Saga investors have to hope earnings are on course

The share price has been unusually volatile since the interim results

Rather like its cruise-ship customers, shareholders in over-50s financial services and leisure group Saga (SAGA) will be hoping everything is plain sailing when the firm reports full year earnings on 4 April.

The last six months have been anything but quiet, with the shares touching all-time lows of 72p after the firm’s half-year earnings update disappointed in September, sending the stock price plunging.

That was followed by a breakneck rally to 188p as investors chased ‘value’ stocks, and another reversal this month to 128p as financial shares hit the rocks.

The firm has already cut its pre-tax earnings guidance to between £20 million and £30 million, so at the six-month stage the focus will be on claims frequency and cost inflation in the insurance business. [IC]

All eyes on the impact of the windfall tax on Enquest’s earnings

Versatile retailer is winning market share as high street and online pure-play competitors struggle

When Enquest’s (ENQ) North Sea oil and gas peer Harbour Energy (HBR) reported its 2022 results the energy profits levy nearly wiped out its entire pre-tax earnings.

This was essentially an accounting decision, with Harbour still generating $2.1 billion worth of cash flow, but it will be interesting to see if Enquest follows suit with its own full-year results (5 April) as operators look to pressure the UK Government to ease up on the sector. [TS]

Can drinkers continue to swallow price rises from Constellation Brands?

The alcoholic drinks producer is having to raise beer prices to offset inflationary pressures

American beer, wine and spirits producer Constellation Brands (STZ:NYSE) serves up results for the full year and fourth quarter ended 28 February on 6 April and investors will be thirsty for 

updates on beer market share gains and the supply chain cost pressures facing the drinks group.

Shares in the company behind Corona beer, Casa Noble tequila and wine brand Meiomi fell in early January on the news higher raw material, packing and logistics costs had offset beer sales growth in the third quarter to 30 November, driven by its Modelo Especial and Modelo Chelada brands.

The Bill Newlands-led company behind Svedka vodka also warned it planned to continue raising beer product prices to offset higher supply chain costs. [JC]

Levi Strauss needs to avoid too much discounting

Margins in focus as denim brand cuts prices to clear inventory

Iconic denim brand Levi Strauss (LEVI:NYSE) posts first quarter earnings on 6 April. The company saw some momentum in the final three months of 2022 – with earnings per share of $0.34 ahead of the forecast $0.29.

However, discounting is eating into margins, with the company looking to clear a backlog of inventory. If discounting goes too far it could undermine the integrity of the brand and affect the company’s ability to pass on higher costs in the future. [TS]

UK UPDATES OVER THE NEXT 7 DAYS

HALF-YEARLY RESULTS

31 March: James Halstead

FULL-YEAR RESULTS

31 March: MP Evans, Dignity, Computacenter

3 April: Elixirr International, Saga, Accesso Technology

4 April: Hilton Food, EnQuest, Lookers

TRADING UPDATES

31 March: Pennon

3 April: Tracsis

4 April: Anexo

5 April: RS Group

6 April: Robert Walters

US UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

3 April: Yum! Brands, Targa Resources, Science Applications

4 April: Freedom, MSC Industrial Direct, Acuity Brands

5 April: Simply Good Foods, Novagold

6 April: Constellation Brands, Levi Strauss

EUROPEAN UPDATES OVER THE NEXT 7 DAYS

QUARTERLY RESULTS

5 April: Sodexo

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