Jul 30 2026
Recent Research
CRH, Strong Q2 results; FY26 guidance reiterated
Jul 30 2026
Air France KLM, Fuel recapture rate of circa 85%
Jul 30 2026
Irish economy
Weak Q2 housing result driven by volatile apartments
Housing supply for Q2 was just 8.8k, well below our forecast for 11.2k. Volatile apartments explained all of this, with our forecast for 6.2k houses matching the result. We had previously...
Kingspan Group
H1 2026 results preview
Kingspan’s profit growth should accelerate from this year on, and the upcoming H1 results should represent a down payment on this expectation. The first half was not without its...
Smurfit Westrock
Guidance for the year lowered due to input cost inflation
Smurfit Westrock delivered Q2 adjusted EBITDA of $1,140m, broadly in line with the Visible Alpha consensus forecast of $1,152m. However, the company lowered guidance for FY 2026 by 3%...
Greencore Group
Concerns addressed; value unrecognised
We are increasing our FY26 adjusted operating profit forecast by c.4% to c.£240m, partly reflecting stronger self-help-driven profit conversion across both underlying businesses. We...
Howden Joinery
Turning up the heat in the kitchen
Revised forecasts suggest Howdens is poised to return to good earnings growth, especially in 2027 when it will benefit from a full year’s contribution from DIY Kitchens. We believe the...
hVIVO
H1 2026 trading update
hVIVO has issued a trading update for H1 2026. Earnings are in line with expectations. There has been an increase in commercial momentum with a significant expansion in the orderbook....
Diploma plc
Increasing forecasts and new price target of £84/share
We our upgrading our Diploma forecasts following the new guidance provided in the positive Q3 trading statement on July 16th. We continue to see upside risk to our forecasts looking...
Ryanair Holdings
Perfectly positioned for a tough environment
Ryanair’s effectively debt-free balance sheet and unencumbered aircraft fleet, order book and overall market position will see a widening cost advantage over its competitor set. It...
Food and beverage manufacturers
Preview of Greencore and Cranswick trading updates
Greencore and Cranswick will release their Q3-26 and Q1-27 trading updates on July 22nd and 27th respectively. We believe both companies remain particularly well positioned, with the...
Irish banks
H1 2026: cutting through the noise
A number of assertions, even if contradictory, can be true all at once. The threat of competition for Irish banks has increased but is not evident in operating performance. Interest...
