The latest earnings season is winding down but there are still a number of major companies due to report in the week ahead.
That includes chipmaker Broadcom (AVGO), whose earnings come hot on the heel’s of Nvidia’s results, which failed to excite investors. Markets will, therefore, be looking closely at rival Broadcom’s first-quarter numbers, given lingering concerns about how big bets on AI will pay off.
In the retail sector, Costco (COST) is due to report, with strong sales growth figures having given a sense as to how the company has performed over its second fiscal quarter.
Turning to earnings in Europe, sportswear maker Adidas (ADS.DE) is scheduled to report on full-year performance, having raised its profit outlook for the year in its third quarter results.
On the UK’s FTSE 100 (^FTSE), investors will be keeping an eye on Aviva’s (AV.L) results, with shares in the financial services firm currently trading near their highest point since late 2007.
Investors will also be looking at Greggs’ full-year results for any clues on the bakery chain’s outlook for the year ahead.
Here’s more on what to expect:
Shares in Broadcom fell in the session after Nvidia delivered its fourth-quarter results, as an earnings beat and positive outlook failed to impress investors, highlighting how high the bar has become to overcome market jitters around the AI trade.
Indeed, Broadcom’s shares slid in the session after it reported fourth-quarter results in December, despite the chipmaker topping estimates on the top and bottom lines.
Broadcom reported adjusted earnings of $1.95 per share in the fourth quarter, beating expectations of $1.87. Revenue for the final quarter of its fiscal quarter came in at $18.02bn (£13.39bn) versus forecasts of $17.47bn.
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In terms of outlook, Broadcom guided to revenue of approximately $19.1m, which would be up 28% on the same period last year. The company said it expected adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to come at 67% of projected revenue.
In a note released ahead of Broadcom’s first-quarter earnings, Fabien Yip, market analyst at IG, said: “Analyst consensus reflects expectations for sustained revenue momentum, primarily driven by continued expansion in the AI semiconductor segment.
“Profitability, however, is anticipated to come under pressure as the growing contribution of lower-margin, full rack-scale AI solutions weighs on overall margins as FY2026 progresses.”
Retailer Costco has already given investors an idea of what to expect from its second quarter performance in monthly sales results.
In its most recent set of figures, released in early February, Costco reported net sales of $21.33bn in January, up 9.3% from last year. The retailer said that net sales for the first 22 weeks of its financial year came in at $123.16bn, up 8.5% on the same period last year.
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Costco’s first quarter results, released in December, beat expectations. The company reported net sales of $65.98bn, up 8.2% on the previous year, while comparable sales grew 6.4% in the first three months of its financial year.
Net income for the first quarter came in at $2bn, or $4.50 per diluted share, up from $1.8bn, or $4.04 per share, in the previous year.
Earnings of major retailers, such as Costco, are closely watched by investors to help get a sense of consumer behaviour, particularly as households continue to struggle with higher prices and broader economic uncertainty.
Shares in Costco are up 14.4% since the start of the year but are 4.4% in the red over one year, at the time of writing.
German sportswear brand Adidas (ADS.DE) reported record revenue in its third quarter results in October, with net sales up 3% to €6.6bn (£5.78bn).
Operating profit for the quarter jumped 23% to €736m, while net income increased nearly 2% to €485m and diluted earnings per share (EPS) came in at €2.57, which was 5.2% higher than the same period in 2024.
Adidas raised its guidance for full-year operating profit, saying it now expected this figure to reach around €2bn, up from a previous forecast of between €1.7bn and €1.8bn.
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“The improved profitability outlook reflects continued brand momentum, the better-than-expected business performance, as well as the company’s successful efforts to partly mitigate the additional costs resulting from increased US tariffs,” Adidas said.
Despite overall strong performance, Adidas’ net sales in North America dipped 5% in the third quarter, to just under €1.3bn.
Reuters reported that Adidas CEO Bjorn Gulden said on a call with journalists that “nervous” retailers in the US were ordering less product upfront as they waited to understand the full impact of president Donald Trump’s tariffs.
Shares fell on the back of the results and have yet to recover, with the stock down nearly 35% over one year.
Shares in Aviva (AV.L) are up nearly 25% over one year, at the time of writing, with the stock trading near their highest point since November 2007.
AJ Bell’s (AJB.L) investment experts Russ Mould, Danni Hewson and Dan Coatsworth said that Aviva’s share price performance follows “a series of disposals to slim down the business, strong earnings, consistent dividend growth and the well-received acquisition of Direct Line”.
In its November third-quarter trading update, Aviva said it was on track to achieve 2026 group targets one year early, which included delivering operating profit of £2bn ($2.7bn), saying it expected to top this figure in 2025 at around £2.2bn.
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The company also set out new three-year group targets, saying it would aim to deliver operating EPS growth at an annual compound rate of 11%, take return on equity above 20% and return £7bn in cash to shareholders.
In addition to that already guided operating profit figure, AJ Bell’s investment experts said that analysts expect to see operating EPS of 55p and a dividend of 39p per share, up from 35.7p in 2024.
“Some analysts are also suggesting that Aviva may resume share buybacks in 2026 at a rate of around £350m a year, after a gap in 2025 following the Direct Line deal, as part of the £7bn cash return programme,” AJ Bell’s Mould, Hewson and Coatsworth said.
FTSE 250-listed (^FTMC) bakery chain Greggs (GRG.L) said in its fourth-quarter trading update, published in January, that like-for-like sales grew 2.9% in the final three months of the year.
For the 2025 financial year, total sales increased 6.8% to £2.15bn compared to 2024 and were up 2.4% on a like-for-like basis.
Greggs said it had 121 net new shop openings in 2025, taking its total to 2,739 as of late December and said it expected to open around 120 net new shops in 2026.
Investors will be looking for more details on these plans, as well as on 2025 financial performance and its outlook for the year ahead, when Greggs reports its preliminary results on Tuesday.
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Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said that despite a strong end to the year for the company, “full-year pre-tax profit guidance remains intact, expected to land at around £173m, down 9% on the prior year”.
Chiekrie said that investors will be keen to hear how 2026 is shaping up so far.
“While the picture on the cost front is beginning to look more favourable, Greggs has plenty of other challenges still to wrestle with,” he said. “Unhelpful changes to tax rules and minimum wages, slowing UK economic growth, and cost-conscious consumers are all weighing on the outlook.”
“As a result, the group’s expected to say that underlying profits will flatline in 2026 when it reports next week,” Chiekrie added.
Greggs shares are down 6% year-to-date and are trading nearly 25% in the red over one year.
Monday 2 March
Smith & Nephew (SN.L)
Bunzl (BNZL.L)
RHI Magnesita (RHIM.L)
Oxford Nanopore (ONT.L)
Craneware (CRW.L)
MongoDB (MDB)
Norwegian Cruise Lines (NCLH)
Capstone Copper (CSCCF)
Tuesday 3 March
Fresnillo (FRES.L)
Inchcape (INCH.L)
Man Group (EMG.L)
IWG (IWG.L)
Travis Perkins (TPK.L)
Keller (KLR.L)
Johnson Service (JSG.L)
XP Power (XPP.L)
Reach (RCH.L)
Kier (KIE.L)
Sea (SE)
Thales (HO.PA)
ASM International (ASM.AS)
Beiersdorf (BEI.DE)
Kuhne & Nagel (KNIN.SW)
SIG (SHI.L)
Crowdstrike (CRWD)
Autozone (AZO)
ON Holding (ONON)
Best Buy (BBY)
Urban Outfitters (URBN)
Macy’s (M)
Kohl’s (KSS)
Wednesday 4 March
Weir (WEIR.L)
Vistry (VTY.L)
Metro Bank (MTRO.L)
Galliford Try (GFRD.L)
Dassault Aviation (AM.PA)
Continental (CON.DE)
Davide Campari-Milano (CPR.MI)
Evonik (EVK.DE)
Dollar Tree (DLTR)
American Eagle (AEO)
Abercrombie & Fitch (ANF)
Thursday 5 March
Reckitt Benckiser (RKT.L)
Rentokil Initial (RTO.L)
Endeavour Mining (EDV.L)
Taylor Wimpey (TW.L)
Harbour Energy (HBR.L)
Entain (ENT.L)
ITV (ITV.L)
Serco (SRP.L)
OSB (OSB.L)
Coats (COA.L)
Lancashire Holdings (LRE.L)
Elementis (ELM.L)
Spire Healthcare (SPI.L)
Hunting (HTG.L)
Pagegroup (PAGE.L)
Foxtons (FOXT.L)
JD (9618.HK)
China Unicom (0762.HK)
Prada (1913.HK)
Merck (MRK)
DHL (DHL.DE)
Universal Music Group (UMG.AS)
Marvell (MRVL)
Kroger (KR)
Ciena (CIEN)
Gap (GAP)
DocuSign (DOCU)
Friday 6 March
Lufthansa (LHA.DE)
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