Earnings brief

US stock earnings,
the key summary

Earnings results, key call takeaways, the stock reaction, and what it means.

See how results stacked up against estimates, what management said, and how the stock reacted.

Summary

362 companies reported in 10/26–10/30, and 278 of 353 with an estimate beat consensus.

Reports

362

last wk 169 · 4-wk 224

Beat estimates

79%

278 of 353

last wk 78% · 4-wk 79%

Beat but fell

42%

116 of 278 priced

last wk 42% · 4-wk 44%

Rose on the day

56%

201 of 362

last wk 54% · 4-wk 52%

Revenue growth

+9.3%

median of 318

last wk +8.3% · 4-wk +8.1%

Biggest moves

Earnings-day move · 362 priced reports

GKGlaukos Corporationvs est +622.2%^†+33.65%CRCrocs Inc.vs est +11.5%+25.54%HRHerc Holdings Inc. Common Stockvs est +33.8%+22.76%FTFTAI Aviation Ltd.vs est +17.2%+17.27%

Vertiv Holdings LLC Class Avs est +21.2%+16.48%

Down

Reddit Inc. Class Avs est +5.6%-29.22%

Intel Corporationvs est +30.3%-28.58%

ServiceNow Inc.vs est -2.3%-26.95%ALAlnylam Pharmaceuticals Inc.vs est +623.0%^†-25.13%SFSprouts Farmers Market Inc.vs est -1.4%-22.58%

U.S. session

notable stocks

Fri 10/30 · 24

ExxonMobil Holdings Corporation

Strong performance in upstream and energy products with enhanced shareholder returns

Positives

▲Improved profitability in Energy Products
▲Commitment to shareholder returns
▲Balance sheet strength and cost efficiency

Concerns

▼Declining Upstream earnings
▼Margin compression in Chemical Products

“We're increasing production while improving efficiency - the result of years of consistent and disciplined investment and execution excellence.”

Strong growth in immunology and neuroscience portfolios with raised full-year guidance

Positives

▲Robust growth in immunology and neuroscience
▲Strong sales expansion of key products
▲Upward revision of full-year guidance

Concerns

▼Weakness in aesthetics and oncology segments
▼Sharp revenue decline in legacy products

“We are delivering top-tier sales and earnings growth and making significant progress advancing our pipeline. Given the strength of our business and our promising outlook, we are once again raising our full-year guidance and increasing our quarterly dividend.”

· Robert A. Michael, CEO

Earnings growth driven by higher oil prices and operational efficiency

Positives

▲Operational efficiency in refining
▲Financial strength and shareholder returns
▲Upstream production and cost competitiveness

Concerns

▼Production decline vs last year
▼Volatility in earnings and cash flow
▼One-time charges and accounting losses

“In the United States, for third quarter 2026, upstream production exceeded 2 million barrels of oil equivalent per day for the fifth consecutive quarter.”

Strong growth in oncology and pipeline delivery

Positives

▲Strong growth in oncology
▲Positive clinical pipeline results
▲Robust performance in R&I

Concerns

▼Revenue decline in biopharmaceuticals
▼Decrease in operating cash flow
▼Growth headwinds in China

“Total revenue grew 7% and core EPS increased 14%. Excluding Farxiga and Brilinta, total revenue grew 12%, demonstrating the underlying strength of our broad portfolio.”

· Pascal Soriot

Company	Timing	EPS vs est	Revenue YoY	Earnings-day
General Dynamics Corporation GD	Pre-open	—	+13%	+0.48%
Regeneron Pharmaceuticals Inc. REGN	Pre-open	+23.5%	+36%	+13.33%
Colgate-Palmolive Company CL	Pre-open	+4.8%	+5%	+2.29%
Dominion Energy Inc. D	Pre-open	+6.0%	+25%	+2.30%
Exelon Corporation EXC	Pre-open	+10.3%	+9%	+0.54%
Kenvue Inc. KVUE	Pre-open	-1.4%	—	-1.28%
Cboe Global Markets Inc. CBOE	Pre-open	+5.7%	-38%	+6.77%
Church & Dwight Company Inc. CHD	Pre-open	+2.2%	—	+1.16%
LyondellBasell Industries NV Ordinary Shares Class A (Netherlands) LYB	Pre-open	-0.4%	+10%	+5.00%
RBC Bearings Incorporated RBC	Pre-open	+5.9%	+15%	-6.76%
BrightSpring Health Services Inc. BTSG	Pre-open	+14.7%	+26%	+11.08%
Federal Realty Investment Trust FRT	Pre-open	+4.0%	+5%	-1.12%
Lear Corporation LEA	Pre-open	—	—	+0.90%
OneMain Holdings Inc. OMF	Pre-open	-3.2%	—	-4.70%
AutoNation Inc. AN	Pre-open	+0.6%	-0%	+6.08%
TXNM Energy Inc. TXNM	Pre-open	+6.3%	—	-0.46%
Sensient Technologies Corporation SXT	Pre-open	+4.0%	+11%	-10.57%
Kite Realty Group Trust KRG	Pre-open	-25.0%	—	+0.16%
Piper Sandler Companies PIPR	Pre-open	-6.5%	-8%	-7.14%
WisdomTree Inc. WT	Pre-open	+6.7%	+43%	-3.90%

Thu 10/29 · 140

Eli Lilly and Company

Strong growth in Mounjaro and Zepbound leads to full-year guidance hike

Positives

▲Explosive growth in key products
▲Upward revision of annual guidance
▲Strong volume growth in global markets

Concerns

▼Continued decline in realized prices
▼Reliance on one-time gains
▼Margin pressure from rising costs

“Revenue growth was driven by broad global consumer demand for Mounjaro and Zepbound, the global launches of Foundayo, expanded U.S. coverage for obesity care and a doubling in our newest products in oncology, immunology and neuroscience.”

· David A. Ricks, CEO

Mastercard Incorporated

Solid growth in payment network and value-added services with global market expansion

Positives

▲Balanced growth in payment network and value-added services
▲Stable upward trend in global payment metrics
▲Improved profitability and efficient cost management

Concerns

▼Deceleration in intra-Europe payment volume
▼Rapid increase in payment network incentive costs

“Our affluent spend is growing two times faster than overall credit.”

· Michael Miebach, CEO

17% revenue growth and record-high backlog achievement

Positives

▲Record Backlog and Revenue Growth
▲Profitability and Margin Expansion
▲Strong Cash Flow and Shareholder Returns

Concerns

▼Slowing Growth in Resource Industries
▼Construction Segment Q4 Headwinds
▼Persistent Manufacturing and Cost Pressures

“Strong order rates across all three of our primary segments drove backlog to a record $78 billion. That is an increase of approximately $38 billion or 96% from the third quarter last year.”

· Joe Creed, CEO

Merck & Company Inc. Common Stock (new)

Securing growth momentum through new product sales expansion and pipeline achievements

Positives

▲Growth in Key and New Products
▲Strong Vaccine Performance
▲Clinical and Regulatory Milestones

Concerns

▼Revenue Decline and Competition
▼Rising Expenses and Margin Pressure
▼Anticipated 2027 Growth Headwinds

“Total company revenues were $18.1 billion, an increase of 5%, or 4% excluding the impact of foreign exchange.”

· Caroline Litchfield (CFO)

Strong operational performance and cash flow generation through strategic asset acquisitions

Positives

▲Strong Operational Performance and Cash Flow
▲Strategic Portfolio Realignment
▲Enhanced Shareholder Distributions

Concerns

▼Margin Pressure and Rising Costs

“Our cash CapEx range for 2026 is now between $23 billion and $25 billion, which includes some $4 billion for the acquisition of ARC Resources.”

· Sinead Gorman (CFO)

Linde plc Ordinary Shares

Record sales and EPS growth alongside productivity initiatives

Positives

▲Record Sales and EPS Growth
▲Strong Operating Cash Flow
▲Robust Demand in Electronics and Industrial Markets

Concerns

▼Stagnant Operating Margins and Cost Pressures
▼Decelerating Q4 Guidance
▼Lincare Business Drag

“Linde's financial performance continued to improve in the third quarter, with record sales of $9.4 billion and record EPS of $4.59, alongside strong operating cash flow of $3.2 billion.”

Accelerated AWS growth and record-high operating margins

Positives

▲Accelerated AWS Growth
▲Record Profitability
▲Surging AI Demand

Concerns

▼Net Income Decline and Cash Flow Pressure
▼Slower Growth in Retail Segments

“AWS grew 39.3% year-over-year, accelerating for the sixth straight quarter, our fastest growth in nearly five years.”

Record growth in data center segment offset by PC market slowdown

Positives

▲Record growth in Data Center
▲Foundry process efficiency gains
▲Improved operating leverage

Concerns

▼Sharp decline in PC demand
▼Supply chain constraints and incidents
▼Persistent losses in Foundry

“We expect the 2026 PC unit TAM to decline approximately 12%, with second-half units down more than 20%.”

· David Zinsner (CFO)

Strong revenue growth driven by data center demand and improved profitability

Positives

▲Explosive growth in data center segment
▲Overall improvement in profitability
▲Shareholder returns and stock split

Concerns

▼Sharp decline in consumer segment revenue
▼Decline in operating cash flow margin
▼Increase in accounts receivable and inventory

“We have started fiscal year 2027 with another quarter of strong performance, with robust and growing demand for our products driving outpaced growth in our data center business.”

· David Goeckeler, CEO

Starbucks Corporation

Strong North American comparable sales growth and improved profitability through operational efficiency

Positives

▲Robust North American sales growth
▲Significant operating margin expansion
▲Strong EPS growth

Concerns

▼Revenue decline from China business transition
▼Revenue contraction in Channel Development
▼Slower pace of North American store openings

“In fiscal 2026, we returned to comp growth, expanded margin and delivered stronger earnings, and we intend to build on that progress in fiscal 2027.”

Revenue growth driven by HIV and Oncology segments with raised full-year guidance

Positives

▲Strong growth in HIV business
▲Expansion of Oncology and Liver Disease portfolios
▲Upward revision of annual revenue guidance

Concerns

▼Decline in Cell Therapy segment
▼Decrease in net income and rising expenses
▼Sharp drop in Veklury sales

“Gilead delivered an exceptional third quarter that highlights the strength, breadth, and durability of the business. Third quarter base business sales were up 16% year-over-year, Gilead's strongest growth in more than a decade.”

Full-year guidance lowered due to hip and knee market slowdown and operational challenges

Positives

▲Solid Organic Sales Growth
▲Margin Expansion and Efficiency
▲Strong Cash Flow and Shareholder Returns

Concerns

▼Hip and Knee Market Slowdown
▼Operational Challenges and Execution
▼Downward Revision of Guidance

“While we delivered solid growth in several businesses, our overall results fell short of our expectations. In the U.S., we are seeing slower procedural growth amid affordability concerns from higher insurance premiums and deductibles.”

· Kevin Lobo, CEO

Company	Timing	EPS vs est	Revenue YoY	Earnings-day
Bristol-Myers Squibb Company BMY	Pre-open	+14.9%	+7%	+1.35%
Altria Group Inc. MO	Pre-open	+0.9%	+1%	+5.15%
Howmet Aerospace Inc. HWM	Pre-open	+6.5%	+29%	+5.51%
Trane Technologies plc TT	Pre-open	+2.6%	+18%	-3.87%
Quanta Services Inc. PWR	Pre-open	+20.5%	+57%	+4.66%
Intercontinental Exchange Inc. ICE	Pre-open	+2.5%	+21%	+4.54%
Enterprise Products Partners L.P. EPD	Pre-open	+2.9%	+49%	+2.60%
Cheniere Energy Inc. LNG	Pre-open	-23.3%	+44%	+7.11%
CRH PLC Ordinary Shares CRH	Pre-open	+2.8%	+3%	+4.71%
Carrier Global Corporation Common Stock CARR	Pre-open	+13.4%	+12%	-1.30%
Xcel Energy Inc. XEL	Pre-open	+9.1%	—	+2.41%
L3Harris Technologies Inc. LHX	Pre-open	+11.2%	+7%	+6.84%
Ameriprise Financial Inc. AMP	Pre-open	-4.3%	+5%	+1.65%
D.R. Horton Inc. DHI	Pre-open	-11.1%	-3%	+2.47%
The Hershey Company HSY	Pre-open	+25.1%	+3%	-2.13%
Vulcan Materials Company (Holding Company) VMC	Pre-open	+0.4%	-5%	+5.78%
WEC Energy Group Inc. WEC	Pre-open	+20.5%	+9%	+3.74%
EMCOR Group Inc. EME	Pre-open	+15.0%	+29%	+1.59%
Willis Towers Watson Public Limited Company Ordinary Shares WTW	Pre-open	+1.2%	+10%	-0.28%
Alnylam Pharmaceuticals Inc. ALNY	Pre-open	+623.0%^†	+89%	-25.13%
Ares Management Corporation Class A ARES	Pre-open	+0.7%	-36%	+2.95%
Cognizant Technology Solutions Corporation Class A CTSH	Pre-open	+1.8%	+5%	-5.79%
ATI Inc. ATI	Pre-open	+6.8%	+27%	+5.87%
West Pharmaceutical Services Inc. WST	Pre-open	+21.1%	+9%	+3.23%
Insmed Incorporated INSM	Pre-open	-23.7%	+268%	+15.06%
Incyte Corp. INCY	Pre-open	+6.9%	+14%	-0.06%
Tradeweb Markets Inc. Class A TW	Pre-open	+0.5%	+15%	-0.78%
T. Rowe Price Group Inc. TROW	Pre-open	+8.0%	+6%	+2.53%
XPO Inc. XPO	Pre-open	+8.0%	+12%	+0.73%
Entegris Inc. ENTG	Pre-open	+20.1%	+25%	+0.43%
Tenet Healthcare Corporation THC	Pre-open	+42.0%	+7%	+0.77%
Bunge Limited Common Shares BG	Pre-open	+5.6%	+7%	-4.74%
FTAI Aviation Ltd. FTAI	Pre-open	+17.2%	+47%	+17.27%
APi Group Corporation APG	Pre-open	+6.3%	+23%	+8.90%
Hyatt Hotels Corporation Class A H	Pre-open	+66.8%	-2%	+6.32%
WESCO International Inc. WCC	Pre-open	+23.0%	+17%	+5.61%
Kimco Realty Corporation (HC) KIM	Pre-open	+39.3%	+2%	+4.36%
Textron Inc. TXT	Pre-open	+22.2%	+4%	+11.67%
Avery Dennison Corporation AVY	Pre-open	+4.1%	+5%	+0.75%
Baxter International Inc. BAX	Pre-open	+11.9%	+5%	-7.70%
DT Midstream Inc. Common Stock DTM	Pre-open	+3.1%	—	+1.75%
BorgWarner Inc. BWA	Pre-open	+11.1%	-3%	-4.70%
Huntington Ingalls Industries Inc. HII	Pre-open	+23.8%	+11%	+13.23%
Life Time Group Holdings Inc. LTH	Pre-open	+12.8%	+14%	+5.12%
Kymera Therapeutics Inc. KYMR	Pre-open	-4.2%	-100%	+0.07%
Cullen/Frost Bankers Inc. CFR	Pre-open	+1.2%	+10%	+0.54%
Oshkosh Corporation (Holding Company)Common Stock OSK	Pre-open	-21.4%	+6%	-1.93%
Saia Inc. SAIA	Pre-open	+3.4%	+17%	+5.68%
SiriusXM Holdings Inc. SIRI	Pre-open	-0.8%	-0%	+4.94%
InterDigital Inc. IDCC	Pre-open	+66.5%	+17%	+4.28%
A.O. Smith Corporation AOS	Pre-open	+3.9%	-0%	+4.32%
PBF Energy Inc. Class A PBF	Pre-open	+15.1%	+59%	+3.08%
IDACORP Inc. IDA	Pre-open	+8.7%	+16%	+2.78%
Norwegian Cruise Line Holdings Ltd. Ordinary Shares NCLH	Pre-open	+19.1%	+0%	+13.45%
AGCO Corporation AGCO	Pre-open	+21.5%	-9%	+5.56%
Builders FirstSource Inc. BLDR	Pre-open	+44.8%	-2%	+12.85%
Federal Signal Corporation FSS	Pre-open	+1.9%	+18%	+1.55%
Allegro MicroSystems Inc. ALGM	Pre-open	+8.3%	+29%	-6.62%
LKQ Corporation LKQ	Pre-open	-6.5%	-5%	+5.29%
GATX Corporation GATX	Pre-open	+18.7%	+36%	+6.87%
Blue Owl Capital Inc. Class A OWL	Pre-open	+4.3%	+11%	+7.65%
Ligand Pharmaceuticals Incorporated LGND	Pre-open	+14.7%	-32%	-0.45%
Crocs Inc. CROX	Pre-open	+11.5%	+5%	+25.54%
Portland General Electric Co POR	Pre-open	-5.4%	+2%	-0.18%
Granite Construction Incorporated GVA	Pre-open	+14.5%	+23%	+8.97%
CNX Resources Corporation CNX	Pre-open	+8.1%	-1%	-3.31%
CSW Industrials Inc. CSW	Pre-open	+0.8%	+31%	-0.36%
Brunswick Corporation BC	Pre-open	+18.8%	+7%	+8.00%
Graham Holdings Company GHC	Pre-open	+2.2%	+9%	-0.69%
Laureate Education Inc. LAUR	Pre-open	+13.2%	+21%	-0.96%
KBR Inc. KBR	Pre-open	+12.0%	+5%	-4.53%
Belden Inc BDC	Pre-open	-0.1%	+38%	+0.77%
CCC Intelligent Solutions Holdings Inc. CCC	Pre-open	+18.2%	+13%	+0.13%
Silgan Holdings Inc. SLGN	Pre-open	+4.9%	+2%	+4.11%
FTI Consulting Inc. FCN	Pre-open	+40.0%	+6%	+14.28%
Integer Holdings Corporation ITGR	Pre-open	-20.2%	-4%	-0.02%
Mondelez International Inc. Class A MDLZ	After close	+10.2%	—	+3.85%
Arthur J. Gallagher & Co. AJG	After close	+0.5%	—	+2.93%
Republic Services Inc. RSG	After close	+0.6%	—	+3.28%
Vale VALE	After close	-30.7%	—	+1.88%
Monolithic Power Systems Inc. MPWR	After close	+5.7%	+63%	+1.07%
Digital Realty Trust Inc. DLR	After close	+5.7%	+21%	-1.21%
Strategy Inc Common Stock Class A MSTR	After close	+95.5%	-3%	-7.84%
Coinbase Global Inc. Class A COIN	After close	+3037.5%^†	-36%	-10.62%
Illumina Inc. ILMN	After close	+6.1%	+4%	-18.64%
Roblox Corporation Class A RBLX	After close	+23.7%	—	-18.05%
DexCom Inc. DXCM	After close	+8.3%	—	+2.95%
Twilio Inc. Class A TWLO	After close	+12.4%	+20%	-15.24%
ResMed Inc. RMD	After close	+8.9%	+6%	-9.05%
Rocket Companies Inc. Class A RKT	After close	+15.4%	—	+7.38%
Ingersoll Rand Inc. IR	After close	+11.9%	+6%	+0.05%
Reddit Inc. Class A RDDT	After close	+5.6%	+53%	-29.22%
Edison International EIX	After close	+6.1%	—	-0.99%
Veralto Corp Common Stock VLTO	After close	—	+8%	+6.77%
First Solar Inc. FSLR	After close	+14.3%	-23%	-1.41%
Rivian Automotive Inc. Class A RIVN	After close	+13.5%	—	+6.20%
Alliant Energy Corporation LNT	After close	+16.2%	—	+1.37%
Weyerhaeuser Company WY	After close	+100.0%^†	—	+3.04%
MasTec Inc. MTZ	After close	+0.1%	—	+4.63%
Exelixis Inc. EXEL	After close	—	+10%	+4.82%
Pinterest Inc. Class A PINS	After close	-5.2%	—	-2.81%
BridgeBio Pharma Inc. BBIO	After close	+24.6%	+193%	+5.97%
GoDaddy Inc. Class A GDDY	After close	+9.6%	+6%	+10.72%
Gaming and Leisure Properties Inc. GLPI	After close	-16.5%	+10%	-1.29%
DaVita Inc. DVA	After close	+6.9%	+5%	-3.01%
SPX Technologies Inc. SPXC	After close	+5.6%	+21%	-4.37%
Mohawk Industries Inc. MHK	After close	—	+1%	+7.25%
AptarGroup Inc. ATR	After close	+3.3%	—	+5.02%
Eastman Chemical Company EMN	After close	-4.0%	+8%	-2.06%
Ingram Micro Holding Corporation INGM	After close	+17.2%	—	-0.73%
Credit Acceptance Corporation CACC	After close	+4.3%	—	-19.26%
Healthcare Realty Trust Incorporated HR	After close	—	—	+1.99%
PTC Therapeutics Inc. PTCT	After close	-243.9%^†	+70%	-6.97%
Floor & Decor Holdings Inc. FND	After close	+7.5%	+3%	-5.46%
Axos Financial Inc. AX	After close	+3.7%	—	-2.34%
Schneider National Inc. SNDR	After close	-1.3%	+9%	-0.75%
Merit Medical Systems Inc. MMSI	After close	+7.8%	+8%	-7.66%
CNO Financial Group Inc. CNO	After close	+72.3%	-9%	+4.53%
TFS Financial Corporation TFSL	After close	+0.0%	—	-1.97%
Cousins Properties Incorporated CUZ	After close	+10.0%	—	+1.58%
Federated Hermes Inc. FHI	After close	+3.9%	+8%	+0.81%
Miami International Holdings Inc. MIAX	After close	+20.8%	-61%	+6.97%
AXT Inc AXTI	After close	+33.1%	+163%	-9.56%
Cavco Industries Inc. Common Stock When Issued CVCO	After close	+32.4%	+18%	+13.11%
PennyMac Financial Services Inc. PFSI	After close	-14.9%	—	-2.31%
SkyWest Inc. SKYW	After close	+0.4%	+6%	-14.72%
Bright Horizons Family Solutions Inc. BFAM	After close	+2.4%	+5%	-17.92%
Standex International Corporation SXI	After close	+3.2%	+7%	-1.87%

Wed 10/28 · 100

Strong order backlog growth and upward revision of 2026 financial guidance

Positives

▲Robust growth in backlog and revenue
▲Margin expansion and raised outlook
▲Strengthened shareholder returns

Concerns

▼Decline in Electrification orders
▼Slow revenue growth in Wind
▼Financial burden from large M&A

“Given our performance and confidence in our trajectory, we are raising our 2026 financial guidance.”

· Scott Strazik, CEO

Vertiv Holdings LLC Class A

Strong 61% revenue growth and raised full-year guidance driven by data center demand

Positives

▲Broad-based regional growth
▲Improved margins and cash flow
▲Strong order momentum

Concerns

▼Increased working capital and investment
▼Quality management challenges with new products

“Net sales up 61% versus Q3 2025, with broad-based trends across all regions. Organic net sales grew approximately 55%, with an additional 6% from acquisitions.”

· Giordano Albertazzi, CEO

Automatic Data Processing Inc.

Solid performance driven by 6% revenue growth and margin expansion

Positives

▲Revenue and Profit Growth Across Segments
▲Operational Efficiency and Margin Expansion
▲Increased Client Funds Interest Income

Concerns

▼Stagnant PEO Segment Margin
▼Projected Decline in Client Retention

“ADP is off to a strong start in fiscal 2027 with first quarter results that reflect the resilience of our business model and the trust our clients continue to place in us.”

Alphabet Inc. Class A

Explosive growth in cloud AI infrastructure and solid performance in Search

Positives

▲Record growth in Cloud segment
▲Solid momentum in Search and Ads
▲Margin expansion and profitability

Concerns

▼Decline in net income and cash flow
▼Rising costs and investment burden
▼Investment valuation losses

“Alphabet revenues grew 25% year over year. We are now at a half a trillion-dollar annual run rate.”

· Sundar Pichai

Microsoft Corporation

Robust revenue growth and improved profitability led by Cloud and AI infrastructure

Positives

▲Accelerated Cloud Growth
▲Expansion of AI Infrastructure and Agents
▲Strong Profitability and Cash Flow

Concerns

▼Weakness in Windows OEM and Devices
▼Decline in Commercial Bookings
▼Negative Growth in Xbox and Consumer Segments

“Microsoft Cloud revenue was $63.9 billion, and growth accelerated to 30% year-over-year, with sequential dollars added nearly doubling year-over-year.”

Accelerated AI platform growth and improved profitability

Positives

▲Accelerated AI Revenue Growth
▲Profitability and Guidance Upgrades
▲Expansion of Large Deals and Customer Base

Concerns

▼Deceleration in Next Quarter cRPO Growth

“AI net new ACV was 65% year over year growth in Q3. Control Tower net new ACV grew over 6x year over year.”

· Bill McDermott (CEO)

Chipotle Mexican Grill Inc.

Revenue growth and global expansion offset by margin compression and lower earnings

Positives

▲Revenue Growth and Transaction Gains
▲Digital and Loyalty Momentum
▲Accelerated Global Expansion

Concerns

▼Declining Profitability Metrics
▼Earnings Decline and Cost Pressures
▼Guidance and Market Headwinds

“Three consecutive quarters of positive comparable transaction growth demonstrates that our Recipe for Growth strategy is working.”

· Scott Boatwright, CEO

Company	Timing	EPS vs est	Revenue YoY	Earnings-day
Aon plc Class A Ordinary Shares (Ireland) AON	Pre-open	+1.8%	+3%	+4.37%
Boston Scientific Corporation BSX	Pre-open	+0.9%	+1%	-5.84%
American Electric Power Company Inc. AEP	Pre-open	+9.3%	+15%	-1.61%
TE Connectivity plc Ordinary Shares TEL	Pre-open	+2.2%	+12%	-1.82%
Garmin Ltd. Common Stock (Switzerland) GRMN	Pre-open	+15.8%	+12%	-5.82%
Old Dominion Freight Line Inc. ODFL	Pre-open	+2.3%	+13%	-7.33%
GE HealthCare Technologies Inc. Common Stock GEHC	Pre-open	+11.3%	+7%	+6.62%
Flex Ltd. Ordinary Shares FLEX	Pre-open	+11.5%	+25%	+11.61%
Biogen Inc. BIIB	Pre-open	+31.5%	+11%	-3.43%
Otis Worldwide Corporation Common Stock OTIS	Pre-open	+3.5%	+6%	-1.78%
Labcorp Holdings Inc. LH	Pre-open	+2.9%	+7%	+8.78%
International Paper Company IP	Pre-open	+27.6%	-0%	+3.30%
Smurfit WestRock plc Ordinary Shares SW	Pre-open	-21.6%	+2%	-5.20%
NiSource Inc NI	Pre-open	+16.9%	+9%	+0.62%
Stellantis STLA	Pre-open	+93.8%	—	+13.04%
Jones Lang LaSalle Incorporated JLL	Pre-open	+9.3%	+12%	+11.14%
Fortive Corporation Common Stock FTV	Pre-open	+10.0%	+8%	+4.04%
IDEX Corporation IEX	Pre-open	+4.0%	+8%	+2.29%
HF Sinclair Corporation DINO	Pre-open	+50.1%	+50%	-1.97%
C.H. Robinson Worldwide Inc. CHRW	Pre-open	+3.0%	+30%	-11.14%
Clean Harbors Inc. CLH	Pre-open	+22.1%	+21%	+0.11%
Masco Corporation MAS	Pre-open	+16.1%	+3%	+1.17%
Penske Automotive Group Inc. PAG	Pre-open	+0.6%	+9%	-0.09%
Lennox International Inc. LII	Pre-open	-7.0%	+10%	-10.59%
Generac Holdlings Inc. GNRC	Pre-open	+4.6%	+16%	+3.94%
Evercore Inc. Class A EVR	Pre-open	+72.9%	+13%	+12.51%
Brinker International Inc. EAT	Pre-open	+13.2%	+9%	+12.21%
Littelfuse Inc. LFUS	Pre-open	+16.2%	+27%	+1.08%
Avantor Inc. AVTR	Pre-open	+5.6%	+5%	-2.57%
OGE Energy Corp OGE	Pre-open	+10.9%	+15%	-0.08%
Prosperity Bancshares Inc. PB	Pre-open	+3.7%	—	+2.13%
Etsy Inc. ETSY	Pre-open	+617.0%^†	+2%	+5.35%
Kirby Corporation KEX	Pre-open	+5.8%	+12%	+6.57%
V.F. Corporation VFC	Pre-open	+29.2%	-4%	+1.17%
Terex Corporation TEX	Pre-open	+5.4%	+58%	+7.43%
Parsons Corporation PSN	Pre-open	+13.5%	+2%	-0.41%
The Chefs' Warehouse Inc. CHEF	Pre-open	+12.3%	+11%	-1.47%
Franklin Electric Co. Inc. FELE	Pre-open	+7.5%	+9%	-1.45%
SiteOne Landscape Supply Inc. SITE	Pre-open	+6.6%	+3%	+0.94%
T-Mobile US Inc. TMUS	After close	+10.6%	+7%	-0.53%
Fortinet Inc. FTNT	After close	+6.0%	+21%	-20.09%
Equinix Inc. Common Stock REIT EQIX	After close	+31.9%	+11%	+2.88%
O'Reilly Automotive Inc. ORLY	After close	+4.7%	+9%	-2.62%
Ford Motor Company F	After close	+21.4%	-2%	+3.43%
eBay Inc. EBAY	After close	+6.6%	+14%	+2.69%
Carvana Co. Class A CVNA	After close	-12.2%	+42%	+15.68%
Raymond James Financial Inc. RJF	After close	+9.8%	+2%	+2.46%
VICI Properties Inc. VICI	After close	-56.8%	+6%	+4.25%
American Water Works Company Inc. AWK	After close	-1.8%	+4%	+1.73%
Arxis Inc. Class A ARXS	After close	+29.1%	—	+1.48%
Markel Group Inc. MKL	After close	+35.1%	+6%	+1.22%
Invitation Homes Inc. INVH	After close	-14.3%	+6%	-0.41%
Mid-America Apartment Communities Inc. MAA	After close	-9.8%	+1%	+1.29%
Sterling Infrastructure Inc. STRL	After close	+22.8%	+127%	-3.91%
Tyler Technologies Inc. TYL	After close	+0.9%	+9%	+3.61%
Everest Group Ltd. EG	After close	-4.4%	-27%	+3.54%
Gen Digital Inc. GEN	After close	+4.2%	+12%	+15.81%
Carlisle Companies Incorporated CSL	After close	+0.3%	+9%	+7.58%
Nextpower Inc. Class A NXT	After close	+24.8%	+28%	-2.74%
Encompass Health Corporation EHC	After close	+11.9%	+9%	+7.70%
Antero Resources Corporation AR	After close	-15.3%	+29%	-2.16%
Service Corporation International SCI	After close	-2.1%	+5%	-8.70%
Aurora Innovation Inc. Class A AUR	After close	+0.0%	+200%	-13.46%
Align Technology Inc. ALGN	After close	+1.3%	+2%	+0.06%
MGM Resorts International MGM	After close	-237.5%^†	-1%	+5.72%
Glaukos Corporation GKOS	After close	+622.2%^†	+58%	+33.65%
Antero Midstream Corporation AM	After close	-23.0%	+11%	+3.71%
Murphy USA Inc. MUSA	After close	+12.8%	+35%	+4.80%
Darling Ingredients Inc. DAR	After close	+0.0%	+15%	-0.56%
Houlihan Lokey Inc. Class A HLI	After close	+12.1%	+5%	+1.43%
Flowserve Corporation FLS	After close	+9.0%	+5%	+11.89%
FormFactor Inc. FormFactor Inc. FORM	After close	+20.5%	+38%	-11.65%
Morningstar Inc. MORN	After close	+14.5%	+9%	+3.57%
Pilgrim's Pride Corporation PPC	After close	-9.7%	-2%	+4.66%
Plexus Corp. PLXS	After close	+14.1%	-65%	-9.62%
Sprouts Farmers Market Inc. SFM	After close	-1.4%	+5%	-22.58%
Churchill Downs Incorporated CHDN	After close	+11.8%	+2%	+11.24%
Cactus Inc. Class A WHD	After close	+23.2%	+63%	+1.79%
Impinj Inc. PI	After close	+13.2%	+17%	+3.44%
Boot Barn Holdings Inc. BOOT	After close	+6.3%	+15%	+15.16%
MYR Group Inc. MYRG	After close	+28.4%	+33%	+1.10%
Patterson-UTI Energy Inc. PTEN	After close	+75.0%	+15%	+0.71%
UFP Industries Inc. UFPI	After close	-12.9%	+11%	+4.13%
Broadstone Net Lease Inc. BNL	After close	+0.0%	+7%	+3.20%
Q2 Holdings Inc. QTWO	After close	+5.3%	+12%	-3.87%
Universal Display Corporation OLED	After close	+50.9%	+15%	-6.09%
Meritage Homes Corporation MTH	After close	-3.1%	—	+3.98%
Viking Therapeutics Inc. VKTX	After close	-44.8%	—	+5.91%
Tenable Holdings Inc. TENB	After close	+24.1%	+10%	+6.28%
Rush Street Interactive Inc. Class A RSI	After close	+15.4%	+39%	-9.98%

Tue 10/27 · 79

Strong growth in Optical Communications and acceleration of Springboard strategy

Positives

▲Robust growth in Optical Communications
▲Improvement in profitability margins
▲Strong cash flow and investment efficiency

Concerns

▼Revenue decline in Glass Innovations
▼Persistent losses in Solar segment
▼Profitability decline in Automotive

“Year-over-year, core sales grew 19% to $5.08 billion, and core EPS grew 36% to $0.91. We expanded core gross margin 150 basis points to 40.5%, core operating margin 310 basis points to 22.7%.”

· Wendell Weeks (CEO)

Slow revenue growth and lower operating income despite raised guidance

Positives

▲Growth in non-GAAP EPS
▲Raised full-year outlook
▲Steady improvement in payment metrics

Concerns

▼Decline in GAAP operating income and margin
▼Deterioration in operating cash flow
▼Stagnant revenue growth

“I'm pleased with our third-quarter performance and the momentum we are seeing across the business, and we are raising our full-year non-GAAP guidance for transaction margin dollars and EPS.”

· Enrique Lores, President and CEO

Coca-Cola Company (The)

Global volume growth and upward revision of annual guidance

Positives

▲Global Volume and Revenue Growth
▲Margin Expansion and Guidance Hike
▲Strong Performance in Key Categories

Concerns

▼Segment Declines and Share Loss
▼Price Mix Weakness in Asia Pacific
▼Cost Pressures on Margins

“Our results this quarter demonstrate our system's sustained momentum, giving us confidence in our updated full year guidance.”

· Henrique Braun, CEO

Defense segment growth and record backlog offset by commercial aviation weakness

Positives

▲Strong Defense Revenue Growth
▲Record Backlog
▲Improved Cash Flow

Concerns

▼Commercial Segment Revenue Decline
▼Significant Inventory Build-up
▼Persistent Net Losses

“Recent milestones, including certification of the 737-7 and 737-10 and selection to design and build the Navy's sixth-generation fighter aircraft, are important steps as we continue building on our progress.”

7% revenue growth and EPS expansion driven by share repurchases

Positives

▲Solid Revenue Growth
▲Margin and EPS Improvement
▲Strong Shareholder Returns

Concerns

▼GAAP Net Income Boosted by One-offs
▼Lowered GAAP Operating Margin Outlook
▼Uncertainty from Strategic Review

“S&P Global delivered a very strong quarter. Increasing demand for our benchmarks and unique intellectual property demonstrates our leadership in credit, equity, and commodities markets.”

· Martina Cheung, CEO

Record-high revenue driven by AI memory demand and expanded shareholder returns

Positives

▲Record earnings and margin expansion
▲AI memory product competitiveness
▲Enhanced shareholder return policy

Concerns

▼NAND shipment decline and FX impact
▼Rising non-operating expenses
▼Softening PC and mobile demand

“Consequently, third quarter revenue increased by 32% quarter-on-quarter and 328% year-on-year, reaching KRW 104.6 trillion. This marks the first time quarterly revenues surpassed KRW 100 trillion, setting a new record high.”

Solid growth in payment volume and double-digit revenue increase

Positives

▲Strong growth in payment and processed volumes
▲Robust performance in cross-border transactions
▲Enhanced shareholder returns

Concerns

▼Rapid increase in client incentives
▼Margin pressure from rising operating expenses
▼Slower growth in international transaction revenue

“We achieved record net revenue of $46 billion, up 15%, the strongest growth in over 15 years excluding the post-pandemic recovery and acquisitions.”

· Ryan McInerney, CEO

Seagate Technology Holdings PLC Ordinary Shares (Ireland)

Record profitability driven by strong data center demand and Mozaic technology

Positives

▲Explosive growth in data center
▲Record profitability and margin expansion
▲Strengthened balance sheet and shareholder returns

Concerns

▼Increased inventory and cost pressures
▼Stagnation in shipment growth

“September quarter revenue grew by more than 60% year-over-year, and non-GAAP EPS expanded by nearly three times to a record $7.68.”

· Dave Mosley, CEO

Robinhood Markets Inc. Class A

Strong growth in transaction-based revenue and platform metrics

Positives

▲Robust growth in transaction-based revenue
▲Expansion of platform users and assets
▲Rapid scaling of new business lines

Concerns

▼Decline in net income and EPS
▼Contraction in net interest revenue
▼Significant increase in operating expenses

“Customers are trusting us with more of their assets as we deliver on our product roadmap, leading to our highest quarter ever for revenues.”

· Shiv Verma, CFO

Waste Management Inc.

Company	Timing	EPS vs est	Revenue YoY	Earnings-day
HCA Healthcare Inc. HCA	Pre-open	+8.9%	+4%	-3.29%
Freeport-McMoRan Inc. FCX	Pre-open	+5.9%	+11%	+1.21%
United Parcel Service Inc. UPS	Pre-open	+4.0%	+7%	+5.75%
Johnson Controls International plc Ordinary Share JCI	Pre-open	+4.6%	+10%	+5.68%
Sherwin-Williams Company (The) SHW	Pre-open	-1.6%	+8%	-2.73%
American Tower Corporation (REIT) AMT	Pre-open	+0.5%	+2%	-2.36%
Illinois Tool Works Inc. ITW	Pre-open	+0.9%	+4%	-0.10%
Ecolab Inc. ECL	Pre-open	+0.3%	+13%	+0.82%
Royal Caribbean Cruises Ltd. RCL	Pre-open	+3.0%	+9%	+5.46%
Hilton Worldwide Holdings Inc. Common Stock HLT	Pre-open	+3.6%	+7%	-2.06%
PACCAR Inc. PCAR	Pre-open	+0.7%	+11%	-0.61%
IQVIA Holdings Inc. IQV	Pre-open	+2.0%	+8%	-0.75%
Centene Corporation CNC	Pre-open	+480.0%^†	+13%	+1.00%
Xylem Inc. Common Stock New XYL	Pre-open	-0.7%	-3%	-14.21%
CenterPoint Energy Inc (Holding Co) CNP	Pre-open	+6.2%	+10%	+1.87%
Hubbell Inc HUBB	Pre-open	+2.7%	+25%	-5.47%
CMS Energy Corporation CMS	Pre-open	+6.6%	+11%	-0.85%
SoFi Technologies Inc. Common Stock SOFI	Pre-open	+5.9%	+774%	+13.42%
TransUnion TRU	Pre-open	+3.2%	+12%	-5.28%
Ares Capital Corporation ARCC	Pre-open	-3.3%	—	-0.54%
Invesco Ltd IVZ	Pre-open	-2.5%	-16%	-0.35%
Watsco Inc. WSO	Pre-open	-7.9%	+7%	-1.41%
Applied Industrial Technologies Inc. AIT	Pre-open	+2.8%	+8%	-8.35%
Repligen Corporation RGEN	Pre-open	+14.5%	+11%	-2.43%
Pentair plc. Ordinary Share PNR	Pre-open	+9.9%	-5%	+12.80%
Smithfield Foods Inc. SFD	Pre-open	+0.6%	-8%	+0.11%
Central Bancompany Inc. Class A CBC	Pre-open	-1.2%	—	-0.34%
Armstrong World Industries Inc AWI	Pre-open	-5.3%	+12%	-5.74%
Commvault Systems Inc. CVLT	Pre-open	+11.5%	+13%	+2.87%
Millrose Properties Inc. Class A MRP	Pre-open	+0.9%	+18%	+1.67%
Galaxy Digital Inc. Class A GLXY	Pre-open	+230.0%^†	-69%	+9.57%
Herc Holdings Inc. Common Stock HRI	Pre-open	+33.8%	+5%	+22.76%
Asbury Automotive Group Inc ABG	Pre-open	-4.0%	-8%	+12.74%
Itron Inc. ITRI	Pre-open	+24.7%	+3%	+7.77%
Polaris Inc. PII	Pre-open	+83.9%	+11%	+5.28%
ONEOK Inc. OKE	After close	+42.0%	+44%	-1.53%
NXP Semiconductors N.V. NXPI	After close	+2.0%	+19%	-0.71%
Baker Hughes Company Class A BKR	After close	+14.0%	+15%	-7.36%
Teradyne Inc. TER	After close	+11.2%	+70%	-3.23%
Ventas Inc. VTR	After close	+27.3%	+23%	-2.72%
Arch Capital Group Ltd. ACGL	After close	+15.9%	-21%	+2.15%
EQT Corporation EQT	After close	+16.2%	-19%	-0.09%
Extra Space Storage Inc EXR	After close	-0.8%	-11%	+0.14%
LPL Financial Holdings Inc. LPLA	After close	+5.0%	+17%	-15.23%
FirstEnergy Corp. FE	After close	+8.9%	+11%	+0.28%
F5 Inc. FFIV	After close	+3.9%	+13%	-20.43%
PPG Industries Inc. PPG	After close	+6.0%	+7%	+4.41%
Expand Energy Corporation EXE	After close	+10.8%	+11%	-3.22%
Essex Property Trust Inc. ESS	After close	+7.5%	+4%	-4.89%
CoStar Group Inc. CSGP	After close	+12.0%	+14%	-13.96%
Manhattan Associates Inc. MANH	After close	+5.9%	+11%	+2.46%
Crane Company CR	After close	+12.8%	+28%	+2.87%
BXP Inc. BXP	After close	+24.1%	+5%	+0.97%
Universal Health Services Inc. UHS	After close	+1.3%	+5%	-2.90%
The Ensign Group Inc. ENSG	After close	+3.1%	+15%	+8.62%
UMB Financial Corporation UMBF	After close	+10.5%	—	-1.09%
Range Resources Corporation RRC	After close	+8.3%	+28%	-0.89%
Zurn Elkay Water Solutions Corporation ZWS	After close	+4.2%	+9%	-11.50%
Stag Industrial Inc. STAG	After close	+28.4%	+9%	+0.36%
NOV Inc. NOV	After close	+0.1%	+2%	-6.23%
ExlService Holdings Inc. EXLS	After close	+11.0%	+20%	-0.51%
Caesars Entertainment Inc. CZR	After close	-750.0%^†	+3%	-0.97%
Landstar System Inc. LSTR	After close	-14.7%	+25%	-17.76%
Cheesecake Factory Incorporated (The) CAKE	After close	+6.6%	+14%	-2.53%
Rush Enterprises Inc. Common Stock Cl A RUSHA	After close	+0.4%	+18%	-8.31%
Enphase Energy Inc. ENPH	After close	-18.7%	-29%	-16.03%
Renasant Corporation RNST	After close	-8.8%	—	-3.34%
Mirion Technologies Inc. Class A MIR	After close	+0.0%	+25%	+8.70%

Mon 10/26 · 19

Verizon Communications Inc.

Strong subscriber growth and operational efficiency drive Q3 performance and full-year guidance hike

Positives

▲Strong Growth in Subscribers and Accounts
▲Improved Profitability and Margins
▲Strong Cash Flow and Raised Outlook

Concerns

▼Decline in Equipment Revenue and Year-to-Date Net Income
▼Rising Interest Expenses and Debt Ratios

“By prioritizing customer-first offerings like Simplicity and our expanded loyalty program over heavy subsidies, we are winning loyal, high-value customers while expanding margins, reducing churn, and generating strong sustained cash flow.”

· Dan Schulman, Verizon CEO

Cadence Design Systems Inc.

Strong AI-driven design demand and third upward revision of annual revenue guidance

Positives

▲Strong Momentum in AI Design Solutions
▲Broad-based Growth and Record Backlog
▲Profitability and Shareholder Returns

Concerns

▼Decline in Operating Margins YoY
▼Rising Inventory and Cost Pressures

“Given our strong business momentum, expanding technology leadership, and compelling AI growth opportunities, we are raising our revenue outlook for the year to 21% growth and our EPS outlook by $0.30 to $8.40.”

· Anirudh Devgan (CEO)

Company	Timing	EPS vs est	Revenue YoY	Earnings-day
Public Storage PSA	After close	-8.2%	+2%	+1.79%
Nucor Corporation NUE	After close	+0.0%	+32%	+5.22%
The Hartford Insurance Group Inc. HIG	After close	+10.4%	-0%	-1.79%
Cincinnati Financial Corporation CINF	After close	+35.6%	-19%	+2.31%
Brown & Brown Inc. BRO	After close	-1.4%	+7%	-4.97%
Principal Financial Group Inc PFG	After close	-8.6%	+25%	+1.68%
Sun Communities Inc. SUI	After close	+19.7%	-20%	-4.06%
Amkor Technology Inc. AMKR	After close	-3.1%	+0%	+8.50%
Rambus Inc. RMBS	After close	+6.5%	+22%	-1.56%
Alexandria Real Estate Equities Inc. ARE	After close	—	-11%	-5.85%
Brixmor Property Group Inc. BRX	After close	+18.2%	+6%	+2.10%
Simpson Manufacturing Company Inc. SSD	After close	+11.7%	+2%	+5.31%
PriceSmart Inc. PSMT	After close	-0.4%	+14%	-3.82%
Phillips Edison & Company Inc. PECO	After close	+6.7%	+6%	-1.06%
Dorman Products Inc. DORM	After close	+4.3%	+3%	-0.34%
Park National Corporation PRK	After close	+1.9%	+5%	-0.73%

By sector

Sectors with 3+ reports this week

Sector	Reports	Beat	Rose	Avg move
Industrials	75	60/73	48/75	+1.7%
Consumer Discretionary	62	45/60	35/62	+2.3%
Financials	51	38/51	28/51	+0.4%
IT	49	41/47	18/49	-3.5%
Healthcare	41	33/40	24/41	+1.2%
Real Estate	27	16/25	14/27	-0.2%
Utilities	21	17/21	14/21	+1.3%
Energy	12	11/12	6/12	+0.0%
Consumer Staples	11	8/11	6/11	-1.3%
Materials	10	6/10	8/10	+1.9%
Communication	3	3/3	0/3	-8.2%

Sources: reported EPS and revenue from SEC filings (EDGAR) and Yahoo Finance and StockAnalysis aggregates; consensus estimates from Yahoo Finance; earnings-day moves are close-to-close changes computed by AFTERNS; call summaries are machine-generated from earnings-call transcripts and translated. Earnings-day moves fill in after the reaction day closes.

US stock earnings,the key summary

Biggest moves

Fri 10/30 · 24

Thu 10/29 · 140

Wed 10/28 · 100

Tue 10/27 · 79

Mon 10/26 · 19

By sector

Guidance raised or cut

US stock earnings,
the key summary