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Earnings Expectations for the Week of October 22


It's a busy earnings week, with Apple's results one of the most closely-watched.



Caterpillar (NYSE:CAT) and Yahoo! (NASDAQ:YHOO) were the highlights today. The heavy equipment maker reported profits up nearly 50% thanks to higher price points and more sales to the US. Revenue for the quarter ending in September grew 5% to $16.4 billion from $15.7 billion in the same period of last year. Net income in the quarter soared 49% to $1.70 billion or $2.54 per diluted share compared to $1.14 billion or $1.71 per share a year ago.

Just after the market closed, Yahoo announced that its third-quarter net income soared to $3.16 billion or $2.64 per share, up from $293.29 million or $0.23 per share in the same quarter last year. Revenue excluding traffic acquisition costs was $1.089 billion for the third quarter of 2012, a 2% increase compared to the third quarter of 2011. GAAP revenue was $1.202 billion for the third quarter of 2012, a 1% decrease from the third quarter of 2011.

Also reporting today: Apparel maker V.F. Corp. (NYSE:VFC), data storage company Western Digital (NASDAQ:WDC), miner Freeport-McMoRan Copper & Gold (NYSE:FCX), and semiconductor maker Texas Instruments (NASDAQ:TXN).


Netflix (NASDAQ:NFLX) is expected to say that its earnings fell about 96% from last year to $0.04 per share. However, analysts predict that revenue will be up about 10% to $904.89 million. Note that earnings results have been better than expected in the past six quarters.

The forecast for economic bellwether United Parcel Service (NYSE:UPS) calls for $1.06 EPS on revenue of $13.30 billion. That compares with $1.09 per share and $13.17 billion in the third quarter of last year. UPS fell short of consensus EPS estimates in the previous two quarters.

Also on Tuesday, analysts are looking for earnings growth from 3M (NYSE:MMM) and Coach (NYSE:COH). But smaller EPS are expected from DuPont (NYSE:DD), Harley-Davidson (NYSE:HD), Norfolk Southern (NYSE:NSC), and defense contractor United Technologies (NYSE:UTX).


The middle of the week will be busy on the earnings front, including reports from AT&T (NYSE:T), which has seen its consensus EPS estimate shrink over the past 60 days, and Boeing (NYSE:BA), whose consensus EPS estimate has ticked up in the same period.

The Dallas-based telecom's results are expected to be essentially flat year-over-year, or $0.60 per share and $31.58 billion in revenue. The Chicago-based aircraft manufacturer is forecast to report per-share earnings of $1.12 and revenue of $20.03 billion, compared with $1.46 per share and $17.73 billion in the year-ago period.

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No positions in stocks mentioned.

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