Verizon headlines Monday’s reports, with investors weighing whether improving wireless momentum can overcome a recent pullback in the stock. Welltower, Cadence Design Systems, Nucor, Public Storage and Celestica report after the close, while Cemex, MakeMyTrip, Alliance Resource Partners and Bank of Hawaii report before the open.
Key Reports Before The Bell
Verizon Communications (NYSE:VZ) — Q3 — 7:00 a.m. ET
- EPS: $1.27 est. vs. $1.21 a year ago (+5%)
- Revenue: $34.84 billion est. vs. $33.82 billion a year ago (+3%)
- Stock: -5.1% past month, +9.6% YTD, 13.7% below its 52-week high
- Analyst view: Hold consensus, $50 target (9 analysts)
Verizon has beaten estimates in seven of its past eight quarters, but the focus is whether subscriber momentum and broadband growth can sustain the company’s transformation as the stock sits well below its 52-week high. In Q2, it beat on EPS but missed revenue. On its July call, management pointed to stronger mobility and broadband service revenue growth and expected Q4 revenue growth of approximately 4% year over year. TD Cowen maintained its Buy rating while raising its target to $56 from $54 in July.
Cemex SAB de CV (NYSE:CX) — Q3 — 6:00 a.m. ET
- EPS: $0.22 est. vs. $0.16 a year ago (+38%)
- Revenue: $4.44 billion est. vs. $4.25 billion a year ago (+5%)
- Stock: +5.0% past month, -11.2% YTD, 25.1% below its 52-week high
- Analyst view: Buy consensus, $14 target (5 analysts)
The building-materials maker enters the report with its stock still down sharply for the year, making margin delivery and the payoff from its cost-cutting program central to the reaction. In Q2, it beat on both EPS and revenue. On its July call, management highlighted EBITDA growth, stronger margins and free-cash-flow improvement while advancing Project Cutting Edge, which targets $475 million in savings by 2027. Citigroup upgraded the stock to Buy from Neutral while cutting its target to $12 from $14 on Oct. 15.
MakeMyTrip (NASDAQ:MMYT) — Q2 — 6:10 a.m. ET
- EPS: $0.45 est. vs. $0.37 a year ago (+22%)
- Revenue: $269.1 million est. vs. $266.9 million a year ago (+1%)
- Stock: -10.0% past month, -48.7% YTD, 54.3% below its 52-week high
- Analyst view: Buy, $65 target (2 analysts)
MakeMyTrip has beaten estimates in just three of its past eight quarters, heading into a report after a steep year-to-date decline that leaves domestic travel demand and the company’s response to geopolitical disruption in focus. In Q1, it beat on both EPS and revenue. On its August call, management said it was leaning on domestic travel while international routes faced disruption and was using AI capabilities to support growth. B of A Securities maintained its Buy rating while cutting its target to $60 from $71 in September.
Alliance Resource Partners (NASDAQ:ARLP) — Q3 — 7:00 a.m. ET
- EPS: $0.82 est. vs. $0.73 a year ago (+12%)
- Revenue: $590.0 million est. vs. $571.4 million a year ago (+3%)
- Stock: +3.9% past month, +12.5% YTD, 10.7% below its 52-week high
The coal and mineral-rights partnership has beaten estimates in five of its past eight quarters, with investors looking for continued support from coal sales and its expanding oil and gas royalty portfolio. In Q2, it missed on EPS but beat revenue. On its July call, management cited higher coal sales and record oil royalties while highlighting its AllDale Minerals acquisition and the added scale it brings to the royalty business.
Bank of Hawaii (NYSE:BOH) — Q3 — 6:45 a.m. ET
- EPS: $1.51 est. vs. $1.20 a year ago (+26%)
- Revenue: $202.5 million est. vs. $182.6 million a year ago (+11%)
- Stock: -1.5% past month, +3.3% YTD, 18.1% below its 52-week high
- Analyst view: Buy consensus, $85 target (4 analysts)
Bank of Hawaii has beaten estimates in seven of its past eight quarters, putting the emphasis on whether disciplined deposit pricing and asset repricing can keep supporting profitability. In Q2, it beat on EPS but missed revenue. On its July call, management said net interest margin expanded as deposit pricing remained disciplined and fixed-rate assets repriced. Piper Sandler maintained its Neutral rating while cutting its target to $78 from $85 on Oct. 1.
Key Reports After The Bell
Welltower (NYSE:WELL) — Q3 — 4:05 p.m. ET
- EPS: $0.90 est. vs. $1.34 a year ago (-33%)
- Revenue: $3.73 billion est. vs. $2.69 billion a year ago (+39%)
- Stock: +2.6% past month, +27.9% YTD, 7.0% below its 52-week high
- Analyst view: Buy consensus, $251 target (15 analysts)
Welltower has beaten estimates in all of its past eight quarters, and the test now is whether strong senior-housing demand can justify the stock’s sharp year-to-date advance. In Q2, it beat on both EPS and revenue. On its July call, management described record results driven by strong demand in senior housing and highlighted a 15% dividend increase. Wells Fargo maintained its Overweight rating while raising its target to $268 from $266 on Oct. 19.
Cadence Design Systems (NASDAQ:CDNS) — Q3 — 4:02 p.m. ET
- EPS: $1.96 est. vs. $1.93 a year ago (+2%)
- Revenue: $1.61 billion est. vs. $1.39 billion a year ago (+16%)
- Stock: -3.0% past month, +1.3% YTD, 24.0% below its 52-week high
- Analyst view: Buy consensus, $415 target (9 analysts)
Cadence has beaten estimates in all of its past eight quarters, with AI-driven demand, backlog conversion and the durability of its growth outlook likely to determine whether the stock can recover from its recent pullback. In Q2, it beat on both EPS and revenue. On its July call, management cited strong demand for AI-driven design tools and a record backlog while raising its full-year growth outlook. Rosenblatt reiterated its Buy rating and $420 target on Oct. 23.
Nucor (NYSE:NUE) — Q3 — 4:30 p.m. ET
- EPS: $5.80 est. vs. $2.63 a year ago (+121%)
- Revenue: $10.73 billion est. vs. $8.52 billion a year ago (+26%)
- Stock: +4.4% past month, +58.2% YTD, 7.2% below its 52-week high
- Analyst view: Buy consensus, $280 target (10 analysts)
Nucor has beaten estimates in six of its past eight quarters, and investors will be looking for evidence that record shipments and broad demand are carrying through after a powerful year-to-date rally. In Q2, it beat on both EPS and revenue. On its July call, management pointed to record shipments and a positive demand outlook across key markets. Barclays maintained its Overweight rating while raising its target to $306 from $295 on Oct. 19.
Public Storage (NYSE:PSA) — Q3 — 4:05 p.m. ET
- EPS: $4.27 est. vs. $4.31 a year ago (-1%)
- Revenue: $1.30 billion est. vs. $1.14 billion a year ago (+14%)
- Stock: +7.6% past month, +19.4% YTD, 7.6% below its 52-week high
- Analyst view: Hold consensus, $327 target (9 analysts)
Public Storage has beaten estimates in five of its past eight quarters, with the key question whether its acquisition strategy can keep improving per-share performance as the stock trades near its 52-week high. In Q2, it missed on EPS but beat revenue. On its July call, management highlighted the PS 4.0 strategy and the integration of 1,100 stores and 575,000 units acquired through its NSA transaction. RBC Capital reiterated its Sector Perform rating and $318 target on Oct. 20.
Celestica (NYSE:CLS) — Q3 — 4:15 p.m. ET
- EPS: $2.95 est. vs. $1.58 a year ago (+87%)
- Revenue: $5.45 billion est. vs. $3.19 billion a year ago (+71%)
- Stock: -28.9% past month, -12.0% YTD, 45.1% below its 52-week high
- Analyst view: Buy consensus, $454 target (12 analysts)
Celestica has beaten estimates in all of its past eight quarters, but the report comes after a steep one-month selloff that raises the bar for continued AI and networking demand. In Q2, it beat on both EPS and revenue. On its July call, management cited strong communications and enterprise demand, with the CCS segment driving the quarter’s growth. Bernstein started coverage at Outperform with a $520 target in September.
Also Reporting Before The Bell
Plus 7 companies valued between $100 million and $2 billion, including Lakeland Financial, HBT Financial and Easterly Government Properties.
Also Reporting After The Bell
- Hartford Insurance Group (NYSE:HIG) — $3.17 EPS on $6.98 billion revenue
- Cincinnati Financial (NASDAQ:CINF) — $2.08 EPS on $3.03 billion revenue
- Brown & Brown (NYSE:BRO) — $1.08 EPS on $1.76 billion revenue
- Principal Financial Group (NASDAQ:PFG) — $2.43 EPS on $4.28 billion revenue
- Sun Communities (NYSE:SUI) — $2.30 EPS on $571.4 million revenue
- Amkor Technology (NASDAQ:AMKR) — $0.79 EPS on $2.04 billion revenue
- Gerdau (NYSE:GGB) — $0.18 EPS on $3.59 billion revenue
- Rambus (NASDAQ:RMBS) — $0.76 EPS on $213.0 million revenue
- Brixmor Property Group (NYSE:BRX) — $0.59 EPS on $355.8 million revenue
- Simpson Manufacturing (NYSE:SSD) — $2.42 EPS on $625.3 million revenue
- Alexandria Real Estate Equities (NYSE:ARE) — $1.52 EPS on $655.7 million revenue
- Noble (NYSE:NE) — $0.22 EPS on $710.8 million revenue
Financials: Northwest Bancshares (NWBI) and Bladex (BLX).
Also on the calendar: Pricesmart (PSMT), Phillips Edison (PECO), Dorman Products (DORM), Agilysys (AGYS), Hawkins (HWKN), H2O America (HTO) and Custom Truck One Source (CTOS).
Plus 13 companies valued between $100 million and $2 billion, including Whirlpool, Firstsun Capital Bancorp and Greenbrier Companies.
Timing to be confirmed: Coca-Cola Femsa SAB de CV (KOF).