We are now approaching the end of Q3 earnings season, as everyone waits for Nvidia ($NVDA) to report its earnings on Nov. 17. 

Granted, most people now want to see that release for what else the company has to say about the departure of CEO Jensen Huang — but Nvidia’s quarterly earnings do mark the informal end of the quarter’s earnings season, and the company still makes gobs of money. Those numbers matter to Corporate America’s performance as a whole.

Right now, with roughly 2,800 non-financial companies already reporting their Q3 numbers, the Calcbench Earnings Tracker can say that quarterly performance overall looks good. Revenue is up 15.1 percent from the year-ago period, operating income is up 38.9 percent, and net income up 43.2 percent. All expense lines are rising less than revenue, too. See Figure 1, below.

We’ve spent the last few weeks noting how much the AI hyperscalers have or have not been skewing overall financial performance. This week we want to change the pace with a quick note about something else we’ve seen this earnings season: companies raising their guidance estimates for the full year. 

You can find guidance disclosures in Calcbench via our Disclosures & Footnotes Query page. Many companies (but not all; guidance disclosure is only voluntary) publish guidance updates along with their quarterly earnings releases. You can find guidance updates by selecting “Guidance Outlook” from the pull-down menu on the left side of your display.

We searched for S&P 500 companies that have filed guidance updates along with Q3 earnings, and so far found 341 instances. Among those raising guidance… 

• Amgen, raising its full-year revenue guidance by about $700 million

• Coca Cola, raising EPS growth from 9 or 10 percent ot 11 percent

• FedEx, raising revenue guidance from 11 percent to 12

• Kraft Heinz (technically, Kraft is reducing its expected decline in net sales)

• Republic Services, which bumped up revenue, adjusted EBITDA, and adjusted free cash flow

• UPS raised guidance for full-year revenue from $91.2 billion to $92.6 billion

That’s a wide spread of business sectors. Not every company is raising guidance, of course, but a good number are. That portends well for full-year earnings once Calcbench starts reporting those numbers in mid-January.

For now, as usual, here is our Earnings Tracker data shown again in table format.

Calcbench tracks these earnings using our Earnings Tracker template, which pulls in financial disclosures as companies file their latest earnings releases with the Securities and Exchange Commission. The Earnings Tracker provides an up-to-the minute snapshot of financial performance compared to the year-earlier period.

If Calcbench subscribers wish to get their hands on the template we use for this analysis, so you can conduct your own experiments at home, use this link to the file. 

Please note that it will only work with an active Calcbench subscription. If you need an active subscription (and who doesn’t, really, when swift access to real-time data is so important?), contact us at us@calcbench.com.

That’s all for this week. Come back next Friday for more!