5 European stocks to watch this earnings season amid Trump tariffs

Investors are entering the profit season of the first quarter of 2025 with a large cloud of uncertainty that hangs on the subject, which is mainly at the rates of the president of the United States, Donald Trump.

The scale of duties announced in April, together with the volatility injected by subsequent updates and reversals in politics, have even exceeded the most bearish forecasts.

The negotiators of the European Union and the United Kingdom are in conversations with US officials to try to relieve their respective blanket rates of 25% and 10%, while dealing with broader tariffs about steel, aluminum and cars. Meanwhile, the rest of the world observes to see if red -red tensions between Washington and Beijing will cool, avoiding a commercial war between the two largest economies that would have long -range repercussions.

Two important profits have already landed in Europe, providing an indication of the tone to come.

Luxury giant LVMH He said that his categories, such as beauty, wines and spirits, were vulnerable to a setback in the spending of “aspirational clientele.” Dutch semiconductor company ASMLThat the manufacturers of chief machines of global technology said the rates were “creating a new uncertainty” about demand. But Neith was able to quantify the impact scale.

Here are five other important European companies to inform profits that could face great successes of tariff agitation.

Danish shipping giant MaerskTo Bellwether for global trade, is ready to inform the profits of the first quarter on May 8. The company’s shares have been very volatile in recent weeks, moving sharply when investors react to the round trip ads of the Trump administration.

A growing commercial war between the United States and China, the two largest economies in the world, has been an important source of concern for the maritime and transport sector.

Analysts hope that the profits of the first quarter of Maersk before interest, depament, taxes and amortization (EBITDA) will reach $ 2.3 billion, according to a consensus compiled by LSE, below $ 3.6 billion in the last three months or 2024.

Maersk earlier this month described American tariffs as “significant” and, in its current form, it is not good news for the global economy, stability and commerce.

“It is still too early to say with any confidence how this will develop. Portes,” Companies “, Portes, Declaration on April 3.

Shell It is scheduled to inform the first quarter on May 2. It occurs after the British oil giant in March announced plans to increase the yields of the shareholders, reduce costs and double the impulse of liquefied natural gas (GNL).

In a subsequent commercial update, Shell cut off his LNG production perspective of the first quarter, citing non -planned maintenance, even in Australia.

Oil and gas stocks have been reached in the agitation of the market fueled with tariffs in recent weeks, with energy specialties exposed to the growing fears of recession, modern demand for oil and the fall in raw prices.

Wealth Hargreaves Lansdown’s manager analysts said earlier this month that Shell’s “Sharependant approach in efficiency and quality leaves well located to grow free cash flow and shareholders distributions.”

But he cannot control the price of oil, said Hargreaves Lansdown: “Therefore, investors must be prepared for the relatively high level of volatility that accompanies the entire sector.”

Shell is expected to report adjusted profits of the first quarter of $ 5.14 billion, according to a consensus compiled by LSEG, below $ 7.73 billion in the same period a year ago. The Energy Major reported adjusted profits $ 3.66 billion in the last three months of 2024.

Variable Income analysts have pointed out Shell as the best capital assigner among their European peers, pointing out the company’s firm commitment to cost discipline under the Wael Sawan CEO.

Germany Volkswagen Is it one of the many automotive companies that are expected to receive tariffs, particularly those of Canada and Mexico, although the results of April 30 should give a clearer indicate or how much expects to be able to ascend? Through operations.

The United States in April implemented a 25% charge in all foreign cars imported to the country, which seems to have captivated some panic purchases.

Volkswagen’s financial director, Arno Antlitz, told CNBC last month that the company was in favor of the favor or open markets, but already felt “like an American company” due to its thousands of US employees.

However, analysts warn that tariffs are especially negative for German car manufacturers exporting thousands of vehicles a year to the US. UU., While many cars produced in the country still require European manufacturing parts.

Volkswagen is expected to produce high year -in -law in the first quarter, up to 77.6 billion euros ($ 88.2 billion) of 75.5 billion euros, a consensus compiled with LSEG shows. Profit before interest and taxes (EBIT) are immersing 4.03 billion euros of 4.6 billion euros.

As geopolitical tensions increase, some have questioned whether the demand for travel will suffer or trends will change, and the results of the German Aircraft Group LufthansaOnce defeated on April 29, you could have some clues.

The Lufthansa CEO, Carsten Spohr, told CNBC at the beginning of March that he expected the global demand to generate “significantly” higher earnings in 2025 and had not seen any aboller in transatlantic reserves. But a lot has changed since then, with the scale of Trump’s rates and rhetoric that feed public anger and even boycots of American products.

The figures for March published by the International Trade Administration showed a drop of 17.2% year -on -year in the arrivals of visitors of Western Europe to the US, against a 3.4% fall in Asia and an increase of 17.7% from the Middle East.

Lufthansa Group, which includes German aircraft carriers together with the Swiss, Austrian airlines, Brussels airlines and Italia ita airways, has already been dealing with challenges that include strikes, presumptions of global prices and pressures and global pressures Boeing Delays in aircraft delivery.

According to a consensus of LSE, analysts expect the group to report revenues of around 8.07 billion euros in the first quarter, compared to 7.4 billion euros the previous year, and a loss of approximately $ 630 million, cut losses of millions, cut losses of millions, annual and $ 482 million of earnings of the previous quarter.

Drug manufacturers have little idea how their access to the critic market in the United States will be affected in the coming months.

The Trump administration said last week that he had opened an investigation into how the importation of certain pharmaceutical products affects national security, widely seen as a prelude to drug tariffs, also suggested that it occur in the next Lutnick.

There is no clarity about what size the rates will be, and when or if they will enter into force.

For the Novo Nordisk in Denmark, the second company of the largest list in Europe, which leaves exposed the United States sales of its greatly popular Ozempic and Wogovy obesity and diabetes. Merchants expect their May 7 results to give an indication of how they are preparing for that, and how much can be compensated with the “very significant” manufacturing configuration in the United States.

Emily Field, head of research of European pharmaceutical products in Barclays, told CNBC earlier this month that tariffs were the mentality of “question number 1 about investors.” “

– Karen Gilchrist of CNBC and Annika Kim Constantino Contributed reports.