To The Moon

Hello, everyone! This is our Earnings Season Special Edition. 

I will post selected companies that beat forecasts in Q3 and help to provide insights for trading in this season.

Which sector benefits most under the current background?

Let's check out and find investing clues.

The following seven companies are mainly from four industries: medical care, financials, energy and consumer staples.

Medical Care

1. $Johnson & Johnson(JNJ)$ posted adjusted earnings of $2.55 a share, on sales of $23.8 billion.

Analysts surveyed by FactSet had expected the healthcare giant to report earnings of $2.48 a share on revenue of about $23.4 billion.

Sales for the company’s medical devices division were $6.8 billion, slightly above the FactSet consensus estimate of $6.7 billion.

2. $Abbott Laboratories(ABT)$ enjoyed a third-quarter beat, partly due to its Covid testing division.

Through the end of the third quarter, Abbott Labs amassed $7.3 billion in sales of its Covid tests. As a result, third-quarter sales declined less than Wall Street expected.

Abbott raised its adjusted earnings guidance to $5.17-$5.23 per share for the year. ABT stock analysts forecast adjusted earnings of $5.06 per share and $42.49 billion in total sales.

3. Robotic surgery giant $Intuitive Surgical(ISRG)$ handily beat third-quarter expectations with 20% procedure growth for its da Vinci system.

Overall, revenue climbed 11% to $1.56 billion and beat forecasts for $1.51 billion, according to FactSet.

Intuitive Surgical also reported adjusted earnings of $1.19 per share, flat year over year. But that easily beat ISRG stock analysts' forecast for $1.12 a share.

Financial

4.  $Goldman Sachs(GS)$  posted third-quarter results that topped analysts’ expectations for profit and revenue on better-than-expected trading results.

Earnings: $8.25 a share vs. $7.69 per share estimate according to Refinitiv

Revenue: $11.98 billion vs. $11.41 billion estimate

The company said profit fell 43% to $3.07 billion, or $8.25 a share, exceeding the $7.69 estimate of analysts surveyed by Refinitiv.

Revenue slipped 12% to $11.98 billion, beating estimates by more than $500 million. Goldman’s revenue decline was expected after last year’s IPO boom cooled down this year.

5. $American Express(AXP)$ reported on Friday third quarter earnings that beat analysts' forecasts and revenue that topped expectations. 

This beat followed other financial giants including JPMorgan and BAC.

American Express announced earnings per share of $2.47 on revenue of $13.60. Analysts polled by Investing.com anticipated EPS of $2.41 on revenue of $13.47B.

Energy

6. Energy giant $Schlumberger(SLB)$ Limited on Friday reported higher earnings and revenues for the third quarter of 2022.

All four operating segments registering double-digit growth.

Schlumberger earnings grew 75% to 63 cents per share, compared to theWall Street forecast’s of 55 cents per share in Q3. Analysts expected revenue to increase 22% to $7.1 billion, according to FactSet. The company’s actual revenue increased 10% to $7.5 billion.

Consumer Staples

7. $Procter & Gamble(PG)$ topped Wall Street’s estimates as higher prices helped mitigate rising costs.

But the pricing strategy has hurt demand for its products, leading to shrinking volume for the last two fiscal quarters.

Earnings per share: $1.57 vs. $1.54 expected

Revenue: $20.61 billion vs. $20.28 billion expected

Net sales for the quarter rose 1% to $20.61 billion, topping expectations of $20.28 billion.

We look forward to seeing the results of companies in the same industry will continue to surprise us. The market is currently rewarding companies with good earnings.

This the earnings calendar for this week.