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Reporting Calendar

Reporting season is upon us. In the table below you'll find the upcoming reporting dates, our stock recommendations and our company comments. Note that reporting dates as recorded below are subject to change.

For our assessment of companies that have already reported visit the Morgans Blog or the Morgans YouTube channel:

ASX Aust Securities Exchange REDUCE 17/08/2017 Low earnings growth expected for FY17.  2H17 trading volumes in futures have been soft.
EVN Evolution Mining HOLD 17/08/2017 Not expecting any surprises. Expecting FY18 guidance to be slightly ahead of the FY17 result. 
IPH IPH ADD 17/08/2017 With guidance in the market, investors will be keen to hear anything on the acquisition front.
QBE QBE Insurance Group ADD 17/08/2017 Has largely pre-released when downgrading for emerging market issues in June.
TGP 360 Capital Group HOLD 17/08/2017 Guidance in market - focus on outlook/new investments.
TNK Think Childcare and Education ADD 17/08/2017 Expect general trading update with focus on occupancy.
TLS Telstra Corporation HOLD 17/08/2017 Key to the result will be the outcome of TLS' capital management framework review (i.e. will they or won't they cut the dividend). We are broadly in line with FY17 guidance, however sit below consensus for FY18. We see the risk/reward for TLS more skewed to the downside. 
TTS Tatts Group HOLD 17/08/2017 Lower lottery jackpots and strong wagering competition should result in a soft result. The focus will be on the TAH merger.
VVR Viva Energy REIT ADD 17/08/2017 Expect no new news.
WES Wesfarmers HOLD 17/08/2017 Focus will be on performance of Coles, Bunnings UK and Target given challenging conditions. Officeworks, Kmart and Industrials expected to maintain positive momentum.
WHC Whitehaven Coal HOLD 17/08/2017 De-gearing likely to impress, looking for comment re re-instatement of FY18 dividends.
PRY Primary Health Care HOLD 18/08/2017 Pre-released (A$92m)…but where to from here…under a new CEO, revamped GP rev model and with government policies and regulations in flux.
SWL Seymour Whyte HOLD 18/08/2017 Result guided - takeover process under way. 
VTG Vita Group HOLD 18/08/2017 Comments on TLS negotiations and outlook for the base business will be key. Solid FY17 result and dividend could see a positive reaction.
APO APN Outdoor ADD 21/08/2017 Market awaiting news on renewal of key contracts.
AZY Antipa Minerals ADD 21/08/2017 Not material.
BXB Brambles HOLD 21/08/2017 Key will be performance in North America given issues in the 1H. New management expected to provide insight into growth strategy going forward.
FMG Fortescue Metals Group ADD 21/08/2017 Falling net debt, rising cash flow, and rising EPS all expected to result from exceptionally resilient iron ore prices. With its balance sheet back on firm ground we are keen to see FMG's plans for FY19 and beyond (diversification?)
GWA GWA Group HOLD 21/08/2017 Building market now declining but lag between commencements and completions should support FY17 earnings.
MHJ Michael Hill International HOLD 21/08/2017 We expect few surprises given MHJ's recent trading update. Of key interest will be commentary on margins, the competitive landscape and the outcome of its independent review into the Emma & Roe strategy (and any changes going forward). 
MVF Monash IVF HOLD 21/08/2017 Loss of key business writer will lead to cautious outlook in FY18.
NHF NIB Holdings HOLD 21/08/2017 Expect the company to hit FY17 guidance, but there is some risk to FY18 guidance on normalisation of low hospital claims utilisation trends.
RHP Rhipe Ltd ADD 21/08/2017 RHP recently provided unaudited FY17 results, so we expect no surprises. 
AMC Amcor HOLD 22/08/2017 North American and European economies are improving so should provide a solid foundation for growth. Focus will be on emerging markets given weak 1H. Balance sheet should also see an improvement.
BHP BHP Billiton ADD 22/08/2017 Possibility BHP could surprise on capital management. Cash flow and EPS expected to be well above consensus DPS forecasts (min payout ratio 40%).
CTD Corporate Travel Management ADD 22/08/2017 While fairly valued in the short term, our forecasts do not include any new acquisitions. There is plenty of market share CTD can win in big global markets which will drive top line growth. CTD also has significant leverage to an improving economy. 
CWP Cedar Woods Properties ADD 22/08/2017 FY17 guidance reaffirmed. Expect subdued FY18 outlook based on project timing risk.
ING Inghams ADD 22/08/2017 FY17 guidance could prove conservative following strong 1H17 result. ING is leveraged to positive industry trends, further benefits from Project Accelerate and is attractively priced compared to its peers. 
MGC Mg Unit Trust HOLD 22/08/2017 The asset and footprint review and removal of the MSSP will result in a large reported loss. The recent strengthening of the AUD creates some uncertainty in achieving the top end of its FY18 farmgate milk price of A$5.50/kg MS. At this point, too much uncertainty surrounds MG to warrant investment.  
MND Monadelphous Group HOLD 22/08/2017 MND has been winning considerable work and the stock has been trading strongly. Currently trading on expanded multiples, market expecting a positive result with strong outlook.  
ORG Origin Energy HOLD 22/08/2017 Expecting a strong result from Energy Markets that will carry the result. APLNG expected to be ramping up smoothly, with plenty of gas, but not producing large amounts of cash flow at current oil price.  Not expecting any dividend (debt pay down still key focus).
OSH Oil Search ADD 22/08/2017 Strong oil prices in the Dec & Mar quarters will support 1H cash flow (with oil-linked earnings 1 quarter lagged to spot). 
S32 South32 HOLD 22/08/2017 Focus likely to remain on significant net cash balance being amassed. But 2H performance unlikely to impress given operational issues at Cannington and Illawarra.
SIQ Smartgroup HOLD 22/08/2017 Expecting a strong result with Selectus synergies coming through. We see upside to consensus forecasts.
SYD Sydney Airport ADD 22/08/2017 Pax data already released. We are at the bottom of consensus with 6% EBITDA growth for 2017. Look for comments on slot bookings into northern hemisphere winter.
TPE TPI Enterprises ADD 22/08/2017  
VRT Virtus Health HOLD 22/08/2017  
WLL Wellcom Group HOLD 22/08/2017  
APA APA Group HOLD 23/08/2017 Limited risk in FY17 result. Key focus will be on FY18 guidance - we are bottom of consensus.
APE AP Eagers HOLD 23/08/2017 APE has recently provided updated guidance. We will focus on disclosure of property income and contribution from acquisitions. Cost-out, potential acquisitions and trading conditions commentary will be key. 
ATL Apollo Tourism & Leisure ADD 23/08/2017 We expect the result to come in at the mid-upper end of recently upgraded guidance (+5-10% NPAT on Prospectus forecasts). We look for commentary regarding recent acquisitions, as well as outlook commentary on forward bookings on ATL's geographical regions. 
BAP Bapcor ADD 23/08/2017 We expect BAP will achieve the mid-upper end of guidance. Key to the result will be any update on non-core asset sales, potential synergies from its warehouse optimisation and outlook commentary for FY18. 
CCL Coca-Cola Amatil HOLD 23/08/2017 We  believe there is downside risk to CCL’s FY17 guidance for a ‘broadly’ flat full year NPAT.  With earnings uncertainty, there are better places to be in the food and beverage sector. 
CWY Cleanaway Waste Management HOLD 23/08/2017 Possible FY17 surprise given tight EBITDA consensus range. Look for FY18 outlook, with EBIT boosted by lower D&A.
DTL Data#3 HOLD 23/08/2017 DTL has recently provided unaudited FY17 guidance, so we expect no surprises.
GDF GARDA Diversified Property Fund ADD 23/08/2017 FY18 guidance to be provided; focus on outlook/leasing.
HLO Helloworld HOLD 23/08/2017 Given management's track record, we expect HLO to beat guidance. However, we believe that some of the turnaround has already been factored into the share price. 
HSO Healthscope ADD 23/08/2017 No guidance (consensus c5% underlying profit growth looks reasonable)…fundamentals remain solid, but lots of known unknowns…new CEO, soft utilisation, affordability issues and brownfield progress.
IAG Insurance Australia Group HOLD 23/08/2017 Result has been pre released, focus is on guidance commentary.
MRG Murray River Organics HOLD 23/08/2017 While the result has been well guided to, it won't be flash with a reported loss, a cash outflow and high debt levels. Assuming a better season, MRG should report materially higher earnings in FY18. However, the debt level raises the possibility of the need to raise new equity. 
NSR National Storage REIT HOLD 23/08/2017 Expect FY18 guidance to be provided; focus on integration on acquisitions and performance.
QUB QUBE Holdings HOLD 23/08/2017 Guidance is for growth in FY17 - we are at bottom end of consensus. Focus on balance sheet capacity, Moorebank development, and Patrick cost-outs.
RIC Ridley Corporation HOLD 23/08/2017 FY17 has been impacted by lower earnings from RIC's higher margin sectors being Aquafeed and Dairy. We expect solid earnings growth in FY18 from a more normal season and contribution of growth projects. We think RIC is fairly valued in the near term, however its Novacq business could reward medium term investors. 
SGR The Star Entertainment Group ADD 23/08/2017 A tough consumer environment and reduced VIP activity will likely see a muted result.
SRX Sirtex Medical ADD 23/08/2017 Pre-released (dose sales 12,590 units, +5.5%)…going forward, organisational restructure should support margins, but US headwinds remain and new CEO’s strategy is unknown.
TGR Tassal Group HOLD 23/08/2017 We expect TGR to report continued earnings growth in FY17. TGR's share price has been weak following a dilutive equity raising, environmental concerns and fighting with HUO. If FY18 volume targets materialise and international salmon price remains high, the stock has been oversold. 
VOC Vocus Communications HOLD 23/08/2017 VOC  recently reaffirmed its FY17 guidance for underlying EBITDA. This implies the core business is going backwards in the 2H and we question the large intangible balance. However, we expect the share price to be influenced primarily by the two pending takeover bids on foot. 
WOW Woolworths REDUCE 23/08/2017 Turnaround strategy and business momentum in supermarkets expected to continue. Question will be how long this can be maintained given competition will only intensify in the future putting further downward pressure on margins.
WTP Watpac ADD 23/08/2017 Messy headline result with large impairments. We see the potential for a buy-back to be announced.
AJD Asia Pacific Data Centre Group HOLD 24/08/2017 Expect no new news with focus on M&A.
BGA Bega Cheese HOLD 24/08/2017 The Mondelez acquisition, higher global dairy prices and a better season should deliver strong earnings growth in FY18. We struggle with BGA's valuation which is a substantial premium to both domestic and global comps. 
BLX Beacon Lighting ADD 24/08/2017 We expect a relatively subdued 2H17 due to a softer retail environment and pull-forward of demand post Master's exit. We do not expect recent store openings have materially contributed, which could drag on FY17  earnings. We look for commentary around FY18, and the performance of recent investments (commercial/international/street lighting).
CLH Collection House HOLD 24/08/2017 Expect guidance A$19.4-20m to be hit. Cash flow will be key. Market expectations are low - may surprise.
EPW ERM Power HOLD 24/08/2017 Volatile earnings. Look for growth in USA and maturity of Australian business.
FLT Flight Centre Travel HOLD 24/08/2017 FLT will provide greater clarity on the targeted quantum of benefits from the Transformation Program with the result. However, we believe the recovery has already been priced in.
HPI Hotel Property Investments ADD 24/08/2017 Expect FY18 guidance to be provided. No revaluations expected.
ICQ Icar Asia ADD 24/08/2017 Confirmation that June quarter trends are continuing should provide share price support.
JIN Jumbo Interactive ADD 24/08/2017 While JIN has pre-guided TTV, following a strong jackpot post this date we see potential for a slight beat.
LNK Link Administration Holdings HOLD 24/08/2017 Result has been largely pre-released with the recent CAS acquisition and capital raising.
LOV Lovisa ADD 24/08/2017 We expect LOV should be able to achieve the top-end of its EBIT guidance. We look to commentary regarding the recent South Africa acquisition, an update on the UK rollout, potential new locations (Spain) and general outlook commentary for FY18. 
OSH Oil Search ADD 24/08/2017 Strong oil prices in the Dec & Mar quarters will support 1H cash flow (with oil-linked earnings 1 quarter lagged to spot). 
OTW Over The Wire ADD 24/08/2017 OTW settled a large acquisition in the 2H, which underpins FY18 (in conjunction with solid organic growth). 
OZL OZ Minerals ADD 24/08/2017 Cashflow has potential surprise, however OZL has already commented that capital management won't be considered until next half.
PPT Perpetual HOLD 24/08/2017 Equity markets have largely moved sizeways over the half, so expecting a relatively stable result.
RBL Redbubble ADD 24/08/2017  
SIO Simonds Group HOLD 24/08/2017 SIO's recent operational update pointed to lower volumes and we therefore expect the result could be lower than current consensus forecasts.
SOM SomnoMed ADD 24/08/2017 Update on RSS rollout and expectations for FY18 store count key. US and Euro sales growth pickup.
STO Santos REDUCE 24/08/2017 We see impairment risk for this result, as we suspect carrying value of GLNG and Cooper Basin may be on an elevated price deck. This could disappoint those expecting healthy 1H numbers. Operating cash flow performance will clearly be higher, as well flagged by management in recent quarterly. Not expecting any dividend.
AFG Australian Finance Group ADD 25/08/2017 Expecting result to be within guidance but slightly above mid-range of guidance. 
AHG Automotive Holdings HOLD 25/08/2017 We don’t expect too many surprises given the recent provision of guidance. Market will be looking for comfort around AHG's two cost-out programs and confirmation that Logistics remains non-core. We look to commentary regarding AHG's F&I position, which has impacted earnings due to falling financing rates.
BAL Bellamy's Australia HOLD 25/08/2017 The stock may remain volatile until Camperdown's CNCA licence is restated. If it isn't, there is material downside to our FY19 forecast. 
CMW Cromwell Property Group HOLD 25/08/2017 Focus on FY18 guidance following asset sales; leasing update and any news on potential SREIT.
EGH Eureka Group Holdings ADD 25/08/2017 Outlook on acquisition rate and pipeline as well as progress on Terranora sale key. 
MPL Medibank REDUCE 25/08/2017 Expect the company to hit FY17 guidance, but there is some risk to FY18 guidance on normalisation of low hospital claims utilisation trends.
NAN Nanosonics ADD 25/08/2017 Comments on UK infection guidelines and potential timing.
ONT 1300 Smiles ADD 25/08/2017 Organic growth is subdued. Continued focus on cost control and operational efficiencies. 
PWH PWR Holdings Limited ADD 25/08/2017 FY17 earnings will be negatively impacted by the lower GBP and higher investment costs but expecting underlying growth (ex-FX) to remain strong.
RAP ResApp Health ADD 25/08/2017 US study commentary and timeline for regulatory approval and commercialisation.
REG Regis Healthcare HOLD 25/08/2017 FY18 guidance is key - likely to be cautious.
SHJ Shine Corporation ADD 25/08/2017 Cashflow conversion is the key and a strong result here would support the investment case.
SHV Select Harvests HOLD 25/08/2017 FY17 earnings will be impacted by lower production and almond price. Assuming an average season, we expect strong earnings growth in FY18. We believe SHV is fairly priced in the absence of the almond price rising to materially higher levels than at present. 
SUL Super Retail Group ADD 25/08/2017 SUL provided updated guidance (c18% EBIT growth on the pcp) in July, therefore expect no material surprises. SUL's c7 week trading update will be of interest, as well as additional commentary on its strategy around increased competition from new market entrants. 
ADH Adairs HOLD 28/08/2017 We don’t expect too many surprises given the recent provision of guidance. Key focus areas will be ADH's 7 week trading update, inventory position and outlook commentary. 
GBT GBST Holdings ADD 28/08/2017 Market is awaiting news of completion of software rebuild and resumption of deferred client integration projects.
JHC Japara Healthcare HOLD 28/08/2017 FY18 guidance is key - likely to be cautious.
LVH Livehire ADD 28/08/2017  
MTO Motorcycle Holdings ADD 28/08/2017 We expect that MTO continues to outperform the industry. We expect a relatively in-line result, with recent acquisitions to materially contribute from FY18-onwards.
MWY Midway ADD 28/08/2017 MWY recently confirmed FY17 guidance. With the result, we are looking for an update on the company's acquisition plans. MWY will benefit from higher woodchip prices and volumes in FY18. However, with the AUD at 79c we are more cautious on MWY in the short term given the material earnings downside.
ORE Orocobre ADD 28/08/2017  
RCG RCG Corporation HOLD 28/08/2017 We expect that RCG will achieve the lower-end of its guidance range. We look to any further commentary regarding trading conditions for the first 7-8 weeks of FY18, as well as any commentary on the store rollout trajectory given recent sales trends. 
RRL Regis Resources HOLD 28/08/2017 Expecting the result to be in-line. Looking for commentary around the development of Macphillay's and FY18 guidance slightly ahead of FY17 result. 
RWC Reliance Worldwide HOLD 28/08/2017 Expect SharkBite penetration momentum to continue in the US. Key will be how the Lowe's/The Home Depot transition will play out over the next 12 months.
SKI Spark Infrastructure ADD 28/08/2017 Expecting decline in EBITDA, interest costs, and cashflow, but higher gearing and RAB. Look for cost-out and swings in working capital. 
SIV Silver Chef ADD 28/08/2017 Expecting the low-end of guidance on new funding facilities.
SLC Superloop HOLD 28/08/2017 We expect a result in line with our forecasts. Our focus is on traction in Singapore, where SLC has been operating for 24 months (and the potential read through for HK).
BKL Blackmores HOLD 29/08/2017 FY17 guidance is for NPAT to represent good growth on FY15. The key will be if BKL can achieve solid sales growth in the 4Q17. If it can generate strong growth, this will create greater confidence in BKL's FY18 growth profile.
MTR Mantra Group HOLD 29/08/2017 With challenging CBD conditions and the fatal accident at Dreamworld and Cyclone Debbie affecting the Gold Coast (one of MTR's main regions), the result is likely to come in at the bottom end of the range. Guidance may be lower than consensus.
SDA SpeedCast International HOLD 29/08/2017 SDA already flagged a weak 1H, with a large 2H skew. Commentary on the outlook and cashflow will be key. 
XIP Xenith IP Group HOLD 29/08/2017 An update on the integration of the two acquisitions will be a focus for investors.
CAT Catapult Group International ADD 30/08/2017 Market is awaiting news on more league-wide deals.
FDV Frontier Digital Ventures ADD 30/08/2017 We expect high double-digit growth in all metrics.
PPS Praemium ADD 30/08/2017 Market needs to see continuing growth in funds on platform.
RHC Ramsay Health Care ADD 30/08/2017 Guidance looks reasonable (NPAT 12-14%; A$539m-549m), domestic business likely to remain solid, helping to offset ongoing headwinds in ROW.
VMY Vimy Resources ADD 30/08/2017  
AHZ Admedus REDUCE 31/08/2017 Medical distribution division is driving growth.
EHL Emeco Holdings ADD 31/08/2017  
FNP Freedom Foods Group HOLD 31/08/2017 We believe that FNP's strong growth profile over the next few years is captured in its share price. 
FTT Factor Therapeutics ADD 31/08/2017 Top line results expected  by calendar year end.
IDT IDT Australia REDUCE 31/08/2017 New MD expected to be appointed early.
IPD ImpediMed ADD 31/08/2017 Study data and FDA clearance are key.
LGD Legend Corporation HOLD 31/08/2017 Evidence of improved cost control and margin improvement. Holding large amount of slow moving inventory so looking for a reasonable clearance of this.
MEB Medibio ADD 31/08/2017 Outlook and commentary on regulatory approvals timeline.
MQA Macquarie Atlas Roads HOLD 31/08/2017 Toll revenue already released. Focus will be on costs and potential acquisition of additional stake in APRR.
NXT NEXTDC ADD 31/08/2017 We expect NXT to come in towards the top-end of its guidance range. Commentary around new builds and customer wins will be key. Expect FY18 guidance will be broadly in line with consensus. 
WEB Webjet HOLD 31/08/2017 FY17 will benefit from market share gains in the base business, increasing online penetration, a full year's contribution from Online Republic and strong improvement in B2B. We expect management will provide a strong trading update with the result. We are buyers of WEB on weakness. 
WLD Wellard REDUCE 31/08/2017 We expect WLD to report large impairments to assets. While FY18 should be an improvement on FY17, it will likely be a challenging year. With high earnings uncertainty and elevated debt levels, WLD remains high risk. 
NHC New Hope Corporation HOLD 1/09/2017 Cashflow surprise potential. Potential acquirer at Bengalla.
TPM TPG Telecom REDUCE 19/09/2017 TPM's guidance shows EBITDA will decline in the 2H. Despite this, consensus forecasts EBITDA growth in FY18/19. We see downside risk. 
EGS Eastern Goldfields ADD 23/10/2017 Will be focused on current cash balance. Commissioning commenced in FY18.
AAD Ardent Leisure Group HOLD TBA Expect an update on the Main Event business review. Look for any commentary regarding measures to rebuild TP attendance (and profit). 
ACK Austock Group HOLD TBA  
AVH Avita Medical ADD TBA  
COH Cochlear HOLD TBA Guidance is wide ($A210-225m), with service revenue likely to be impinged by slowing processor upgrades, but the new N7 processor launch should support FY18 uplift.
IDR Industria REIT HOLD TBA Expect FY18 guidance to be provided and revaluations/leasing update.
NXT NEXTDC ADD TBA We expect NXT to come in towards the top-end of its guidance range. Commentary around new builds and customer wins will be key. Expect FY18 guidance will be broadly in line with consensus. 
RAN Range International HOLD TBA Result largely known given release of 2Q17 update. Focus from here will be on delivering sales growth.
RMD ResMed Inc ADD TBA Accessory supply issues easing, comps modest hurdles, cycling Brightree growth for the first time, but likely to remain solid. 
RVA Reva Medical ADD TBA Recently launched Fantom scaffold is likely to see a slow ramp with safety concerns lingering on a competitive product. 
SDG Sunland Group ADD TBA Expect trading update - guidance usually provided with AGM in Nov.
SFR Sandfire Resources HOLD TBA FY17 cashflow performance is well understood and FY18 well guided.