Pre-Market Earnings Report for October 22, 2025 : TMO, T, GEV, APH, BSX, CME, MCO, VRT, HLT, WAB, TDY, NTRS

On October 22, 2025, a range of companies including Thermo Fisher Scientific, AT&T, and GE Vernova are set to release Q3 2025 earnings, revealing varied performance outlooks. GE Vernova is projected for a substantial 408.57% year-over-year EPS increase, while AT&T anticipates an 8.33% decline. Many firms, such as Thermo Fisher and Boston Scientific, have consistently surpassed earnings expectations in the past year, with their 2025 P/E ratios often exceeding industry averages, indicating market confidence in their future growth trajectories.

Analysis

A diverse group of companies is scheduled to report Q3 2025 earnings on October 22, presenting varied analyst expectations and historical performance. Strong performers like Amphenol (APH) and Vertiv Holdings (VRT) are projected for significant year-over-year EPS increases of 58.00% and 31.58% respectively, supported by consistent earnings beats. Thermo Fisher Scientific (TMO) and Boston Scientific (BSX) also show robust fundamentals, with projected EPS growth of 4.17% and 12.70% and a perfect track record of beating consensus estimates.

GE Vernova (GEV) exhibits an exceptionally high consensus EPS growth forecast of 408.57% year-over-year, despite a prior miss in Q4 2024 by -25.43%. In contrast, AT&T (T) faces a projected EPS decrease of 8.33% year-over-year and missed Q1 2025 consensus by -1.92%, signaling potential headwinds. Many companies, including TMO, BSX, MCO, VRT, HLT, WAB, and NTRS, trade at 2025 P/E ratios significantly above their industry averages, implying market expectations for superior earnings growth.

Teledyne Technologies (TDY) stands out with a 2025 P/E of 26.62, considerably below its industry average of 56.90, despite consistent earnings beats and a 7.84% projected EPS increase. This valuation disparity, coupled with its historical performance, suggests potential mispricing or differing market growth expectations relative to its aerospace and defense peers.

Key Decisions for Investors

• Investors should closely monitor Q3 2025 earnings for companies with strong historical beats and high projected EPS growth, such as Amphenol (APH), Vertiv Holdings (VRT), Thermo Fisher Scientific (TMO), and Boston Scientific (BSX), to confirm continued momentum.
• Exercise caution with AT&T (T) given its projected negative EPS growth and recent misses, and scrutinize GE Vernova (GEV)'s results carefully due to its exceptionally high growth forecast juxtaposed with a prior earnings miss.
• Evaluate Teledyne Technologies (TDY) for potential value, as its 2025 P/E is significantly below its industry average despite consistent earnings beats and positive growth, suggesting a possible mispricing.
• For companies with elevated P/E ratios relative to their industry, such as Moody's (MCO) and Hilton (HLT), investors should assess if reported earnings and forward guidance adequately justify these higher valuations.