Among those currently scheduled to release results next week:
19-Jan | |
|---|---|
BHP Group | Q2 Operations Update |
Marshalls | Full Year Trading Statement |
20-Jan | |
|---|---|
4imprint Group | Full Year Trading Statement |
Kier Group | Half Year Results |
Netflix* | Q4 Results |
QinetiQ Group | Q3 Trading Statement |
21-Jan | |
|---|---|
Burberry | Q3 Trading Statement |
Currys | Trading Statement |
Experian* | Q3 Trading Statement |
Hochschild Mining | Q4 Production Results |
J D Wetherspoon* | Q2 Trading Statement |
JD Sports Fashion* | Q4 Trading Statement |
Premier Foods | Q3 Trading Statement |
Rio Tinto | Full Year Operations Review |
22-Jan | |
|---|---|
Associated British Foods* | Q1 Trading Statement |
B&M European Value Retail | Q3 Trading Statement |
Harbour Energy | Trading & Operations Update |
Wickes Group | Q4 Trading Statement |
23-Jan |
|---|
No FTSE 350 Reporters |
Investors seeking signs of Xmas cheer from J D Wetherspoon
J D Wetherspoon’s second quarter update will include the pub chain’s festive trading season. It’s also the group’s first steer on numbers since the November Budget. Coming into the period, management exercised some caution over the outlook, but industry data suggests Christmas revellers were out in force. In recent years, J D Wetherspoon has consistently outperformed the wider pub market and with sentiment having strengthened since the company last addressed the market, investors look to be expecting more of the same.
However, changes to the business rates regime and further increases in the National Living Wage are putting further pressure on pub landlords’ operating costs. Rumours are circulating over a government U-turn on business rates, but there are no guarantees. We’ll be looking for commentary on the cost base, cash flows and the group’s mitigation plans.
Netflix finds itself in an epic tale of its own making
Netflix comes into fourth‑quarter earnings next week embroiled in its own epic drama, locked in a fierce battle to buy Warner Bros while Paramount keeps pushing its hostile bid from the sidelines. Warner’s board has repeatedly rejected Paramount’s approach, reinforcing Netflix as the preferred buyer, but the ongoing uncertainty is keeping pressure on Netflix’s share price. With regulatory scrutiny and political noise growing around the deal, there are likely more twists still to come before this blockbuster reaches any kind of resolution.
Amid all that off‑screen drama, Netflix’s underlying performance looks strong. Last quarter’s 17% revenue growth is expected to be repeated, with a strong suite of festive content likely to have landed well. Still, with the takeover saga dominating the narrative and clouding visibility, it feels unlikely Netflix will unlock its full potential until the dust settles.
JD Sports likely to remain on the back foot
JD Sports went into the peak Christmas trading period on the back foot. The fashion group lowered its full-year underlying pre-tax profit guidance from £878mn to £853mn back in late November due to weak macroeconomic and consumer data points. Trading of late has been particularly soft in the UK, made more difficult by recent hikes in employer taxes and minimum wages. We’re expecting to hear that demand on home soil has remained subdued when the group releases its trading update next week.
After its acquisition of Hibbett across the pond, the US is now the group’s largest market by sales. We’re hoping to hear that its increased scale is starting to bring better efficiency, but it could be some time before it has a meaningful impact on the bottom line. In the meantime, European consumers are coming under some pressure. As a result, we wouldn’t be surprised to see full-year profit guidance get lowered again at next week’s update.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These 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. Yields are variable and not guaranteed.
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.
