Ryanair and Microsoft results big events of week ahead

Monday

Results: Ryanair

Meetings: CPL Resources AGM.

Indicators: Irish wholesale prices (Sep).

Ryanair results

Increasingly, Ryanair’s results and performance are overshadowed by events playing out among its newly-recognised union members.

Johnny Ronan group acquires docklands site for €180m

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Ireland’s frontrunner for EU bank watchdog job faces parliament grilling

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Breon Corcoran looks set to join UK fintech group WorldRemit

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Ireland’s ‘comparatively generous’ State pension storing up problems

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First it was the unfamiliar sight of a pilot’s picket line. Then, earlier this month, the effects of that new reality coupled with high fuel prices, led to a warning that profits could dip to between €1.1 billion and €1.2 billion for the current financial year, short of the previously anticipated region of €1.24 billion to €1.35 billion.

Consequently, shares plunged 12.5 per cent to €11.48. As they did so, investors jettisoned 13.2 million shares in Dublin.

This is the backdrop against which the airline posts interim results on Monday and which led Davy to reduce its net income forecasts by 13 per cent and 15 per cent respectively for FY2019 and FY2020, to €1133m and €1219m

“Ryanair has cut its full-year traffic guide by 1 million passengers to 138 million, but this still represents 6 per cent growth and we see this rising to circa 200 million by FY2024,” it said in a note. “In terms of the short-haul market, the schedules currently suggest 7 per cent growth this winter.”

So even when it looks bad, it looks promising. Davy also pointed out that while low budget carrier must resolve its staffing issues, it is due to take delivery of 210 Max-200 aircraft from next April, with 4 per cent more seats and 16 per cent lower fuel cost.

It is a busy week for the airline sector with results also due from IAG, Norwegian Air, American Airlines, JetBlue and Boeing.

Tuesday

Results: Whitbread, JetBlue Airways, Chubb, McDonald's, Caterpillar, Harley-Davidson.

Indicators: Euro zone consumer confidence flash (Oct); UK business optimism index (Q4), industrial trends orders (Oct); German PPI (Sep).

Meetings: Chartered Institute for Securities & Investment (CISI) presentation on Integrity at Work (Westbury Hotel, Grafton Street, Dublin 2); Industry Research & Development Group's Leading Innovation for Business Growth conference (Lyrath Estate, Co Kilkenny); ESRI & European Central Bank Competitiveness Research Network (CompNet) event on international trade research (ESRI, St John Rogerson's Quay, Dublin 2); Chartered Institute for Securities & Investment in Ireland (CISI) Integrity at Work event (Westbury Hotel, Grafton Street, Dublin 2).

Wednesday

Results: Alexion Pharmaceuticals, Microsoft, Boston Scientific, Trinity Biotech, Xerox, Ford, Whirlpool, AT&T, Boeing, Brink's, Hilton Worldwide, Visa, UPS, Trivago.

Indicators: Euro zone composite, manufacturing and services PMI flash (Oct), loan growth (Sep), money supply (Sep); UK finance mortgage approvals (Sep); German composite, manufacturing and services PMI flash (Oct); US composite, manufacturing and services PMI flash (Oct), house price index (Aug).

Meetings: European Cyber Threat Summit (The Helix, DCU, Dublin).

Thursday

Results: Intel, Ardagh Group, C&C Group, Alphabet, Bristol-Myers Squibb, Merck & Co, ICON, Norwegian Air, Panalpina, Saint-Gobain Group, Amazon, American Airlines, Expedia, Twitter.

Indicators: Irish overseas travel (Sep); German business climate (Oct), expectations (Oct), current conditions (Oct).

Meetings: Euro zone interest rate decision; Launch of Internet Day 2018 for SMEs (IE Domain Registry Digital Dome, Civic Square, Gorey, Co Wexford); 2018 EY Entrepreneur Of The Year Awards (Citywest Hotel, Dublin).

2018 EY Entrepreneur Of The Year

The 2018 EY Entrepreneur Of The Year (EOY) Awards winner will be declared on Thursday.

The 21st edition of the ceremony takes place in the Citywest Hotel in Saggart and is described by EY as “one of the highlights of the Irish business calendar”.

Each year, 24 finalists are selected across three categories - emerging, industry and international.

Last year's winner was Harry Hughes, chief executive of work-wear clothing company Portwest.

Evelyn O'Toole, of CLS, took the top prize in the industry category, while Jack Teeling from the Teeling Whiskey Company won top prize in the emerging category.

This year’s finalists will join the EOY alumni community, which now has more than 500 of the island’s strongest entrepreneurs among its members. The overall winner will also go on to represent Ireland at the World awards in Monaco next year.

Collectively the EOY alumni employ more than 240,000 people and have combined revenues of €18 billion. The ceremony will be broadcast on RTE One from 23.15pm.

Friday

Results: DSV, IAG, LafargeHolcim, Aon, Moody's.

Indicators: German consumer confidence (Nov); US GDP (Q3).

Meetings: Small Firms Association Developing and Implementing Strategy Programme (Ibec, Lower Baggot Street, Dublin 2).