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The fourth quarter earnings season is entering the final stretch.
As of Feb. 13, 74% of S&P 500 (^GSPC) companies have reported results, according to FactSet data, and blended earnings growth — meaning a combination of reported results from companies and projected profits from analysts — stands at 13.2%.
If that growth rate holds, it would represent the 10th consecutive quarter of annual earnings growth for the index and the fifth consecutive quarter of double-digit growth.
Heading into the reporting period, analysts were expecting an 8.3% jump in earnings per share, down from the third quarter’s 13.6% earnings growth rate. Wall Street has raised its earnings expectations in recent months, especially for tech companies, which have driven earnings growth.
Investors have also been more generous to companies missing results this quarter, FactSet’s data shows, and this comes while investor anxiety over the impact of AI across sectors has risen in recent weeks.
Companies missing estimates have seen their stock fall 2%, on average, during this earnings period. That’s less than 2.8% decline seen over the last five years for companies missing forecasts. Earnings beats, meanwhile, are being rewarded at an average rate.
Massive Big Tech capital expenditures set the tone for the AI trade. Plus, the themes that drove the markets in 2025 — artificial intelligence, the Trump administration’s tariff and economic policies, and a K-shaped consumer economy — continue to provide plenty for investors to parse.
This week, investors will digest results from Walmart (WMT), Deere & Co. (DE), Analog Devices (ADI), Booking Holdings (BKNG), DoorDash (DASH), and eBay (EBAY).
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Notable earnings for the week of Feb. 16 — Walmart, eBay, DoorDash, Booking
Fourth quarter earnings season is entering the final stretch.
In the week ahead, the consumer will be in focus, with results from Walmart before the open on Thursday the headline event.
This report will be the first under its new CEO, John Furner, and the first since the company joined the trillion-dollar market cap club.
Other notable companies reporting results include Booking Holdings (BKNG), DoorDash (DASH), and eBay (EBAY) all of which are set to report on Wednesday.
Data from FactSet published Friday noted some 74% of S&P 500 companies have reported results through the end of the week. Blended earnings growth for the quarter — meaning actual reported results and forecasted earnings from analysts — has the pace of growth at 13.2% for the fourth quarter.
This puts the index on track to record a fifth-straight quarter of double-digit profit gains.
Here’s the full calendar for the week ahead. And note that US markets are closed on Monday for President’s Day, but a few companies are still expected to report results.
Monday: BHP Group (BHP), Sonoco Products Company (SON), Otter Tail Corporation (OTTR), ReNew Energy Global (RNW)
Tuesday: Medtronic (MDT), Palo Alto Networks (PANW), Constellation Energy (CEG), Cadence Design Systems (CDNS), Republic Services (RSG), Energy Transfer (ET), Vulcan Materials (VMC), EQT Corporation (EQT), Kenvue (KVUE), DTE Energy Company (DTE), FirstEnergy Corp. (FE), Devon Energy (DVN), Expand Energy (EXE), Leidos Holdings (LDOS), InterContinental Hotels Group (IHG), Genuine Parts Company (GPC), Sunoco (SUN)
Wednesday: Analog Devices (ADI), Booking Holdings (BKNG), Lloyds Banking Group (LYG), CRH (CRH), Moody’s Corporation (MCO), Carvana (CVNA), DoorDash (DASH), Occidental Petroleum (OXY), Kinross Gold Corporation (KGC), Garmin (GRMN), eBay (EBAY), Nutrien (NTR), Texas Pacific Land Corporation (TPL), Edison International (EIX), American Water Works Company (AWK), Verisk Analytics (VRSK), Pan American Silver Corp. (PAAS), Royal Gold (RGLD), Global Payments (GPN), Reliance (RS), Western Midstream Partners (WES), Host Hotels & Resorts (HST), Jones Lang LaSalle (JLL), Equinox Gold Corp. (EQX), Figma (FIG), HF Sinclair (DINO), Molson Coors (TAP), Wingstop (WING), Wyndham Hotels & Resorts (WH)
Thursday: Walmart (WMT), Rio Tinto (RIO), Deere & Company (DE), Newmont Corporation (NEM), The Southern Company (SO), Quanta Services (PWR), Targa Resources (TRGP), Comfort Systems USA (FIX), Consolidated Edison (ED), Cenovus Energy (CVE), Live Nation Entertainment (LYV), Copart (CPRT), Extra Space Storage (EXR), Teck Resources (TECK), CenterPoint Energy (CNP), Alliant Energy Corporation (LNT), Fidelity National Financial (FNF), Guardant Health (GH), DT Midstream (DTM), American Homes 4 Rent (AMH), Gaming and Leisure Properties (GLPI), Texas Roadhouse (TXRH)
Friday: AngloGold Ashanti (AU), PPL Corporation (PPL), Lamar Advertising Company (LAMR), Sibanye Stillwater (SBSW), Hudbay Minerals (HBM), Portland General Electric Company (POR), Balchem Corporation (BCPC), Array Digital Infrastructure (AD), The Western Union Company (WU)
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Moderna beats quarterly revenue estimates on resilient sales of COVID shot
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Coinbase posts quarterly loss amid tough crypto conditions
Coinbase (COIN) posted a quarterly loss in the fourth quarter amid a sharp retrenchment in the crypto trade that saw bitcoin (BTC-USD) fall 45% over the past six months.
The crypto exchange reported a loss of $667 million, compared with a $1.3 billion profit in the same quarter a year ago. Revenue of $1.78 billion fell below expectations of $1.83 billion, according to S&P Global Market Intelligence.
Transaction revenue of $983 million also fell slightly below estimates. Coinbase said it has seen $420 million of transaction revenue in the first quarter through Feb. 10.
For the first quarter, Coinbase expects subscription and services revenue of $550 million to $630 million, compared to $710 million to $790 million in Q4.
The stock initially sold off but then reversed course and rose 3% in after-hours trading. Shares had fallen about 8% heading into the earnings report as Coinbase users experienced issues buying and selling on the exchange. “Your funds are safe,” a Coinbase customer support account posted on X.
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Pinterest forecasts downbeat revenue as it battles for digital ad dollars; shares plunge
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Applied Materials stock surges after results beat on the top and bottom lines
Applied Materials (AMAT) stock climbed 9% after the semiconductor equipment maker beat Wall Street expectations on the top and bottom lines.
The after-hours reaction to Applied Materials’ results added to the strong run for the stock in 2026. Year to date, shares are up 27%.
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Airbnb reports upbeat revenue guidance, but earnings miss due to heavy investments
Airbnb (ABNB) stock gained 4% in extended trading after the travel company issued an upbeat first quarter revenue outlook, suggesting it’s seeing strong demand for premium bookings.
Airbnb forecast revenue between $2.59 billion and $2.63 billion for the quarter, compared with analysts’ expectations of $2.52 billion, according to S&P Global Market Intelligence consensus estimates.
Fourth quarter revenue of $2.78 billion beat expectations of $2.71 billion, but Airbnb’s earnings per share in the quarter of $0.56 missed estimates of $0.65, as the company invested heavily in new experiences and offerings.
Reuters reports:
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Rivian stock surges on Q4 results; upcoming R2 EV on track for Q2 customer deliveries
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McDonald’s leans into value strategy, prepares for broader GLP-1 drug adoption
McDonald’s (MCD) said its value campaign to get customers to return to the fast food chain after high prices tarnished its reputation for affordable food is working. And with fourth quarter US same-store sales growing 6.8% during the quarter, there may be some truth to that.
“We’re not going to not win on value,” CFO Ian Borden told Yahoo Finance. “We’ve made, I think, significant progress on our value and affordability platforms and how those are resonating with consumers.”
In the first quarter, McDonald’s is expected to pull back on the support it sent franchisees for the Extra Value Meal push. But Borden suggested that many locations would keep the meal deal, calling it “fundamental in the environment that we’re operating in today.”
Borden and McDonald’s CEO Chris Kempczinski also indicated that they’re aware of the growing adoption of GLP-1 weight-loss medications, especially now that pill versions are rolling out.
“As adoption grows, we know that consumers’ behavior changes,” Kempczinski said. “We know that in general, they eat fewer calories in the day, but also what they eat, the mix of that changes.”
Kempczinski added that the company is factoring in changing diet preferences, such as customers opting for less sugary drinks, into the offerings it is testing.
Read more about how McDonald’s is responding to weight-loss drugs here.
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Crocs shares soar on Q4 earnings beat, better-than-expected profit guidance
Shares of Crocs (CROX) soared more than 13% in premarket trading on Thursday, after the company reported better-than-expected fourth quarter earnings and a solid earnings outlook for 2026.
For the fourth quarter, Crocs reported earnings per share of $2.29, well above the consensus estimate of $1.91 per share. Revenue totaled $958 million for the quarter, lower than in the same quarter a year ago, but ahead of expectations of $916.09 million.
Crocs noted that it came off a strong holiday season. Sales in Crocs’ direct-to-consumer channel grew 3.6%, while its wholesale revenue declined 15.5%.
The company’s outlook was also upbeat: The company issued full-year profit guidance of $12.88 to $13.35 per share, beating analysts’ estimates of $11.92.
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Birkenstock misses quarterly revenue estimates as consumers pull back on discretionary spending
Birkenstock (BIRK) shares fell 3% in premarket trading after the 250-plus-year-old footwear maker missed analyst expectations for its first quarter revenue.
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Baxter stock sinks after forecasting 2026 profit below estimates
US healthcare company Baxter’s (BAX) stock sank 14% before the bell on Thursday following the release of its fourth quarter earnings, forecasting annual profit below Wall Street estimates. The company cited persistent problems from hurricane-related issues at one of its manufacturing plants.
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Restaurant Brands Q4 adjusted earnings and revenue beat estimates
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AppLovin beats quarterly revenue estimates
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Magnum stock falls ‘reignites’ fears over weight-loss drugs
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Equinix forecasts annual sales above estimates on AI data center demand
Equinix (EQIX) stock jumped more than 9% in extended trading after the data center operator issued strong annual revenue guidance on the back of continued artificial intelligence demand.
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Cisco stock falls after 2026 guidance disappoints
Cisco (CSCO) stock fell 5% after the networking company issued guidance below Wall Street forecasts.
For the full year, Cisco raised its guidance for earnings per share to $3.00 to $3.08 on revenue of $61.2 billion to $61.7 billion. However, the Street was looking for earnings guidance of $3.12 on revenue of $62.1 billion.
In Cisco’s second quarter, the company reported earnings per share of $0.80, compared to Wall Street analyst estimates of $0.74 per share, according to S&P Global Market Intelligence. Revenue rose 10% year over year to $15.3 billion, compared to estimates of $15.1 billion.
“We see strong, broad-based demand for our technology solutions and remain focused on capturing the significant opportunities we see ahead,” Cisco CFO Mark Patterson said.
Reuters reports:
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McDonald’s sales top forecasts as value push, promotions boost US results for third straight quarter
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Unity shares plummet as downbeat forecast sparks fears of a demand slump
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T-Mobile adds fewer wireless subscribers than expected amid intense competition
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Kraft Heinz pauses plans to split into 2 companies
Kraft Heinz (KHC) announced on Tuesday that it would pause its spin-off plans, with the company’s new CEO, Steve Cahillane, saying that its “challenges are fixable and within our control.”
The company, which was set to spin off its meal business, Global Taste Elevation Co., and grocery business North American Grocery Co., plans to invest $600 million across marketing, sales, research and development, and pricing.
“We are confident in the opportunity ahead and believe this investment will accelerate our return to profitable growth,” said Steve Cahillane, who became CEO on Jan. 1 and previously led Kellanova, which successfully split from the Kellogg Company in 2023.
Shares fell more than 6% in premarket trading.
In its fourth quarter results, the company reported adjusted earnings of $0.67, a beat compared to the expected $0.61, per Bloomberg consensus data. Revenue came in slightly lower at $6.35 billion, compared with the $6.37 billion expected.
Prices increased 0.5%, slightly below expectations of a 0.79% increase.
For 2026, the company expects organic net sales to be down 1.5% to 3.5%. Wall Street expected 2026 annual organic revenue to be down 0.56%. Adjusted earnings per share are expected to be in the range of $1.98 to $2.10, whereas Wall Street forecast $2.50.
Read the latest financial and business news from Yahoo Finance
