Good news is needed for Johnson Matthey PLC (LSE:JMAT), as it delivers interim results on Wednesday, November 24, though it is not clear whether it will be forthcoming after the recent profit warning.
“The numbers themselves are unlikely to provide what the group is looking for, having already said half year results are set to be ‘in-line with market expectations’,” Hargreaves analyst Nicholas Hyett said.
And the full year is expected to be even weaker, at “the lower end of market expectations” as the pandemic disrupts automotive manufacturing – the group’s key end market.
“Instead, it’s commentary around future investment opportunities that will be closely watched,” Hyett said.
Last week, Berenberg analysts predicted that the appointment of Liam Condon as JMAT’s new boss makes a break-up of the group likely. (Read the full JMAT preview here…)
Wednesday 24 November
AGMs: CVS, Genus, Renishaw
Economic announcements: Treasury’s autumn forecast statement (UK), GDP Annualised (US), Nondefence capital goods orders ex aircraft (US), Durable Goods Orders (US), FOMC minutes (US)