ASX Reporting Season: February, 2022, Week 2
Rene Anthony
After a handful of bellwether names opened proceedings last week, reporting season turns up a notch over the coming days as more than 30 ASX-listed stocks deliver reports to the market.
These are some of the main stocks reporting over the coming days, while further below you can read what some of the key watch-points and issues might be that move stock prices and the market.
Commonwealth Bank (ASX: CBA): Last week Westpac (ASX: WBC) signalled that ongoing competition for home loans has continued to weigh on its margins. How will the nation largest bank fare? It will also provide a clue on the economic outlook for the country, interest rates, and in turn the property market, which it has the most exposure to of any major bank.
ANZ (ASX: ANZ) and NAB (ASX: NAB): While CBA is the undisputed frontrunner in the banking sector, first-quarter trading results from ANZ and NAB will also provide some context on how each of the Big Four have been faring amid the sector-wide margin squeeze, as well as updates on any initiatives such as cost-cutting plans to offset lower margins.
Temple & Webster (ASX: TPW): Online retailers have been facing the effects of supply chain challenges, inventory management issues, as well as the impact of inflation on consumer sentiment - will TPW fare the same as Kogan (ASX: KGN), or buck the trend?
Mineral Resources (ASX: MIN): Iron ore prices fell away sharply from their mid-year peak, but positive momentum has begun to rebuild. Keep an eye on news regarding the company lithium operations, as well as the impact of COVID-related disruptions on production as flagged in its quarterly report. MIN dividend will also be in focus as it invests to restart the Wodgina lithium mine.
AGL Energy (ASX: AGL): The company guidance may come into focus as increasing coal costs give rise to the prospect of higher electricity prices for the firm. There has been widespread discussion around closure dates for its coal power generators, but AGL recently pushed back against a proposed accelerated timeline by the Australian Energy Market Operator. Further information on demerger plans may come to light.
Unibail-Rodamco-Westfield (ASX: URW): The shopping mall operator had to deal with the widespread transmission of the Omicron variant through Europe late last year. Look out for data on footfall and occupancy, including an early update on the new year.
Suncorp (ASX: SUN) and Insurance Australia Group (ASX: IAG): Natural hazard and disaster claims will have a significant impact on both insurers' results, with each already unveiling hundreds of millions of dollars in provisions. The last estimates were provided at the end of October, which means each firm could take the opportunity to revise guidance here.
That's it for now, check back next week for the latest preview of the week ASX reporting stocks.
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