UK earnings live: how will the BT, Diageo and Unilever share prices move?
Stay tuned for our live UK earnings coverage of BT, Diageo and Unilever.
BT and Diageo shares down, while Unilever stock soars
At the midpoint of Thursday's trading session, BT and Diageo shares have fallen 7% and 2% respectively in the wake of their latest quarterly earnings.
However, despite missing its sales targets and launching a review of its tea business, Unilever has seen its share price climb 2% as of 12:00 (GMT).
Looking to trade BT, Diageo, Unilever and other UK stocks? Open a live or demo account with IG.Bryan Garnier upgrades Unilever price target
The European investment bank upgraded its rating for the stock to 'buy' and £60 price target.Diageo shares edge higher depsite cutting sales outlook
Drinks maker sees its share price edge higher, trading at £31.17 as of 08:58 (GMT) on Thursday.Unilever shares after sales growth rises in 2019
The British-Dutch consumer goods company sees its share price climb more than 1% higher, trading at £44.96 as of 08:57 (GMT) on Thursday.BT: Deutsche Bank cuts target price for stock
Analysts from Deutsche Bank reiterated its 'sell' rating for BT Group, with it slashing its target price for stock to 157p, down from 169p, noting that 'risks have risen' for broadband unit.BT shares down after warning Huawei cap will cost millions
BT Group sees share price slide 4%, trading at 167p as of 08:49 (GMT) on Thursday, after investors warned that UK Government's cap on Huawei 5G will cost company £500 million.Unilever to open strategic review tea business
The British-Dutch consumer goods company has initiated a strategic review of global tea business, after unit suffers challenging year in developed markets.
Unilever tea business delivers a touch under €3 billion in revenue.
CFO Graeme Pitkethly tells reporters that sales of traditional black tea have slowed in developed markets for several years.Diageo sees double-digit growth in China
Drinks maker sees net sales increase 24% in greater China, with double-digit growth in both Chinese white spirits and Scotch whisky.Unilever: full-year results
CFO Graeme Pitkethly tells reporters that Unilever is not happy with its performance.BT: Q3 results
BT Group expects to suffer £500 million hit over the next five years due to UK cap on Huawei 5G networks.BT: Q3 results
JP Morgan slashes target price to 240p from 260p
BT share price closed at 175.34p on Wednesday.BT: Q3 results
'BT delivered results slightly below our expectations for Q3, but we remain on track to meet our outlook for full year,' CEO Philip Jansen said.BT: Q3 results
Overall financial outlook remains unchanged, with the group expecting normalised free cash flow to be in lower half of £1.9 billion - £2.1 billion full-year guidance range.BT: Q3 results
Group reports revenue of £17.24 billion and adjusted revenue of £17.19 billion, both down 2% due to ongoing headwinds from regulators, competition and legacy product declines.
Pre-tax profit of £1.91 billion and EBITDA of £5.9 billion, down 3% due to higher operating costs in Openreach unit.Unilever: full-year results
The British-Dutch consumer goods company said that there has been a signifcant slowdown in 2019 in South Asia, with some market softening in China.
Impact of Coronavirus outbreak unknown at this time, the company said.
Unilever remains on track for 2020 targets.Unilever: full-year results
Revenue up 2% with a positive impact from currency and a negative impact from spreads disposal.
Earnings per share €2.55, up 8.1%.
Underlying operating margin 19.1%, up 50BPS.Diageo: half-year results
In greater China, half-year net sales increase 24%, with double digit growth in both Chinese white spirits and scotch.
Scotch net sales grew by 4% driven by good performances from Buchanan's, Oban and Lagavulin and slightly benefited from buy-in due to tariff uncertainty.
Johnnie Walker declined 3%, lapping last year's strong performance of "White Walker by Johnnie Walker".Diageo: half-year results
Drinks maker forecasts organic net sales growth to be towards lower end of its 4% - 6% mid-term guidance range.
Diageo also expects full-year organic operating profit to grow by around 1 percentage point ahead of organic net sales.Diageo: half-year results
Interim dividend up 5% to 27.41p per share.
Underlying earnings per share up 4.2% to 80.2p
Net sales up 4.2% to £7.2 billion.
Operating profit up 0.5% to £2.4 billion.Unilever: full-year 2019 earnings preview
Unilever expects underlying sales growth for 2019 to come in slightly below its guidance of the lower half of its 3% - 5% multi-year range.
‘Due to challenges in certain markets, we expect a slight miss to our full year underlying sales growth delivery,’ Unilever CEO Alan Jope said. ‘While we expect improvement in H1 2020 versus this quarter, we expect that first half growth will be below 3%.'Diageo: half-year 2020 earnings preview
Analysts from Jefferies lowered their rating for the stock from ‘buy’ to ‘hold’ last week after ‘three very strong years of change’ for the group, with the US-based investment bank expecting a ‘more normalised outlook for growth’ in 2020.
‘[Diageo] remains a well-run, diversified company that operates in a favourable industry, however, we move to 'hold' given less conviction on the upside to street expectations with the shares now fairly valued,’ Jefferies said in a note.BT: Q3 earnings preview
Labour’s election defeat removed fears of nationalisation for its OpenReach infrastructure division, but this small piece of good news does little for the firm or for its beleaguered share price.
Investors will want to see further progress on the new superfast broadband rollout, a key intiative in retaining customers, while signs of better trading over the last few months may help stem the losses in the shares.
Forecasts point to a decline of 1.7% for Q3 revenue and 3.7% for earnings.Unilever: full-year 2019 earnings forecast
Revenue: €52 billion (Q4 €12.7 billion)
Underlying sales growth (%): 2.8%
Operating profit: €8.9 billion (operating margin: 17.1%)
Underlying earnings per share (EPS): 2.51 (underlying EPS growth: 6.7%)Diageo: half-year 2020 earnings forecast
Revenue: £7.32 billion
Pre-tax profit: £2.55 billion
Earnings per share: 81.60pBT: Q3 earnings forecast
Revenue: £5.88 billion
Operating profit: £952 million
Earnings per share: 4.56
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BT earnings summary
- Revenue of £17.25 billion, down 2%, due to ongoing headwinds from regulation, competition and legacy product declines.
- Pre-tax profit of £1.91 billion; adjusted EBITDA of £5.9 billion, down 3%, due to the fall in revenue, higher spectrum fees, investment in customer experience and higher operating costs in Openreach.
- Overall financial outlook maintained, with normalised free cash flow to be in lower half of the £1.9 billion - £2.1 billion full year guidance range.
Diageo earnings summary
- Net sales of £7.2 billion, up 4.2%.
- Operating profit £2.4 billion, up 0.5%.
- Basic earnings per share of 79.2p, down 2.1%, due to prior year exceptional gains.
- Interim dividend increased 5% to 27.41 pence per share.
Unilever earnings summary
- Turnover increased 2.0% to €52 billion.
- Underlying sales growth of 2.9%.
- Underlying earnings per share up 8.1% including a positive impact of 2.3% from currency.
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