Core Insights - Phillips 66 (PSX) is scheduled to report its third-quarter 2025 results on October 29, with adjusted earnings per share (EPS) expected at $2.07, reflecting a 1.5% year-over-year increase, while revenues are projected to decline by 17.3% to $29.9 billion [1][2][7] Earnings Performance - In the previous quarter, PSX reported adjusted earnings of $2.38 per share, surpassing the Zacks Consensus Estimate of $1.66, driven by increased refining volumes and higher refining margins [1] - PSX has beaten the Zacks Consensus Estimate in three of the last four quarters, with an average surprise of approximately 19.2% [1] Revenue and Pricing Trends - The Zacks Consensus Estimate for revenues in the upcoming quarter is $29.9 billion, which represents a 17.3% decrease compared to the same period last year [2] - Average spot prices for West Texas Intermediate (WTI) crude in July, August, and September were $68.39, $64.86, and $63.96 per barrel, respectively, which are lower than the previous year's averages of $81.80, $76.68, and $70.24 [3] Business Segments - The softer pricing environment is expected to benefit PSX, as a significant portion of its earnings comes from the refining business [4] - The midstream segment is anticipated to generate stable cash flows, with a projected 5.1% year-over-year increase in pre-tax adjusted income [4] Earnings Expectations - Current analysis indicates that PSX is not expected to beat earnings this quarter, with an Earnings ESP of 0.00% and a Zacks Rank of 2 (Buy) [5] - The combination of a positive Earnings ESP and a higher Zacks Rank typically increases the likelihood of an earnings beat, which is not the case for PSX this time [5] Comparative Stocks - BP and ConocoPhillips are mentioned as potential stocks to consider, with BP having an Earnings ESP of +1.87% and ConocoPhillips at +0.34% [6][8]

Core Insights - Mondelez International, Inc. is expected to report revenue growth of 5.9% year-over-year, reaching $9.74 billion for Q3 2025 [1][9] - However, the company's earnings per share are projected to decline by 26.3% year-over-year, remaining at 73 cents [2][9] Revenue Performance - The growth in revenue is attributed to strong performance in chocolate and biscuit categories, supported by effective pricing actions and brand execution [3][4] - The company anticipates a 3.8% revenue growth in the biscuit category for the third quarter [3] - Organic revenue growth is expected to be 4.6% for Q3, driven by a 7.4% increase in pricing [4] Cost and Profitability Challenges - Mondelez faces challenges from elevated input costs, particularly high cocoa prices, and an unfavorable product mix, which may impact profitability [5] - Higher operating expenses are also contributing to the pressure on margins [5] Earnings Prediction Model - The Zacks model indicates that Mondelez does not have a strong likelihood of beating earnings expectations this quarter, with a Zacks Rank of 4 (Sell) and an Earnings ESP of -2.50% [6]

Core Insights - Investors are focusing on profits from asthma drug Dupixent and sales of Eylea HD as Regeneron Pharmaceuticals prepares to report its third-quarter 2025 results on October 28, 2025, with revenue estimates at $3.60 billion and earnings at $9.54 per share [1] Financial Performance - Regeneron has a history of earnings surprises, beating estimates in three of the last four quarters with an average surprise of 16.99%, including a 60.52% beat in the last reported quarter [2] - The Earnings ESP for Regeneron is -0.63%, indicating a potential earnings miss, with the Zacks Consensus Estimate at $9.54 per share and the Most Accurate Estimate at $9.48 [4] Product Sales - Eylea, a significant revenue source for Regeneron, has faced declining sales due to competition from Vabysmo, with U.S. sales estimated at $686 million for Q3 [6] - Eylea HD, a higher dose version, is expected to see strong sales, estimated at $414 million, potentially offsetting declines in Eylea sales [7] - Dupixent sales are projected to rise by 26.2% in Q3, driven by strong demand across multiple approved indications, contributing to Regeneron's profits [9] Oncology Franchise - Regeneron is diversifying its revenue base to reduce dependence on Eylea, with growth in its oncology franchise driven by Libtayo and the newly approved Lynozyfic [10][12] - Libtayo sales are estimated at $370 million, benefiting from increased demand for non-melanoma skin indications [11] Operating Expenses and Share Buybacks - Operating expenses are likely to have increased due to pipeline advancements and commercialization efforts for Eylea HD [13] - A decrease in outstanding shares from a $3.0 billion share repurchase program may positively impact the bottom line [14] Regulatory Updates - Investors will be looking for updates on key pipeline and regulatory developments, including the recent FDA approval for Libtayo's label expansion [15] Stock Performance - Regeneron's shares have declined by 18.8% year-to-date, contrasting with the industry's growth of 11.1% [16]

Core Viewpoint - UnitedHealth Group is expected to report third-quarter 2025 results on October 28, 2025, with earnings estimated at $2.80 per share and revenues of $113.38 billion, reflecting a year-over-year revenue growth of 12.5% despite a significant decline in earnings per share [1][2][3]. Financial Performance - Third-quarter earnings estimates have decreased by 4 cents, indicating a 60.8% decline from the previous year [2]. - The Zacks Consensus Estimate for total revenues for the current year is $448.46 billion, representing a 12% increase year-over-year, while earnings per share are projected to drop by 41.6% [3]. Earnings Prediction - The model does not predict a definitive earnings beat for UnitedHealth this quarter, with an Earnings ESP of -0.81% and a Zacks Rank of 2 (Buy) [5]. - The company has beaten earnings estimates in two of the last four quarters, with an average surprise of -3.3% [4]. Revenue Drivers - Premium and membership growth in UnitedHealthcare and service gains from Optum are expected to enhance results, with premium revenues projected to grow by 15.1% year-over-year [8][9]. - Total domestic commercial customers are expected to grow by 0.9%, with Medicare Advantage members increasing by 8% and Medicaid memberships by 1.9% [10]. Cost and Margin Pressures - Rising medical costs and increased overall expenses are anticipated to impact margins negatively, with total operating costs expected to rise by 18% year-over-year [12]. - The medical care ratio is estimated at 90.82%, up from 85.2% in the previous year, indicating higher medical costs [13]. Stock Performance and Valuation - UnitedHealth's stock has increased by 28.2% over the past three months, outperforming the industry and the S&P 500 [14]. - The stock is currently trading at 21 times forward 12-month earnings, above the industry average of 16.65 times, reflecting investor confidence in the company's long-term stability [16]. Strategic Positioning - Despite short-term challenges, UnitedHealth's long-term fundamentals remain strong, supported by its scale, diversified portfolio, and strategic positioning in the managed care industry [18]. - Management's proactive measures, including disciplined cost control and operational optimization, aim to protect profitability and maintain financial flexibility [19]. Investment Outlook - The company is well-positioned to navigate current challenges, with strong execution and expanding memberships offering a compelling opportunity for investors seeking steady growth and stability [21].

Core Viewpoint - ONEOK Inc. (OKE) is set to release its third-quarter 2025 results on October 28, with expectations of strong performance driven by strategic acquisitions and increased natural gas processing volumes [1][5]. Factors Impacting Q3 Performance - In July 2025, ONEOK acquired an additional 30% stake in BridgeTex Pipeline Company, LLC, raising its ownership to 60%, which is expected to enhance cost efficiencies and profitability [2]. - The company is anticipated to benefit from strong fee-based contracts, with over 90% of revenues generated from such contracts [2]. - Increased well completions in the Rocky Mountain and Mid-Continent regions are likely to have boosted natural gas gathering and processing volumes [3]. - Sustained demand growth for refined products is expected due to the peak summer travel season, with mid-single digit rate increases following July tariff adjustments likely to enhance revenues [4]. Q3 Expectations - The Zacks Consensus Estimate for earnings is $1.45 per share, reflecting a year-over-year increase of 22.9% [5]. - Revenue estimates are set at $9.42 billion, indicating an 87.5% year-over-year jump [5]. - Raw feed throughput is expected to reach 1,542.23 thousand barrels of natural gas liquid per day, up 16.5% year over year [5]. - Natural gas processing volumes are estimated at 5,690.49 million cubic feet of gas per day, a 2.1% increase from the previous quarter [6]. Earnings Prediction Insights - The Earnings ESP for ONEOK is +0.47%, but the current Zacks Rank is 4 (Sell), indicating uncertainty regarding an earnings beat [7][8].

Core Viewpoint - Boeing is expected to report a loss of $2.46 per share for Q3 2025, with revenues projected at $21.92 billion, reflecting a year-over-year growth of 22.9% [1][7]. Financial Estimates - The Zacks Consensus Estimate for Q3 2025 shows a loss of $2.46 per share, with revenues expected to be $21.92 billion, indicating a 22.9% increase from the previous year [1][7]. - The number of estimates for the current quarter is 8, with a high estimate of -$0.11 and a low estimate of -$5.91 [2]. - Year-over-year growth estimates for earnings show a significant improvement, with a 76.44% increase expected for Q3 2025 compared to the previous year [2]. Earnings Surprise History - Boeing has a mixed earnings surprise history, beating estimates in two of the last four quarters and missing in two, with an average surprise of 0.87% [3][4]. Earnings Prediction Model - The current Earnings ESP for Boeing is -49.51%, indicating that the model does not predict an earnings beat for the upcoming report [5]. Company Performance Insights - Boeing's commercial aircraft deliveries increased by 37.9% year-over-year, contributing positively to revenue growth, while defense shipments declined by 5.9% [11]. - Increased fleet utilization due to rising international commercial air travel is expected to support sales for commercial jet services [10]. - Supply-chain pressures and lower defense shipments may offset some of the gains in Q3 [7][12]. Stock Performance - Over the past six months, Boeing's stock has returned 22.4%, compared to the industry's growth of 25.8% [13]. - Boeing is currently trading at a premium compared to its industry on a forward 12-month P/S basis [15]. Investment Considerations - The demand for new jets and aftermarket services is driven by rising commercial air travel and the need to replace aging fleets [19]. - Persistent supply-chain issues, particularly shortages of aircraft parts, pose significant challenges for Boeing and the broader aviation industry [20][21]. - The company's trailing 12-month return on invested capital (ROIC) is negative, indicating insufficient returns on investments [18].

Core Insights - Procter & Gamble has reduced its forecast for tariff costs in fiscal 2026 while maintaining its profit outlook [1] Summary by Category Financial Outlook - The company has kept its profit outlook unchanged despite the adjustment in tariff cost estimates [1] Tariff Costs - Procter & Gamble has lowered its estimate for tariff costs specifically for fiscal 2026 [1]

Core Viewpoint - Freeport-McMoRan Inc. reported a strong third-quarter performance, with profits exceeding expectations due to higher copper prices and improved cost efficiency, despite operational challenges in Indonesia [1][2]. Financial Performance - The company posted adjusted earnings of $0.50 per share, surpassing the analyst forecast of $0.41 [2]. - Revenue increased by 4% year-over-year to $6.97 billion, exceeding expectations of $6.9 billion [2]. - Net income for the quarter totaled $674 million [2]. Production and Operations - Production and sales were impacted by the temporary suspension of Grasberg operations in Indonesia, which accounts for approximately 3% of the world's copper supply [3]. - Copper output fell to 912 million pounds from 1.1 billion pounds in the previous year, while gold production decreased by over 30% to 287,000 ounces [3]. Market Conditions and Future Projections - Average realized copper prices rose to $4.68 per pound due to tight supply conditions [4]. - Unit net cash costs improved to $1.40 per pound, outperforming prior guidance, with operating cash flow reaching $1.7 billion for the quarter [4]. - For 2025, Freeport projected total sales of 3.5 billion pounds of copper and 1.05 million ounces of gold, with a phased restart plan for Grasberg operations [4].

Core Insights - Principal Financial Group, Inc. (PFG) is anticipated to show improvements in both revenue and earnings for Q3 2025, with results expected to be reported on October 27 [1][9] - The Zacks Consensus Estimate for PFG's Q3 revenues is $4.07 billion, reflecting a 7.8% increase year-over-year [1][9] - The consensus estimate for earnings is $2.18 per share, indicating a year-over-year increase of 23.8% [2][9] Revenue and Earnings Estimates - The revenue estimate of $4.07 billion represents a 7.8% growth compared to the previous year [1][9] - The earnings estimate of $2.18 per share has increased by 0.4% over the past 30 days [2][9] - The expected net investment income for Q3 2025 is projected to be $1.2 billion [7] Factors Influencing Performance - Strong PRT sales, favorable underwriting experiences, and overall business growth are expected to positively impact PFG's Q3 results [5] - Increased management fee revenues from higher average assets under management (AUM) and performance fees, particularly in real estate, are likely to benefit the Investment Management segment [6] - Positive market performance and beneficial exchange rate impacts are expected to enhance assets under management [8] Expense Projections - Total expenses are anticipated to rise to $3.6 billion due to higher benefits, claims, and settlement expenses [8]

Core Insights - Cincinnati Financial Corporation (CINF) is anticipated to show improvements in both revenue and earnings for Q3 2025, with a revenue estimate of $2.9 billion, reflecting an 11.3% year-over-year growth [1][9] - The earnings per share (EPS) is projected at $2.01, indicating a significant year-over-year increase of 41.6% [2][9] Revenue Expectations - The Zacks Consensus Estimate for CINF's Q3 revenues stands at $2.9 billion, which is an 11.3% increase from the previous year [1][9] - Earned premiums are expected to reach $2.5 billion, up 10.4% from the year-ago figure, with the consensus estimate at $2.6 billion [5] Earnings Projections - The consensus estimate for the bottom line is $2.01 per share, with a 4.7% upward revision in the past week, suggesting a 41.6% year-over-year increase [2][9] - CINF has an Earnings ESP of +4.49%, indicating a higher Most Accurate Estimate of $1.42 per share compared to the Zacks Consensus Estimate of $1.37 [4] Factors Influencing Performance - Increased premiums are attributed to better pricing, higher property casualty agency activity, and improved business written premiums [5] - Personal Lines revenues are estimated at $816 million, benefiting from higher policy retention rates and changes in policy deductibles [6] - Excess and Surplus lines revenues are projected at $176.4 million, supported by better agency renewal and new business written premiums [7] Investment Income and Expenses - Net investment income is expected to be $291.6 million, reflecting a 13% increase year-over-year, with a consensus estimate of $314 million [7] - Total expenses are projected to rise by 10.9% to $2.5 billion, driven by higher insurance losses and other operating expenses [8] Underwriting Profitability - Prudent underwriting practices and a favorable catastrophe environment are likely to enhance underwriting profitability, with an estimated combined ratio of 98 [8]