth begin to flatten?
  • We’ll find out if a boost in streaming spending has helped Netflix

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

17-Apr
Ashmore Group Q3 AUM Statement
Page Group Q1 Trading Statement
Sirius Real Estate Q4 Trading Statement
18-Apr
Easyjet* Q2 Trading Update
QinetiQ Q4 Trading Statement
Netflix* Q1 Results
Ninety One Q1 AUM Statement
19-Apr
Antofagasta Q1 Production Report
ASML* Q1 Results
discoverIE Group Full Year Trading Statement
Heineken* Q1 Trading Statement
Hunting Q1 Trading Statement
IntegraFin Q2 Trading Statement
Network International Holdings Q1 Trading Statement
20-Apr
BHP Group Q3 Operational Review
Centamin Q1 Production Report
Dunelm Q3 Trading Statement
Rentokil Q1 Operational Review
Rio Tinto Q1 Operational Review
SEGRO Q1 Trading Statement
Volvo AB* Q1 Results
WH Smith Half Year Results
21-Apr
No FTSE 350 Reporters

*Events on which we will be updating investors.

ASML – Derren Nathan, Head of Equity Research

Despite difficulties in the wider semiconductor market, ASML’s virtual monopoly over certain types of advanced equipment for chip manufacturers helped the group continue to grow sales last year. However, margins were held back by factors including increased operating and research and development costs. Next week’s first quarter results should give some colour as to where margins are heading in 2023.

The 67% increase in order backlog to $40.4bn was enough to give management the confidence to guide for accelerated sales growth of 25% for this year. For the first quarter ASML expects revenue of between €6.1bn to €6.5bn including €1.5bn of revenues generated by its already-installed base of lithography machines (think replacement parts and servicing).

Whilst it doesn’t make chips itself, we’ll be looking to see whether scaled back production plans by troubled industry players such as Samsung have impacted the company’s outlook. We would also like to get clarity over the impact of additional Dutch export bans on certain of ASML product lines to China. Last year China made up 14% of total revenues.

See the ASML share price, charts and our latest view

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Heineken – Aarin Chiekrie, Equity Analyst

Heineken has shown the benefits of having strong brands during tough times. Despite a challenging economic backdrop, high-end favourites such as Heineken, Birra Moretti, and Amstel have helped drive the top line higher. When it comes to raising prices, brand power is key – allowing the group to raise prices by around 14% to combat inflation. This was a major factor in full year revenues rising 21.2% to €28.7bn, excluding the impact of exchange rates.

Next week’s trading statement will give us an early indication as to how sales levels are holding up in the new year. The main concern is if any real deterioration of beer demand comes to pass. Heineken’s sales and profits are already expected to moderate next year, flattening down to more sustainable levels of growth in the single digits. We’ll be keeping an eye out for any surprises either way on this.

See the Heineken share price, charts and our latest view

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Netflix – Sophie Lund-Yates, Lead Equity Analyst

There are some tailwinds blowing in Netflix’s favour as we look ahead to next week’s earnings. It seems people are spending more on streaming as they look to economise during the cost-of-living crisis. This clearly has potentially positive ramifications for the media giant, as does the continued roll out of its lower-priced ad-supported tier. This could help entice, and retain, consumers who are counting their pennies.

Netflix is expecting to add fewer subscribers than the target-busting 7.7m added last quarter, but revenue growth’s expected to be 8% ignoring exchange rates. We’re cautiously optimistic this target will be achieved given the helpful shift in social behaviour.

That said, as ever, competition remains tough in the sector, meaning nothing’s guaranteed. With Netflix’s valuation enjoying a 16% uplift since the start of the year, the pressure’s on.

See the Netflix share price, charts and our latest view

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Estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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Written by
Sophie Lund-Yates
Sophie Lund-Yates
Lead Equity Analyst

Sophie is a lead on our Equity Research team, providing research and regular articles on a selection of individual companies and wider sectors. Sophie's specialities are Retail, Fast Moving Consumer Goods (FMCG), Aerospace & Defence as well as a few of the big tech names including Facebook and Apple.

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Article history
Published: 14th April 2023