As earnings season begins, investors are focusing on key companies reporting this week. Among them are major Wall Street banks like Goldman Sachs, as well as notable firms from other industries, including TSMC, Antofagasta, Vistry, and Ocado.
Goldman Sachs: Q4 Earnings Release on Wednesday, January 15
Goldman Sachs will report its fourth-quarter earnings on Wednesday, January 15. Along with JPMorgan Chase, Wells Fargo, and Citigroup, Goldman Sachs’ results will set the tone for the U.S. banking sector’s earnings season. Investors will be keen to gauge the impact of rising inflation and the U.S. Federal Reserve’s policies on the banking industry.
In its previous earnings report, Goldman Sachs saw a 45% increase in profits, driven by strong demand for debt issuance and mergers. The bank’s net income reached nearly $3 billion, up from $2 billion the previous year. Investment fees also rose by 20%, and the company’s shares have surged by 50% in the past year.
TSMC: Q4 Earnings Release on Thursday, January 16
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, posted strong revenue numbers for December. The company’s total revenue for the fourth quarter reached $868.42 billion New Taiwan dollars, exceeding forecasts.
TSMC’s figures have strengthened investor confidence in the semiconductor sector, particularly with the growing demand for AI technologies. The company has stated that it expects a gross profit margin between 57% and 59% for the quarter. Investors will focus on TSMC’s 2025 outlook, as AI demand continues to rise and the company increases its investments to keep up with demand.
Antofagasta: Q4 Production Update on Thursday, January 16
Antofagasta, a major copper producer based in Chile, will release its fourth-quarter production update. The company has forecast copper production for 2024 to fall at the lower end of its guidance range, between 670,000 and 710,000 tonnes.
Despite a 15% increase in copper production during the third quarter, Antofagasta’s CEO, Iván Arriagada, expects the destocking of concentrate inventories to continue. Looking ahead, the company anticipates copper production of 660,000 to 700,000 tonnes for 2025. Antofagasta’s stock target price has been lowered by Deutsche Bank, but the copper market is expected to recover by late 2025.
Vistry: Trading Update on Wednesday, January 15
Housebuilder Vistry will release its trading update on Wednesday, January 15, after issuing a profit warning on Christmas Eve. Vistry now expects its adjusted profit before tax to reach approximately £250 million, lower than the previously forecasted £300 million.
This decrease in profit is attributed to delays in finalizing agreements with partners and postponements in open market completions. Despite significant cash inflow at the end of the year, Vistry anticipates net debt will reach approximately £200 million. Investors will be looking for clarity on Vistry’s prospects for 2025.
Ocado: Q4 Trading Update on Tuesday, January 14
Ocado, the online grocery platform, has been gaining attention due to its strong performance during the festive period. Kantar’s market research indicates that Ocado saw the highest growth among grocers during this time.
However, investors will be keen to see the progress Ocado has made in its Technology Solutions business. The company has faced a pause in the expansion of its robotic fulfillment centers, impacted by higher interest rates. Ocado’s revenue grew by 15.5% in the third quarter, prompting the company to raise its full-year revenue guidance. Despite this, its shares are down 61% year-to-date, and investors will be looking for signs of recovery.
Related topics:
