MTS Earnings

Coverage of corporate earnings and financial reports.
affiliate @MTSinsights

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Caterpillar $CAT Q2 2026 results:

• Q2 sales and revenues surged 24% YoY, the first time the company has generated over $20 billion in sales in a quarter

• Operating profit margin jumped 360 bps to 20.9%, with operating profit surging by 50% YoY

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Source: https://t.co/A6Z0rGT2d3

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🖥️ IBM drops some preliminary numbers ahead of its earnings next week.

• Revenue of $17.2 billion, up 1% YoY
• Software revenue up 5% YoY
• Consulting revenue flat, up 1% YoY at constant currency
• Infrastructure revenue down -7% YoY

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The big surprise is the drop in infrastructure revenue. IBM notes that this was caused by clients "shifting their quarterly capex spend" towards products that are expected to see price increases due to supply chain constraints.

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Press release: https://t.co/xWs2Dcq1gi

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Caterpillar $CAT reports strong topline growth while profits fall in Q3 2025.

Revenues increased 10% YoY to $17.6 billion, but rising costs led to a -3% YoY drop in operating profits.

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A large increase in manufacturing costs, related to the impact of higher tariffs, almost completely offset the increase in profits from the rise in sales volume.

As a result, operating margin fell -220 bps to 17.3%.

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🚚 Despite reporting a decline in revenue and operating income, $UPS shares an optimistic Q4 outlook, forecasting revenue of about $24.0 billion vs Wall Street expectations of $23.82 billion.

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$CHWY also raises its full-year guidance of net sales from $12.30 bil to $12.45 bil in Q1 2025 to $12.50 bil to $12.60 bil in Q2 2025.

Guidance of full-year adjusted EBITDA margin at 5.4% to 5.7% remains unchanged.

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🐶 Chewy $CHWY reports net sales growth of 8.6% YoY to $3.10 billion in Q2 2025, beating the guidance it gave last quarter of $3.06-$3.09 billion.

Gross margin improved 90 bps YoY to 30.4%, and adjusted EBITDA margin improved 80 bps YoY to 5.9%

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Philip Morris $PM shipment growth slows to just 1.2% YoY in Q2 2025, down from 3.9% YoY in Q1. Cigarette shipments down -1.5% YoY in Q2 vs +1.1% YoY in Q1.

Organic rev growth down to 6.8% YoY (vs 10.2% YoY in Q1). Operating income growth down to 7.8% YoY (vs 16.4% YoY in Q1).

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Coca-Cola $KO reports net revenues up 1% YoY and organic revenue growth of 5% YoY. Pricing and mix were a major driver of rev growth.

Global unit case volume fell -1% YoY, including North America down -1% YoY.

Organic rev guidance unchanged at 5% to 6%.

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$FAST attributes sales growth to "improved customer contract signings over the past six quarters" as current market conditions were described as "sluggish, providing minimal contribution."

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Fastenal $FAST, a wholesale distributor of industrial & construction supplies, reported net sales up 8.6% YoY in Q2 2025 and 6.0% YoY in H1 2025 as it posts a slight revenue beat.

Gross profit in Q1 2025 was up 9.2% YoY, and operating income expanded 12.7% YoY.

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Inventories were up 14.7% YoY in anticipation of the impact of tariffs and a projected growth in business.

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D.R. Horton $DHI: "The 2025 spring selling season started slower than expected as potential homebuyers have been more cautious due to continued affordability constraints and declining consumer confidence. Our net sales orders and homebuilding revenues in Q2 decreased 15% YoY..."

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Delta CEO Ed Bastian: "With broad economic uncertainty around global trade, growth has largely stalled. In this slower-growth environment, we are protecting margins and cash flow by focusing on what we can control."

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✈️ Delta $DAL reports operating margin down -0.5 ppts to 4.6%, and operating income down -8% YoY in Q1 2025.

Uncertainty prevents it from reaffirming full-year 2025 guidance.

#airlines

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Source: https://t.co/SR1HBj1X6n

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Updated Delta $DAL guidance for Q1 2025:

“Delta expects to deliver total revenue growth for the March quarter of 3% to 4% YoY. The outlook has been impacted by the recent reduction in consumer and corporate confidence caused by increased macro uncertainty…”