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    Procter & Gamble, Western Digital On Deck Thursday As Growth, AI Demand Face Test

    Benzinga·10/21/2026 19:30:25
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    Procter & Gamble headlines Thursday’s reports, with investors weighing resilient consumer demand against cost pressures and softer earnings growth. Union Pacific, Lockheed Martin, Valero Energy and Spotify report before the open; Western Digital, Newmont, Bloom Energy, Comfort Systems USA and Bank Bradesco report after the close.

    Key Reports Before The Bell

    Procter & Gamble (NYSE:PG) — Q1 — 7:00 a.m. ET

    • EPS: $1.89 est. vs. $1.99 a year ago (-5%)
    • Revenue: $22.80 billion est. vs. $22.39 billion a year ago (+2%)
    • Stock: +6.1% past month, +9.8% YTD, 6.0% below its 52-week high
    • Analyst view: Buy consensus, $162 target (11 analysts)

    Procter & Gamble has beaten estimates in all of its past eight quarters, but the focus is whether brand strength and pricing can offset cost pressures in its new fiscal year. In Q4, it beat on EPS but missed revenue. On its July call, management highlighted product innovation, stronger brand communication and retailer partnerships as priorities for fiscal 2027. RBC Capital reiterated its Outperform rating and $166 price target on Oct. 20.

    Union Pacific (NYSE:UNP) — Q3 — 7:45 a.m. ET

    • EPS: $3.47 est. vs. $3.08 a year ago (+13%)
    • Revenue: $7.12 billion est. vs. $6.24 billion a year ago (+14%)
    • Stock: +4.8% past month, +24.3% YTD, 9.0% below its 52-week high
    • Analyst view: Buy consensus, $335 target (15 analysts)

    Union Pacific has beaten estimates in five of its past eight quarters, with investors watching whether volume growth and operating execution can extend the railroad’s strong earnings momentum. In Q2, it beat on both EPS and revenue. On its July call, management pointed to a 2% volume increase, strong execution and efficiency gains behind record results. Citigroup maintained its Buy rating while lowering its target to $338 from $349 on Oct. 7.

    Lockheed Martin (NYSE:LMT) — Q3 — 6:30 a.m. ET

    • EPS: $7.51 est. vs. $6.95 a year ago (+8%)
    • Revenue: $20.46 billion est. vs. $18.61 billion a year ago (+10%)
    • Stock: +4.8% past month, +13.2% YTD, 20.9% below its 52-week high
    • Analyst view: Hold consensus, $618 target (8 analysts)

    Lockheed Martin has beaten estimates in six of its past eight quarters, while the defense contractor faces scrutiny over program execution, munitions capacity and the conversion of its large backlog into cash flow. In Q2, it beat on both EPS and revenue. On its July call, management highlighted a record backlog, major THAAD and GMLRS contracts, and a strategic focus on munitions capacity and open-architecture technology. RBC Capital maintained its Sector Perform rating while lowering its target to $550 from $600 on Oct. 15.

    Valero Energy (NYSE:VLO) — Q3 — 6:30 a.m. ET

    • EPS: $21.15 est. vs. $3.66 a year ago (+478%)
    • Revenue: $41.68 billion est. vs. $32.17 billion a year ago (+30%)
    • Stock: +15.5% past month, +167.6% YTD, 5.7% below its 52-week high
    • Analyst view: Buy consensus, $430 target (13 analysts)

    Valero Energy has beaten estimates in all of its past eight quarters, making refining margins, throughput and renewable diesel performance the key tests after a sharp run in the stock. In Q2, it beat on both EPS and revenue. On its July call, management pointed to record earnings driven by refining and renewable diesel, with refining operating income reaching $4.5 billion. Wells Fargo maintained its Overweight rating while raising its target to $485 from $389 on Oct. 14.

    Spotify Technology (NYSE:SPOT) — Q3 — 6:00 a.m. ET

    • EPS: $3.12 est. vs. $3.83 a year ago (-19%)
    • Revenue: $5.73 billion est. vs. $4.99 billion a year ago (+15%)
    • Stock: +3.4% past month, -10.7% YTD, 25.7% below its 52-week high
    • Analyst view: Buy consensus, $609 target (16 analysts)

    Spotify has beaten estimates in just three of its past eight quarters, leaving monetization, margins and user growth as the central tests for a stock still well below its 52-week high. In Q2, it missed on both EPS and revenue. On its August call, management highlighted record gross margin, more than 300 million subscribers, emerging-market monetization and AI-driven personalization. Rosenblatt reiterated its Neutral rating and $527 price target on Oct. 20.

    Key Reports After The Bell

    Western Digital (NASDAQ:WDC) — Q1 — 4:02 p.m. ET

    • EPS: $4.06 est. vs. $1.78 a year ago (+128%)
    • Revenue: $4.14 billion est. vs. $2.82 billion a year ago (+47%)
    • Stock: -18.9% past month, +118.8% YTD, 52.7% below its 52-week high
    • Analyst view: Buy consensus, $630 target (14 analysts)

    Western Digital has beaten estimates in seven of its past eight quarters, with investors watching whether AI and cloud-storage demand can support another step-up while the stock absorbs a steep recent pullback. In Q4, it beat on both EPS and revenue. On its August call, management cited strong AI and cloud demand, improving margins and customer interest in higher-capacity storage products. B of A Securities maintained its Buy rating while raising its target to $800 from $720 on Oct. 21.

    Newmont (NYSE:NEM) — Q3 — 4:05 p.m. ET

    • EPS: $1.93 est. vs. $1.71 a year ago (+13%)
    • Revenue: $6.24 billion est. vs. $5.52 billion a year ago (+13%)
    • Stock: -8.9% past month, +16.1% YTD, 13.9% below its 52-week high
    • Analyst view: Buy consensus, $137 target (9 analysts)

    Newmont has beaten estimates in six of its past eight quarters, with gold production, costs and free-cash-flow generation in focus after its prior miss. In Q2, it missed on both EPS and revenue. On its July call, management highlighted production across gold, copper and silver, record free cash flow and progress on the Red Chris project in British Columbia. Citigroup maintained its Buy rating while raising its target to $140 from $125 on Oct. 20.

    Bloom Energy (NYSE:BE) — Q3 — 4:05 p.m. ET

    • EPS: $0.65 est. vs. $0.15 a year ago (+333%)
    • Revenue: $1.07 billion est. vs. $0.52 billion a year ago (+106%)
    • Stock: -13.7% past month, +174.8% YTD, 31.6% below its 52-week high
    • Analyst view: Buy consensus, $291 target (17 analysts)

    Bloom Energy has beaten estimates in seven of its past eight quarters, and the key question is whether demand for on-site power in AI data centers can sustain its rapid growth without eroding margin expansion. In Q2, it beat on both EPS and revenue. On its July call, management pointed to record revenue, accelerating data-center deliveries and stronger product and services margins. Truist Securities maintained its Hold rating while raising its target to $240 from $218 on Oct. 16.

    Comfort Systems USA (NYSE:FIX) — Q3 — 4:05 p.m. ET

    • EPS: $12.76 est. vs. $8.25 a year ago (+55%)
    • Revenue: $3.39 billion est. vs. $2.45 billion a year ago (+38%)
    • Stock: -13.2% past month, +51.1% YTD, 31.9% below its 52-week high
    • Analyst view: Buy consensus, $2,162 target (5 analysts)

    Comfort Systems USA has beaten estimates in all of its past eight quarters, with the focus on whether technology-related demand and its sizable backlog can keep translating into strong project execution. In Q2, it beat on both EPS and revenue. On its July call, management highlighted record quarterly revenue, strong earnings growth and a backlog that reached $14.1 billion. KeyBanc maintained its Overweight rating while raising its target to $2,125 from $2,110 on Oct. 15.

    Bank Bradesco (NYSE:BBD) — Q3 — 5:00 p.m. ET

    • EPS: $0.13 est. vs. $0.09 a year ago (+44%)
    • Revenue: $7.55 billion est. vs. $2.94 billion a year ago (+157%)
    • Stock: +13.3% past month, +21.5% YTD, 11.4% below its 52-week high
    • Analyst view: Hold, $3.90 target (1 analyst)

    Bank Bradesco has not beaten estimates in any of its past eight quarters, putting asset quality, loan growth and profitability at the center of the report. In Q2, it missed on both EPS and revenue. On its May call, management highlighted growth in secured lending, technology investment and productivity improvements. HSBC downgraded the stock to Hold from Buy on Oct. 8.

    Also Reporting Before The Bell

    • Blackstone (NYSE:BX) — $1.29 EPS on $3.34 billion revenue
    • Comcast (NASDAQ:CMCSA) — $0.98 EPS on $29.24 billion revenue
    • Barclays (NYSE:BCS) — $0.67 EPS on $10.18 billion revenue
    • Norfolk Southern (NYSE:NSC) — $3.47 EPS on $3.47 billion revenue
    • Honeywell International (NASDAQ:HON) — $2.17 EPS on $5.01 billion revenue
    • Nasdaq (NASDAQ:NDAQ) — $1.02 EPS on $1.46 billion revenue
    • argenx (NASDAQ:ARGX) — -$20.78 EPS on $1.64 billion revenue
    • Nokia Oyj (NYSE:NOK) — $0.08 EPS on $5.80 billion revenue
    • Roper Technologies (NASDAQ:ROP) — $5.79 EPS on $2.17 billion revenue
    • CBRE Group (NYSE:CBRE) — $1.96 EPS on $11.89 billion revenue
    • Huntington Bancshares (NASDAQ:HBAN) — $0.38 EPS on $2.83 billion revenue
    • PG&E (NYSE:PCG) — $0.42 EPS on $6.78 billion revenue

    Industrials: Dover (DOV), Snap-on (SNA), Carpenter Technology (CRS), Allegion (ALLE), Ryder System (R), American Airlines Group (AAL) and MSC Industrial Direct (MSM).

    Financials: Popular (BPOP), Old Republic International (ORI), FirstCash Holdings (FCFS), Valley National Bancorp (VLY), First BanCorp (FBP), Bread Financial Holdings (BFH) and Lazard (LAZ).

    Consumer discretionary: PulteGroup (PHM), Tractor Supply (TSCO), Pool (POOL) and Visteon (VC).

    Materials: Dow (DOW) and Ardagh Metal Packaging (AMBP).

    Technology: TTM Technologies (TTMI) and Badger Meter (BMI).

    Real estate: FirstService (FSV) and Curbline Properties (CURB).

    Also on the calendar: Quest Diagnostics (DGX) and Vita Coco (COCO).

    Plus 10 companies valued between $100 million and $2 billion, including S&T Bancorp, Gentherm and ConnectOne Bancorp.

    Also Reporting After The Bell

    • VeriSign (NASDAQ:VRSN) — $2.42 EPS on $440.7 million revenue
    • Omnicom Group (NYSE:OMC) — $2.67 EPS on $6.20 billion revenue
    • SS&C Technologies Holdings (NASDAQ:SSNC) — $1.73 EPS on $1.69 billion revenue
    • Deckers Outdoor (NYSE:DECK) — $1.80 EPS on $1.51 billion revenue
    • Kinsale Capital Group (NYSE:KNSL) — $5.08 EPS on $477.5 million revenue
    • Rexford Industrial Realty (NYSE:REXR) — $0.60 EPS on $236.9 million revenue
    • Columbia Banking System (NASDAQ:COLB) — $0.77 EPS on $687.7 million revenue
    • AppFolio (NASDAQ:APPF) — $1.70 EPS on $294.3 million revenue
    • RingCentral (NYSE:RNG) — $1.16 EPS on $667.3 million revenue
    • MaxLinear (NASDAQ:MXL) — $0.51 EPS on $211.2 million revenue
    • Glacier Bancorp (NYSE:GBCI) — $0.79 EPS on $332.0 million revenue
    • Associated Banc-Corp (NYSE:ASB) — $0.76 EPS on $463.8 million revenue

    Financials: Ameris Bancorp (ABCB), Selective Insurance Group (SIGI), Eastern Bankshares (EBC), Enova International (ENVA), SLM (SLM), WSFS Financial (WSFS), First Interstate BancSystem (FIBK), Customers Bancorp (CUBI), Hilltop Holdings (HTH) and 1st Source (SRCE).

    Real estate: Kilroy Realty (KRC) and Corporacion Inmobiliaria Vesta SAB de CV (VTMX).

    Also on the calendar: Boyd Gaming (BYD), Robert Half (RHI) and Knowles (KN).

    Plus 15 companies valued between $100 million and $2 billion, including Boston Beer, Byline Bancorp and Universal Insurance Holdings.

    Benzinga Earnings Calendar