Look ahead to FTSE 350, other companies reporting and economic events from 22 June – 26 June 2026

• The demand outlook remains for Babcock
• Could the party be getting started again at Carnival?
• Are conditions improving on the ground for Sunbelt Rentals?

Babcock, Full Year Results, Monday 22^nd June
Aarin Chiekrie, equity analyst, Hargreaves Lansdown:

“Babcock heads into full-year results with good momentum. A short trading update last month revealed that full-year revenue is expected to rise around 10% to £5.3bn, ignoring exchange rates, driven by strong performances in its Nuclear and Aviation divisions. Underlying operating profits are expected to grow at a faster pace of around 19% to £433mn, as margins continue to improve. However, this excludes £140mn in one-off costs related to late-stage design changes on its Type-31 shipbuilding program.

Looking ahead, Babcock expects to grow revenues at a mid-single-digit rate next year, with around 70% of its workload already under contract. Underlying operating margins also look set to continue improving towards its mid-term target of 9%, underpinned by a strong demand outlook for its higher-margin nuclear business.”

Carnival, Q2 Results, Tuesday 23^rd June
Derren Nathan (pictured above), head of equity research, Hargreaves Lansdown: 

“There’s no confirmed date for Carnival’s second-quarter results, but after a strong start to the year, the group’s expecting to see further momentum. Guidance points to capacity growth of 1.9% and a 2.0% increase in net yields (a measure of price), before currency movements. However, averages cruise costs are also rising (guidance 2.6%), and that’s before expected fuel price increases.

Net-net, Carnival sees a small fall in second-quarter underlying cash profit (EBITDA) to $1.5bn. Since the period end, progress towards a peace deal in the Persian Gulf has helped to drive down oil prices and boost investor sentiment towards Carnival. Management struck a cautious tone in March, cutting full-year underlying cash profit guidance from $7.6bn to $7.2bn. But Carnival earns most of its money in the second half, and with some of the key risks starting to fade, hopes of an upgrade could be building.”

Sunbelt Rentals, Q4 Results, Tuesday 23^rd June
Matt Britzman (pictured above), senior equity analyst, Hargreaves Lansdown: 

“Sunbelt’s full-year results are expected to show steady progress. Analysts expect rental revenue growth to come in line with management’s 2-3% guidance, with its core North America business growing slowly and its specialist divisions performing better. Investors will be looking out for signs that construction demand is starting to improve, as well as whether higher oil prices are affecting customer spending. Consensus is looking for revenue of $11.1bn, and cash profit (EBITDA) of $4.7bn.

Focus will also be on guidance for the new financial year. Sunbelt is expected to point to slightly stronger rental revenue growth, helped by improving demand throughout the year. Consensus points to revenue of $11.6bn and cash profit (EBITDA) of $5.0bn. Growth is relatively slow, but the long-term outlook still looks appealing. It’s a leading player in a fragmented market, with room to keep winning share as more customers rent equipment rather than buy it. Plus, growing exposure to large projects, specialist equipment and maintenance work should add an element of resilience if construction markets soften.”

Among those currently scheduled to release results next week: