Inflation and recession risk: 5 most important indicators to analyze results in 2Q22

Balance sheet season starts this week and company results may be affected by the macroeconomic scenario

High interest rates, inflation, expected economic recession in the United States. The first half of 2022 brought several challenges to the global economy, which impact the results of companies around the world. The effect should be felt in the balance sheets for the second quarter of 2022, which begins this week, when companies begin to disclose their quarterly balance sheets.

A good part of investors will be attentive to the coming days, mainly due to the negative result accumulated by the Ibovespa from January until now, on average, 8% of devaluation. Opening the second quarter earnings season is Camil, who released its results last Thursday, 14th.

Next week the data will be released. Romi (ROMI3) and WEG (WEGE3). On the week of the 25th, Ambev (ABEV3), Santander (BCSA34), Vale (VALE3), Petrobras (PETR4), Gol (GOLL4), Embraer (EMBR3), Multiplan (MULT3) and others will follow up on the disclosures that occur until the end of August. Check the complete calendar at the end of the text.

How to read a company’s balance sheet?

Despite the disclosure of results being one of the moments of greatest attention for investors, not everyone knows how to interpret the data released quarterly by companies. Therefore, EXAME Invest produced the free e-book Value Indicators: how to read a company’s balance sheet to teach investors how to read and understand the value indicators present in the document released by publicly traded companies.

The material provides detailed explanations about financial statements and the impacts of these numbers on your investments. The consultancy for the production of the content was carried out with the specialists Juliana Machado (investment fund analyst) and Luis Fernando Mollo (digital equity research analyst). To download it for free, just go to the page clicking here or the button below.

What are the main indicators to analyze

The financial statements document points out the result for several different indicators in each company. Some of them are considered the most important to be analyzed, such as:

• ROE
• EBITDA
• Ebitda Margin
• Net Revenue
• Liquidity

1. ROE

ROE is the Return on Equity, translated into Portuguese, and indicates the business’ ability to add value with its own resources. In other words, equity is the capital that shareholders have put into the company, either at the launch of the shares or retained earnings over the years. How much profit this generates is the ROE.

2. EBITDA

Ebitda (earnings before interest, taxes, depreciation and amortization) shows the company’s profit without counting interest, taxes and losses in depreciation and amortization in the quarterly results. That is, it isolates the operational part of the company and, thus, “excludes” interest, which are points that do not have a cash effect.

3. Ebitda Margin

The Ebitda Margin relates Ebitda to the company’s net revenue. In practice, a higher Ebitda margin demonstrates a sign of value-added competitive advantages in the product. The indicator makes it possible to know the percentage of profitability of the company’s operation before the remuneration of third-party capital, taxes and the recovery of invested resources.

The analysis on the other main indicators is in the e-book Value Indicators: how to read a company’s balance sheetwhich can be downloaded for free HERE. The e-book also explains in detail what a company’s balance sheet is and which points are important to pay attention to when investing.

Balance sheet disclosure calendar 2nd quarter of 2022

These dates can be changed by companies

July

• Romi Industries (ROMI3) — 07/19/2022
• Weg (WEGE3) – 07/20/2022
• Atacadão/Carrefour (CRFB3) — 07/26/2022
• Neoenergia (NEOE3) — 07/26/2022
• Telefônica Vivo (VIVT3) — 07/26/2022
• Assaí/Sendas (ASAI3) — 07/27/2022
• Duratex/Dexco (DTEX3/DXCO3) — 07/27/2022
• EDP ​​Brasil (ENBR3) — 07/27/2022
• Grupo Pão de Açúcar/GPA (PCAR3/PCAR4) — 07/27/2022
• Intelbras (INTB3) — 07/27/2022
• Odontoprev (ODPV3) — 07/27/2022
• Klabin (KLBN11/KLBN3/KLBN4) — 07/27/2022
• Suzano (SUZB3) — 07/27/2022
• Ambev (ABEV3) – 07/28/2022
• Ecorodovias (ECOR3) — 07/28/2022
• Embraer (EMBR3) — 07/28/2022
• Goal (GOLL11/GOLL4) — 07/28/2022
• Locates (RENT3) – 07/28/2022
• Multiplan (MULT3) — 07/28/2022
• Petrobras (PETR3/PETR4) — 07/28/2022
• Santander Brasil (SANB11/SANB3/SANB4) — 07/28/2022
• Voucher (VALE3) – 07/28/2022
• Hypera (HYPE3) — 07/29/2022
• Raia Drogasil (RADL3) — 07/29/2022
• Usiminas (USIM3/USIM5/USIM6) — 07/29/2022

August

• Centaur/SBF Group (CNTO3/SBFG3) — 08/01/2022
• Moved (MOVI3) — 08/01/2022
• Pay Less (PGMN3) — 08/01/2022
• PetroRio (PRIO3) — 08/01/2022
• TIM (TIMP3/TIMS3) — 08/01/2022
• Cielo (CIEL3) — 08/02/2022
• Engie Brasil (EGIE3) — 08/02/2022
• Getnet (GETT3/GETT4/GETT11) — 08/02/2022
• Iguatemi (IGTA3) – 08/02/2022
• 3R Petroleum (RRRP3) — 08/03/2022
• Pan Bank (BPAN4) — 08/03/2022
• CSN (CSNA3) — 08/03/2022
• CSN Mineração (CMIN3) — 08/03/2022
• Gerdau (GGBR3/GGBR4) — 08/03/2022
• Gerdau Metalúrgica (GOAU3/GOAU4) — 08/03/2022
• Totvs (TOTS3) — 08/03/2022
• Ultrapar (UGPA3) — 08/03/2022
• AES Brasil (AESB3) — 08/04/2022
• Alpargatas (ALPA3/ALPA4) — 08/04/2022
• Bradesco (BBDC3/BBDC4) — 08/04/2022
• BR Properties (BRPR3) — 08/04/2022
• C&A (CEAB3) – 08/04/2022
• Tent Builder (TEND3) — 08/04/2022
• Fleury (FLRY3) — 08/04/2022
• JHSF Participações (JHSF3) — 08/04/2022
• Renner Stores (LREN3) — 08/04/2022
• Porto Seguro (PSSA3) — 08/04/2022
• Sanepar (SAPR3/SAPR4/SAPR11) — 08/04/2022
• Tupy (TUPY3) — 08/04/2022
• BB Seguridade (BBSE3) — 08/08/2022
• Direcional Engenharia (DIRR3) — 08/08/2022
• Itaú Unibanco (ITUB3/ITUB4) — 08/08/2022
• JSL (JSLG3) — 08/08/2022
• Marisa Stores (AMAR3) — 08/08/2022
• Miter Realty (MTRE3) — 08/08/2022
• Neogrid (NGRD3) — 08/08/2022
• Banco BTG Pactual (BPAC11/BPAC3/BPAC5) — 08/09/2022
• Caixa Security (CXSE3) — 08/09/2022
• Cury Construtora (CURY3) — 08/09/2022
• CVC (CVCB3) – 08/09/2022
• Méliuz (CASH3) — 08/09/2022
• Qualicorp (QUAL3) — 08/09/2022
• Taurus Armas (TASA3/TASA4) — 08/09/2022
• Bank of Brazil (BBAS3) — 08/10/2022
• Braskem (BRKM3/BRKM5/BRKM6) — 08/10/2022
• BRF (BRFS3) — 08/10/2022
• Equatorial Energia (EQTL3) — 08/10/2022
• Estapar/Allpark (ALPK3) — 08/10/2022
• Locaweb (LWSA3) — 08/10/2022
• Minerva (BEEF3/BEEF11/BEEF3F) — 08/10/2022
• MRV (MRVE3) – 08/10/2022
• Petrorecôncavo (RECV3) — 08/10/2022
• Smart Fit (SMFT3) — 08/10/2022
• SulAmérica (SULA11/SULA3/SULA4) — 08/10/2022
• Taesa (TAEE11/TAEE3/TAEE4) — 08/10/2022
• TC Traders (TRAD3) — 08/10/2022
• Americanas (AMER3) — 08/11/2022
• Arezzo (ARZZ3) — 08/11/2022
• Blue (BLUE4) – 08/11/2022
• B3 (B3SA3) — 08/11/2022
• BMG Bank (BMGB3) — 08/11/2022
• Banrisul (BRSR3/BRSR5/BRSR6) — 08/11/2022
• Boa Vista (BOAS3) — 08/11/2022
• Burger King Brazil (BKBR3) — 08/11/2022
• br Malls (BRML3) — 08/11/2022
• Cogna (COGN3) — 08/11/2022
• CPFL Energia (CPFE3) — 08/11/2022
• Cyrela Realty (CYRE3) — 08/11/2022
• Eneva (ENEV3) – 08/11/2022
• Energisa (ENGI11/ENGI3/ENGI4) — 08/11/2022
• Mateus Group (GMAT3) – 08/11/2022
• Grupo Soma (SOMA3)/Cia Hering (HGTX3) — 08/11/2022
• Hapvida (HAPV3/GNDI3) — 08/11/2022
• Hermes Pardini (PARD3) — 08/11/2022
• Waterways of Brazil (HBSA3) — 08/11/2022
• BMI (MEAL3) – 08/11/2022
• Infracommerce CXAAS (IFCM3) — 08/11/2022
• JBS (JBSS3) — 08/11/2022
• Light (LIGT3) — 08/11/2022
• Lojas Americanas (LAME3/LAME4) — 08/11/2022
• Magazine Luiza (MGLU3) — 08/11/2022
• Marfrig (MRFG3) — 08/11/2022
• Multilaser (MLAS3) — 08/11/2022
• Hi (OIBR3) – 08/11/2022
• Petz (PETZ3) — 08/11/2022
• D’Or Network (RDOR3) — 08/11/2022
• Course (RAIL3) – 08/11/2022
• Track & Field (TFCO4) — 08/11/2022
• Retail/Via (VVAR3/VIIA3) — 08/11/2022
• Vibra Energia (BRDT3) — 08/15/2022
• Vivara (VIVA3) — 08/11/2022
• emig (CMIG3/CMIG4) — 08/12/2022
• CESP (CESP3/CESP5/CESP6) — 08/12/2022
• Copasa (CSMG3) — 08/12/2022
• Cosan (CSAN3/RLOG3) — 08/12/2022
• Eletrobras (ELET3/ELET5/ELET6) — 08/12/2022
• Mobly (MBLY3) — 08/12/2022
• Natura Cosméticos (NTCO3) — 08/11/2022
• Nations (LCAM3) — 08/12/2022
• Let’s go (VAMO3) — 08/12/2022
• Ambipar (AMBP3) — 08/15/2022
• Anima Education (ANIM3) — 08/15/2022
• Gafisa (GFSA3) — 08/15/2022
• IRB Brasil Resseguros (IRBR3) — 08/15/2022
• Itaúsa (ITSA3/ITSA4) — 08/15/2022
• Inter (BIDI11/BIDI4/BIDI3) — 08/15/2022

Source: Exam