The earnings season is picking up speed in Europe as well
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Orsted may pay dividend again after several years
Orsted, the Danish renewable energy utility, recently published its Q2 earnings report, which showed mixed results. The company exceeded analysts’ expectations in terms of both revenue and EBITDA, but fell short of net income estimates. Nonetheless, project developments are on track, and the company’s liquidity position remains adequate. In light of the results, management maintains its 2026 guidance, and announced dividend payment plans for 2027. Overall, Orsted keeps making good progress, so we are keeping the stock on our Equity Top Pick List.
Commodities - Technical Analysis
Gold and silver have broken their downtrends, triggering upward waves that still hold potential for further gains. After a strong retest, the oil price may settle into a range, but there are still opportunities for further gains. Natural gas prices did not reach a new low, but no pattern indicating a reversal has yet emerged. Copper is maintaining its upward trend; it must rise again within the next few days, or the rally could break down. Wheat and corn are also beginning to turn upward again from key support levels after strong retests.
Next week, the second quarter earnings season will continue in full swing: In the US, market participants will likely focus primarily on the latest figures from major technology companies, while in Europe, several banks and several automaker companies will also report. As for Hungarian blue-chip companies, Magyar Telekom and OTP will publish their second quarter earnings on August 5, followed by Mol and Richter on August 7.
As of noon on Friday, 26% of the companies in the S&P 500 had already reported their latest results; in terms of revenue, these companies reported results that were, on average, 3.3% above expectations; 72.4% of the companies that have already released their earnings reports delivered a positive surprise, while 12.6% delivered a negative surprise. In terms of EPS, companies that have published their earnings reports so far reported results that were, on average, 43.2% above expectations; 87.4% of the companies that have reported so far delivered a positive surprise, while 10.2% delivered a negative surprise.
Of the companies in the Stoxx 600 index, 25.6% have reported so far; In terms of revenue, these companies reported results that were, on average, 0.7% above expectations; among the companies that have published their earnings reports so far, 58.1% delivered a positive surprise, while 16.3% delivered a negative surprise. In terms of EPS, companies that have published their earnings reports so far reported results that were, on average, 0.5% below expectations; 49.5% of the companies that have reported so far delivered a positive surprise, while 43.9% delivered a negative surprise.
During the week of July 27, companies from the US—including Boeing, Coca-Cola, Ford, Microsoft, Meta, Amazon, and Apple—will release their earnings reports. Meanwhile, in Europe, Mercedes-Benz, Porsche, Adidas, and Ferrari, among others, will publish their latest figures. Among Hungarian blue-chip companies, Magyar Telekom and OTP will release their second quarter earnings reports on August 5, followed by Mol and Richter on August 7.
Second quarter earnings dates – 2026.07.27. – 07.31.
Second quarter earnings dates - 2026.08.03. – 08.07.
S&P500 second quarter earnings dates - 2026.07.27. – 08.07.
Stoxx 600 second quarter earnings dates - 2026.07.27. – 08.07.
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