Research Detail
| 2023/07/21 / Erste Group Research |
Industrial stocks with good 2Q results so far Rating changes: Intuit, Hershey Co. The 2Q23 reporting season has started in Europe and the USA. In the USA, a decline in profits of -7% Y/Y is expected. The falling profits of the US index arise from the partly very strong falling profits in the sectors: energy (-47%), commodities (-31%) and health care (-17%). In Europe, profits are also expected to decline by -8% compared to the same quarter last year. However, excluding the EUR 16.5 billion drop in profits in the energy sector, profits in Europe should have increased by +4.4%. Corporate forecasts for the coming quarters in the course of the reporting season in the US and Europe are crucial. The market consensus is currently for accelerated earnings growth of +11% Y/Y in 2024 in the US, following +7% earnings growth this year. Alfa Laval: High order intake in Energy and Marine segment, sales up +17% y/y in 2Q ASML: Order intake up again in 2Q, sales guidance for 2023 raised JPMorgan: Solid 2Q23, net interest income up +4.7% Q/Q |
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General information
| Author | Erste Group Research |
| Date | 2023/07/21 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, Switzerland, United Kingdom, United States |
| Currency in focus | British Pound, Euro, Swiss Franc, US Dollar |
| Sector in focus | Automobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities |
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| Name | ISIN | # Erste Group products |
| ServiceNow | US81762P1021 | 0 |
| Shell | GB00B03MLX29 | 0 |
| Siemens | DE0007236101 | 0 |
| Southern Co | US8425871071 | 0 |
| Starbucks | US8552441094 | 0 |
| T-Mobile US | US8725901040 | 0 |
| Taiwan Semiconductor | TW0002330008 | 0 |
| Tencent | KYG875721634 | 0 |
| Tesla | US88160R1014 | 0 |
| Thermo Fisher Scientific | US8835561023 | 0 |
| Tokyo Electron | JP3571400005 | 0 |
| TotalEnergies | FR0000120271 | 0 |
| Toyota Motor | JP3633400001 | 0 |
| UBS | CH0244767585 | 0 |
| UniCredit | IT0005239360 | 0 |
| Unilever | GB00B10RZP78 | 0 |
| UnitedHealth Group | US91324P1021 | 0 |
| Vale | BRVALEACNOR0 | 0 |
| Verizon | US92343V1044 | 0 |
| Vertex Pharmaceuticals | US92532F1003 | 0 |
| Vestas Wind Systems | DK0010268606 | 0 |
| Vinci | FR0000125486 | 0 |
| Visa | US92826C8394 | 0 |
| Volkswagen | DE0007664039 | 6 |
| Walmart | US9311421039 | 0 |