Zacks Sees Strong Q3 Growth for Chipmakers and Marathon
Zacks estimates point to strong third-quarter earnings growth in technology and energy, with results due soon from Lam, TSMC and Marathon.
Key takeaways
- Zacks expects S&P 500 third-quarter earnings to grow 24.6% year over year.
- Zacks estimates technology earnings will rise 43.3% and energy earnings 114.3%.
- Lam, TSMC and Marathon are scheduled to report on Oct. 21, Oct. 15 and Nov. 3.
Zacks Equity Research highlighted Lam Research, Taiwan Semiconductor Manufacturing and Marathon Petroleum ahead of their upcoming earnings reports. Its earnings preview estimates S&P 500 third-quarter earnings will rise 24.6% year over year, with revenue up 11.6%.
The estimates point to faster growth in technology and energy. Zacks expects technology earnings to increase 43.3% and energy earnings 114.3%; semiconductor earnings are forecast to climb 85.5%.
For Lam, the Zacks consensus estimate calls for fiscal first-quarter revenue of $8.12 billion and earnings per share of $2.17. The company is scheduled to report on Oct. 21.
TSMC is expected to post $45.62 billion in third-quarter revenue and earnings of $4.45 per share, according to Zacks estimates. Its report is scheduled for Oct. 15.
Zacks estimates Marathon will earn $23.15 per share in the third quarter, a 669.1% year-over-year increase. Marathon is scheduled to report on Nov. 3. The company expects refinery throughput of 3.005 million barrels per day and utilization of 94%.
This article was produced with the help of AI technology. Source: Yahoo Finance
