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Remember how The Times concluded in their last paragraph:

Analysts at Panmure Liberum said: “While the update is disappointing, it is not wholly surprising given the company had warned of serious issues and failures with [the] projects division. The underlying business, projects aside, is strong, and it is clear why Sidara would wish to acquire it.”

There are plenty of opinions here, both for and against, but ultimately it comes down to the level of risk you’re personally comfortable with. No one really knows how this will play out, so let’s be respectful of others’ views, we’re all navigating the same uncertainty.

Robert I genuinely hope so for my sake lol. I genuinely believe in this business, I think it will fly just need some cool minds

I think the real fact here is we all don’t know what the price will be offered. It’s all mere speculation

Just can’t seem to stay there

John Wood Group PLC has not yet announced the specific date for the release of its final results for the year ended 31 December 2024. Historically, the company has released its full-year results in March. For instance, the full-year trading update for 2023 was issued in March 2024. 

Given this pattern, it is anticipated that the final results for 2024 will be released in March 2025. However, as of today, 17 March 2025, no official announcement has been made. For the most accurate and up-to-date information, I recommend regularly checking Wood’s official investor relations page or their latest press releases.

Appreciate your perspective. Wood Group does seem to have a solid foundation despite recent setbacks. The SP drop was quite something, but if the core business remains strong and the issues are more about management missteps rather than structural weaknesses, there’s certainly a case for long-term recovery. Your point on human resources is spot on—strong teams and deep expertise are not easily replaced. Hopefully, the right strategic moves can turn things around. Curious to see how this plays out in the coming months

The drop this week could be down to a few factors. Market sentiment has been weak overall, and airlines are always sensitive to macro conditions—oil prices, interest rate expectations, and consumer demand trends.

Specifically for IAG, investors might be reacting to concerns about the buyback not directly reducing the share count, as “sweetie” has pointed out. If there’s any hint that these shares will be used for employee schemes rather than being canceled, it could dampen the perceived benefit of the buyback.

There might also be some profit-taking after the recent rally, given that the stock had been climbing steadily. If earnings remain stable and management provides more clarity, the share price could recover.

Anyone else have thoughts on this?

Good spot on the treasury shares. If they aren’t cancelling them and instead using them for employee schemes, then the buyback isn’t directly reducing the share count, which limits its benefit to existing shareholders. It’s something to keep an eye on in the next reports.

As for valuation, I agree that a PE below 10 seems cheap, assuming earnings hold steady. If sentiment improves and buybacks eventually lead to an actual reduction in outstanding shares, £5 doesn’t seem unreasonable. That said, macro factors and airline sector volatility could still play a big role.

Would be interesting to see if management gives more clarity on their plans for the treasury shares.

Share it then??

Why £4.36??, or is that just a personal target

Some excellent points have been raised here, particularly regarding the share count, valuation, and buyback impact. I agree that while the recent buyback is a step in the right direction, it’s not enough to make a significant dent in the overall share count. If we take the 2.848 billion additional shares post-Covid and compare it to the 91.86 million shares likely to be repurchased from the €350m buyback, we’d need around 30 similar buybacks to return to pre-Covid share levels. Given the current share price (€3.81 in Spain), this highlights how costly such an exercise would be.

It’s worth noting that the capital raising in 2020 was essential for the company’s survival during the pandemic, but it did dilute existing shareholders significantly. With the share count now at 4.84 billion compared to 1.992 billion pre-Covid, it’s clear why some struggle to see how a £4-£4.50 share price is achievable when there are more than double the shares in issue.

However, there are positive factors to consider. The company has undergone significant restructuring since 2019, becoming leaner, more efficient, and better focused. With travel demand booming, a record number of passengers, and strong operating margins, 2025 could shape up to be more profitable than 2019. This, combined with a P/E ratio of around 7 (which isn’t excessive), suggests there’s room for further growth in the share price, especially if buybacks continue and dividends return. A fair valuation at £4 doesn’t seem overly optimistic in this context.

That said, the buyback’s limited impact on the share price thus far raises questions about whether market sentiment fully reflects these operational improvements. While some competitors, like Ryanair, face issues with aircraft maintenance and availability, IAG seems to be capitalising on its scale and flexibility, which is an advantage.

Ultimately, I think it’s wise to wait for the full-year results next month before making any major decisions. If they deliver as expected, we could see a further uplift in the share price. DYOR, of course, but I remain cautiously optimistic about IAG’s prospects for 2025 and beyond.

I completely agree with you. Trying to save the NHS in its current form does feel like trying to save the Titanic. A new system, with some level of private involvement but designed to be fair, could be the way forward.

Focusing the NHS on accidents, serious or critical illnesses (prioritising children and under-70s), and providing proper care for older people makes a lot of sense. At the same time, it’s only right to expect people to take more responsibility for their own health. The system can’t keep carrying the burden of avoidable lifestyle-related issues.

This kind of approach feels much more sustainable and fair, especially for those who’ve paid into the system for most of their lives.

Interesting take, and I share some of the frustration. The recovery for IAG has been painfully slow, but I’m not sure Starmer and Reeves pose an immediate threat here. The pound dropping below $1.22 might actually benefit IAG given its significant earnings in dollars versus costs in euros and pounds. That said, a prolonged recession could certainly stall progress. LTHs deserve better after all this time—let’s hope the recovery stays on track despite the broader economic challenges.

Cracking through £3 is a big psychological milestone, and it’s great to see so much optimism in the community. While macro factors like inflation and the broader UK economy might weigh on sentiment, IAG seems to be playing its own game, catching up with peers like UAL. If oil stays stable and demand continues to rise, I wouldn’t be surprised to see further momentum into 2025. Congrats to all who held strong – it’s been a long wait, but patience is finally paying off. Onwards and upwards! 🚀🚀🚀

Some great points being made here. I agree that £3 is a psychological barrier, but once it’s breached, I think we could see a wave of FOMO buying, similar to what we saw with RR. The share buybacks are definitely helping to support the price, and with travel demand holding strong (despite macro concerns), IAG seems well-positioned.

I also think people are underestimating the impact of IAG’s own 2025 recovery strategy finally bearing fruit. With a couple of broker upgrades and some bullish New Year sentiment, £3.50 by end of Jan isn’t out of reach. It’ll be interesting to see if big holders take profits at £3 or hold for more.

Curious to hear others’ views — do you see £3 as a short-term ceiling or just a checkpoint on the way to £3.50+?

Interesting observation however it’s unlikely a trader “made 1.1m in 30 seconds” in a conventional sense. It’s more probable this was part of a larger, pre-planned trading strategy (HFT, short covering, or institutional block trade) rather than an individual mistake.

Hopefully, this sheds some light on it. Curious to hear what others think too??

IAGLONGTERM

You’re absolutely right that factors like the consolidation of profitable routes, higher ticket prices vs 2019, and the improving debt position are critical to the valuation story. I also totally take your point on the share buyback, which, if sustained, (which I’m sure it will) could partially offset the dilution argument.

Where I slightly differ is on the relevance of the 2019 comparison. While I agree that IAG today is a different business in many respects (more streamlined, potentially higher-margin, etc), I think market psychology still plays a role. Many investors, whether consciously or not, continue to anchor on pre-COVID price levels as a reference point. This might explain some of the momentum we’ve seen.

That said, I fully agree that forward projections matter far more than backward comparisons. If the market is confident that margins, pricing power, and financial health are structurally better, then the “2019-adjusted” argument becomes less relevant — as you rightly said.

If you strictly analyse IAG’s valuation using pre-COVID metrics (P/E and share price adjusted for dilution), your logic is sound. The “real” 2019-adjusted share price of 707p suggests that IAG’s current valuation has already surpassed pre-COVID levels. However, market participants might be betting on a few other factors:

• Improved growth outlook (higher future EPS, stronger margins)

• Debt reduction (better financial health)

• Sector-wide re-rating (the airline sector is seen as less risky than before)

• Momentum and market psychology (anchoring to pre-COVID share price)

In essence, while your argument is rational, market participants are likely factoring in a broader range of future growth, sector revaluation, and technical/momentum-driven factors, which may push them to target 300p or 350p.

Yeah, I missed it as well

Hampsteadboy, Bravo my friend. I think they need to open a ticker for themselves. Like you said their contribution is great but the bickering is just enough now.