Analysis: Stocks

Société Générale: Q2: Record profits, upgraded guidance, bigger buyback

Earnings/Sales releasesSocGen delivered another strong Q2 26 beat, with a net income of €1.8bn and 12.2% ROTE. French Retail NII and fee momentum, plus relentless cost cuts, drove positive jaws,...

Renault: Solid H1 beat on revenue and margin, guidance confirmed amid pricing pressure

Earnings/Sales releases Renault's H1 2026 results surpassed consensus on revenue and operating margin, although profitability declined year-on-year due to significant pricing pressure. Net income fell...

KION Group: Automation strengthens as guidance becomes more attainable

Earnings/Sales releases KION delivered slightly better-than-expected Q2, with modest beats across order intake, revenue, and adjusted EBIT. Intelligent Automation Solutions was the clear driver,...

BAE Systems: BAE Systems H1 2026: Broad-based delivery lifts guidance

Earnings/Sales releases BAE Systems' H1 2026 results delivered growth across every segment, beating profitability and cash while lifting full-year guidance on all key metrics. Order intake remained...

British American Tobacco: H1 2026 in line with expectations

Earnings/Sales releases The H1 2026 results were supported by strong momentum in New categories, led by Modern Oral and the successful roll-out of Velo Plus in the United States, and a favourable...

Bucher Industries: 1H26: Challenging market conditions

Earnings/Sales releases We do not see any early signs of a recovery, and we believe the company's performance will continue to be weighed down by weakness across most of its end markets. In our view,...

ACS: ACS raises 2026 guidance

Earnings/sales releases ACS reported Q2 results broadly in line with expectations and raised guidance, helped again by Turner and the US data-centre cycle. H1 operational net profit rose 30% to...

Siltronic AG: Demand recovery gains momentum as AI strengthens wafer market outlook

Significant news Siltronic reported a solid Q2 2026, with improving wafer shipments reflecting a gradual recovery in semiconductor demand. Revenue increased 5% QoQ to EUR 322m, while the EBITDA margin...

Atos Group: Growth remains elusive

Earnings/Sales releases Atos delivered a disappointing first half. While investors expected growth to remain absent until the second half, the key setback is the prospect of another year of organic...

Verbund: H1 26: Weak hydro hits Verbund again, guidance trimmed

Earnings/Sales releases Another weak print from Verbund, with H1 26 EBITDA down 25% YoY to €1,061m versus cons. €1,153m. The miss reflects a very weak run-of-river hydro coefficient at 0.68, down...

Technip Energies: Backlog at €25bn, Project Delivery margin hit by Hormuz

Significant news Technip Energies closes a disappointing half. On Profitability, the Middle East conflict is hitting the Project Delivery margin head on, forcing management to cut its full year...

INFICON: Broad-based momentum supports higher FY26 outlook

Earnings/Sales releases Inficon delivered an outstanding Q2 2026, reporting record sales, orders and profitability as semiconductor demand accelerated across multiple end markets. Revenue increased...

Capgemini: Positive signals are piling up

Earnings/Sales releasesCapgemini delivered a strong second quarter, enabling it to achieve double-digit growth at constant exchange rates for the first half of the year. This momentum in the first six...

AIB Group: Upgraded revenue guidance

Earnings/Sales releases The group posted a good set of results. The management upgraded its net interest income guidance, pointing to a stronger-than-expected net interest margin recovery. It also...

Rolls-Royce: H1-26: Transformation at full throttle

Earnings/Sales releases Rolls-Royce delivered another broad-based beat, with strong growth in profit and cash across all divisions. Civil aerospace remains the core earnings engine, but the sharp...

Jeronimo Martins: Jeronimo Martins - Profits resilient, but Poland recovery pushed back

Earnings/Sales releases Jeronimo Martins reported mixed H1 FY26 results, with softer-than-expected sales but resilient Profitability. EBITDA and adjusted EPS exceeded consensus, supported by margin...

Vinci: H1: Cobra IS puts numbers on the data center opportunity

Earnings/Sales releases Vinci protected earnings despite weaker concession volumes. Revenue rose 2.1% to €35.6bn, while EBITDA increased by 4.5% and EPS by 10.8%. Cost control lifted margins even as...

Shell: Refining and chemicals margins at multi-year highs, buybacks stepped up

Earnings/Sales releases Shell delivers a very strong quarter, driven by refining and chemicals margins at their highest level in several years, even as persistent disruption in the Middle East...

FDJ United: Waiting longer for a recovery!

Earnings/Sales releases FDJ reported weaker-than-expected Q2'26 results, with revenue missing consensus by 3.6%, due to continued weakness in the French lottery business, while online betting & gaming...