Zacks Sees AI Chips and Refining Driving Q3 Earnings Setup
The publisher expects technology and energy earnings to outpace the S&P 500, while highlighting three companies ahead of results.
Key takeaways
- Zacks projects third-quarter S&P 500 earnings growth of 24.6%.
- Technology and energy earnings are forecast to rise 43.3% and 114.3%, respectively.
- Lam Research, TSMC and Marathon Petroleum are scheduled to report in October and November.
Zacks expects S&P 500 companies’ third-quarter earnings to rise 24.6% year over year, with revenue up 11.6%. Its preview puts technology earnings growth at 43.3% and energy growth at 114.3%.
The publisher points to continued AI-related demand for semiconductors and elevated oil prices following Persian Gulf disruptions as factors behind the sector outlooks. Semiconductor earnings are projected to increase 85.5%, according to Zacks.
Lam Research is scheduled to report fiscal first-quarter results on Oct. 21. The Zacks consensus estimate calls for $8.12 billion in revenue and $2.17 in earnings per share, up 52.4% and 72.2% year over year, respectively.
TSMC is due to report third-quarter results on Oct. 15. Zacks estimates revenue of $45.62 billion and earnings per share of $4.45, representing year-over-year growth of 37.8% and 52.4%.
Marathon Petroleum is scheduled to report on Nov. 3. Zacks estimates third-quarter earnings of $23.15 per share, a 669.1% increase from a year earlier. The company expects refinery throughput of 3.005 million barrels per day and 94% utilization.
This article was produced with the help of AI technology. Source: Yahoo Finance
