Earnings releases are almost over but there are still a number of major companies across different sectors due to report.
In London, Burberry will let investors gauge on how the luxury market is performing, particularly as demand in China for exclusive items appears to be waning.
From luxury to utilities, markets are waiting to see how SSE can maintain its generous dividend policy amid further sector scrutiny and net zero goals.
Shareholders in Disney will see if CEO Bob Iger still has a midas touch and in Asia, Alibaba is expected to deliver yet another quarterly growth.
In big pharma, AstraZeneca will talk to investors after having its head of China operations detained, a crucial market for the company.
Burberry has remained tight-lipped since its profit warning in July, the latest in a series of dire updates that prompted the luxury brand to halt dividend payments and announce the abrupt departure of its CEO, Jonathan Akeroyd.
The company’s struggles were laid bare further in September, when it was removed from the FTSE 100 (^FTSE) in the quarterly reshuffle.
“Demand in China is not recovering as quickly as hoped, the company’s strategy to hike prices is backfiring and leaving it with unsold stock and the discounting needed to shift that inventory only tarnishes Burberry’s credentials as a luxury brand, where lofty pricing is one of the attractions to plutocratic would-be purchasers,” AJ Bell's Russ Mould, Danni Hewson and Dan Coatsworth, said.
Now, the spotlight shifts to Joshua Schulman, Burberry’s newly appointed CEO, tasked with steering the company through these choppy waters. Schulman is a veteran in the luxury sector with leadership experience at Coach, Jimmy Choo, and Michael Kors.
Investors and analysts are keeping a close eye on rumours that Italy’s Moncler may be considering a takeover bid, speculation that has at least buoyed Burberry’s stock from its low point earlier this summer. But the main focus is set on the company’s first-half results, which are expected to reflect the ongoing struggles.
The numbers investors will be watching closely are the comparable retail sales for the first half of the financial year. Burberry reported a 21% drop in comparable retail sales in the first quarter, and analysts predict a similar decline in the second quarter. For the first half overall, a year-on-year decline in sales of around 20% is expected, with total revenues potentially dipping to ￡1.1bn, a drop from the ￡1.3bn reported in the same period the previous year.
Burberry's woes are particularly acute in key markets like Asia and the Americas, where sales have been hit by sluggish demand in China, Hong Kong, and the US. Comparable sales in Asia Pacific fell by 23% year-on-year in the first quarter of 2025, while the Americas saw a 23% drop as well.
For the full fiscal year, analysts are forecasting a 19% fall in total sales, with a rebound expected in the second half. However, the company's profits are still expected to be under pressure. Burberry is projected to report an adjusted operating loss of ￡45m for the first half, a sharp contrast to the ￡223m profit achieved in the same period last year.
“For the full year, the consensus forecast is looking for a modest operating profit of ￡30m, again to suggest better performance in the second half. All of this leaves the company a long way from the 20% profit margin target laid down by Akeroyd and it will be interesting to see if Schulman and colleagues reference that at all,” Mould, Hewson and Coatsworth, said.
SSE is set to report its first-half results on Wednesday and the timing of this update is particularly significant for several reasons, according to AJ Bell.
Firstly, utilities — a sector long in the crosshairs of both regulators and the public — have largely avoided the windfall taxes that have affected other industries. In the UK’s first budget under the new government, utilities were spared any new levies, a development that could impact both investor sentiment and long-term strategic planning within the sector.
Secondly, the sector remains under intense public and regulatory scrutiny. Consumers continue to feel the pressure from rising energy bills, exacerbated by inflation, while utility companies are expected to ramp up their environmental and investment commitments
Thirdly, Ofwat’s AMP8 regulatory determination for water companies is due in December, with potential ramifications for utilities across the board, including SSE, which is involved in energy distribution and could see its operational models affected by broader regulatory changes in the sector.
Lastly, interest rate cuts from the Bank of England, could make the dividend yields from utility stocks like SSE more attractive relative to cash, potentially boosting demand for shares in the sector, which traditionally offers stable returns.
“SSE’s shares are up by just under 10% in the past year and not far from their all-time highs. The company is a broad-ranging power play, as it generates electricity from gas-fired power stations, on and offshore wind farms and hydroelectric plants, and it also provides and runs electricity transmission and distribution networks,” Mould, Hewson and Coatsworth, said.
For SSE’s upcoming first-half results, two figures will likely grip the attention of investors, according to AJ Bell:
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Adjusted earnings per share (EPS): SSE has set a target of 13% to 16% compound annual growth between 2022 and 2027, with EPS expected to grow from 158.5p in the year to March 2024 to between 175p and 200p by 2027. However, analysts are forecasting a more modest growth rate for this year, with the benchmark for the first-half result being last year’s adjusted EPS of 37p.
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Dividend: SSE reduced its dividend in 2024 to 60p per share to fund its renewable energy transition. Looking ahead, the company plans to increase the dividend by 5% to 10% annually through 2027, with the first-half dividend payment last year standing at 20p. Investors will be keen to see whether the company can maintain its dividend growth trajectory while continuing to invest in its Net Zero ambitions.
The Walt Disney Company is a trailblazer in global entertainment, with operations that span across animation, film, television, merchandise, and theme parks. Yet, despite its portfolio, the stock is trading almost 50% below its 2021 peak of $191 per share.
While the return of Bob Iger as CEO has helped to steady the ship, investors are increasingly focused on the company’s future performance and long-term strategy. With Disney navigating shifts in the media landscape, the upcoming quarterly earnings report will offer crucial insights into the company’s trajectory and whether it can regain momentum.
Despite the broader challenges facing Disney, analysts are optimistic about its earnings growth. The consensus expectation is for Walt Disney to report a year-over-year increase in earnings, driven by higher revenues. According to Zacks Equity Research, Disney is projected to post quarterly earnings of $1.09 per share, reflecting an impressive 32.9% increase from the same period last year.
Revenues are also expected to see growth, with analysts forecasting $22.6bn in sales, marking a 6.4% year-over-year rise. If the company meets or exceeds these projections, it could provide a significant boost to investor confidence.
For the most recent quarter, Disney exceeded expectations by reporting earnings of $1.39 per share, surpassing the consensus estimate of $1.20 per share by 15.83%.
While Disney’s parks business remains a key pillar of the company’s overall performance, chief financial officer Hugh Johnston tempered expectations for the upcoming quarter. Speaking at the company’s Q3 earnings call, Johnston noted that Disney is likely to see a flattish revenue number from its parks segment in Q4, due to a slowdown in consumer spending.
Johnston said, however, that the parks slowdown would be “more than offset” by the company’s growing Entertainment business, which is expected to benefit from the release of highly anticipated films such as Moana 2 and Mufasa: The Lion King.
Over the last four quarters, Disney has consistently outperformed analysts’ earnings estimates, delivering a surprise in each period.
Alibaba Group is set to report earnings soon after China is expected to approve what could be its largest fiscal stimulus package since the pandemic—potentially providing a significant tailwind for the e-commerce giant.
The move is part of broader efforts by the government to reignite economic growth, and analysts believe that Alibaba, with its digital ecosystem spanning e-commerce, cloud computing, logistics, and digital entertainment, is well-positioned to benefit from any measures unveiled by the Chinese authorities.
This week's meeting of the Standing Committee of the National People’s Congress in Beijing is expected to finalise the details of the stimulus package, which will likely focus on enhancing domestic demand and providing support for key sectors such as technology, retail, and infrastructure. According to analysts, Alibaba, alongside its peers, stands to gain from both direct fiscal measures and the broader positive impact on consumer confidence and spending.
Despite a challenging macroeconomic environment, Alibaba has continued to deliver quarterly revenue growth, with Bloomberg Intelligence expecting more of the same in its upcoming earnings report. The company’s performance has been bolstered by an improving regulatory landscape, which has eased some of the pressures it faced in recent years. This has led to increased investor optimism, particularly as Alibaba has taken steps to streamline its operations and reduce regulatory risks under the leadership of CEO Daniel Zhang.
For Alibaba, the upcoming Singles’ Day, China’s largest annual shopping festival held on November 11, presents another opportunity as the company is likely to offer steeper discounts and other promotions to stimulate demand. These efforts are expected to be further supported by broader government initiatives, such as China’s trade-in program aimed at boosting sales of consumer goods and home appliances.
In past years, Singles’ Day has been a critical period for Alibaba, with the company generating record sales on the back of massive online shopping events.
AstraZeneca faces pressure amid disappointing trial results and an investigation in China ahead of its earnings release.
The pharmaceutical company has been hit by a series of setbacks, including disappointing late-stage clinical trial results for its antibody cancer treatment Dato-DXd and the arrest of Leon Wang, president of its Chinese operations.
China is a major market for AstraZeneca, contributing nearly $6bn in revenue in 2023. The company is the largest foreign pharmaceutical firm operating in the country, and any disruption in its Chinese operations could have significant financial implications.
Shares in AstraZeneca have dropped about 16% over the past two months, following a record high at the end of August.
Despite the challenges, AstraZeneca’s underlying business continues to show strong performance. For the first half of 2024, the company reported revenue growth of 18%, reaching $25.6bn, while core earnings per share (EPS) rose by 5% to $4.03.
Other companies reporting next week include:
Monday 11 November
Croda (CRDA.L)
Direct Line (DLG.L)
Continental (CON.DE)
Tuesday 12 November
Vodafone (VOD.L)
DCC (DCC.L)
3i Infrastructure (3IN.L)
Flutter Entertainment (FLTR.L)
Oxford Instruments (OXIG.L)
Infineon (IFNNY)
Bayer (BAYN.DE)
United Internet (UTDI.DE)
Shopify (SHOP)
Occidental Petroleum (OXY)
Live Nation (LYV)
Tyson Foods (TSN)
Grab (GRAB)
Skyworks (SWKS)
Mosaic (02M.F)
Ingram Micro (INGM)
Wednesday 13 November
Experian (EXPN.L)
Intermediate Capital (ICG.L)
Babcock (BAB.L)
Fuller Smith & Turner (FSTA.L)
Smiths Group (SMIN.L)
Secure Trust Bank (STB.L)
Rakuten (5838.T)
Tencent Holdings (0700.HK)
JD.com (JD)
Singapore Telecom (SGAPY)
Siemens Energy (0SEA.L)
RWE (RWE.DE)
ABN Amro (ABN.AS)
Alstom (ALO.PA)
Telecom Italia (TIT.MI)
Nu (NU)
Thursday 14 November
WH Smith (SMWH.L)
B&M European Value Retail (BME.L)
QinetiQ (QQ.L)
Great Portland Estates (GPE.L)
FirstGroup (FGP.L)
Premier Foods (PFD.L)
Assura (AGR.L)
Aviva (AV.L)
Spirax Group (SPX.L)
Kier (KIE.L)
Dentsu (4812.T)
Hon Hai Precision (HNHPF)
Geeley (GELYY)
Lenovo (LNVGY)
Siemens (SMMNY)
Deutsche Telekom (DTEGY)
Merck (MRK)
E.On (EONGY)
Hapag-Lloyd (HLAGF)
Applied Materials (AMAT)
Macy’s (M)
Friday 15 November
Land Securities (LAND.L)
Volex (VLX.L)
Record (REC.L)
Generali (BGN.MI)
Aegon (AEG)
Vallourec (VK.PA)
Foot Locker (FL)
You can read Yahoo Finance's full calendar here.
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