By: Jamie Murray, CFA
As earnings season gets into full swing, investors will be closely monitoring reports from several key companies. We understand that quarterly earnings provide a momentary snapshot of business performance and always take a long-term view of three to five year earning power and valuation. However, not all earnings reports carry the same weight. This quarter, some reports are more than just a scorecard; they’re potential turning points. For the companies below, which are facing leadership changes and fundamental threats to their business models, these results should help shape the investment narrative going forward.
Alphabet (GOOG): 5% target weight in MWG Global Equity Growth Fund
Report date: July 23, 2025
Alphabet finds its flagship Google Search facing an unprecedented challenge from the rise of AI alternatives, mainly OpenAI (ChatGPT). While still dominant, Google’s market share in search is being chipped away by AI-powered alternatives that are changing how users seek information. This has put a spotlight on Alphabet’s own AI strategy. The company is making substantial investments in AI, viewing it as the primary engine for future growth across its segments, including Google Cloud and YouTube. Investors will be closely scrutinizing this earnings release for any commentary on the competitive landscape of search and for concrete evidence that its significant AI expenditures are beginning to translate into sustained revenue growth and a clear path to maintaining its market leadership.
UnitedHealth Group (UNH): 3.5% target weight in MWG Global Equity Growth Fund
Report date: July 29, 2025
UnitedHealth’s earnings release will be the first under the renewed leadership of CEO Stephen Helmsley, who has returned to lead the company following a successful period from 2006 to 2017. Investors will be keen to see how the company is addressing its recently withdrawn 2025 earnings per share guidance, following a difficult Q1 report in which the company lowered its earnings guidance. The revision came amid heightened care activity within its Medicare Advantage business and unanticipated changes in the profile of Optum Health members. The company has also been contending with the fallout from a significant cybersecurity attack and rising medical costs. The upcoming report will provide critical insight into the new CEO’s strategy for navigating these challenges and steering the company back towards its long-term growth targets.
Northwest Healthcare Properties REIT (NWH.UN): 4% target weight in MWG Income Growth Fund
Report date: August 12, 2025 (estimated)
This will be the first report under its new CEO, Zachary Vaughan, who started with NWH on July 2nd. His appointment comes after a tumultuous three-year period for the REIT, which saw its unit price decline significantly in 2022. The company has been taking steps to right the ship, including strategic asset sales to reduce leverage and a focus on stabilizing its dividend, but without a clear direction, investors have been hesitant to buy in. It will be crucial in this upcoming earnings call for the new CEO to articulate his vision and set the tone for the next five years, outlining the strategies he intends to implement to restore investor confidence and unlock value from the REIT’s global portfolio of healthcare properties.