Pre-Market Earnings Report for October 29, 2025 : CAT, BA, VZ, UBS, ADP, CVS, TEL, FI, AEP, PSX, GRMN, ETR

Ahead of their Q3 2025 earnings reports, analysts project varied performance across several major companies. Caterpillar is expected to see a 12.57% year-over-year EPS decline, while Boeing anticipates a 76.44% increase despite a forecast loss. Other firms like Verizon, UBS, ADP, and CVS Health also have their consensus EPS and P/E ratios detailed, indicating a mixed outlook for the quarter across diverse sectors, with many showing higher P/E ratios relative to their industries.

Analysis

Several major companies are set to report Q3 2025 earnings, presenting a mixed outlook based on consensus analyst forecasts. Caterpillar (CAT) is projected to see a 12.57% year-over-year EPS decrease to $4.52, while Boeing (BA) is forecast for a significant 76.44% increase in EPS, despite an expected loss of $-2.46. Conversely, CVS Health (CVS) leads with a robust 24.77% projected EPS growth to $1.36, and TE Connectivity (TEL) anticipates a 17.44% increase to $2.29.

Many of these companies, including Caterpillar, Verizon (VZ), UBS, ADP, CVS, TEL, Fiserv (FI), AEP, PSX, GRMN, and ETR, exhibit higher 2025 P/E ratios compared to their respective industry averages, implying expectations for superior earnings growth. For instance, CVS's P/E of 12.96 significantly exceeds its industry's 2.30, and Garmin's (GRMN) P/E of 30.74 is notably higher than its industry's 0.20. This suggests that current valuations already price in substantial future growth for these firms.

Historical performance indicates several companies, such as Verizon, UBS, ADP, CVS, Fiserv, and Entergy (ETR), have consistently beaten consensus EPS expectations in the past year, suggesting potential for positive surprises. However, Phillips 66 (PSX) and Garmin both missed Q1 2025 consensus estimates by -16.88% and -2.42% respectively, warranting closer scrutiny of their upcoming results. The overall sentiment surrounding these reports is mildly positive, yet the diverse forecasts and P/E implications necessitate a granular approach.

Key Decisions for Investors

• Investors should closely monitor earnings releases for companies with consistent historical beats like Verizon, UBS, ADP, CVS, Fiserv, and Entergy, as they may continue to outperform consensus.
• Evaluate the implied growth embedded in the high P/E ratios relative to industry averages for companies such as Caterpillar, CVS, and Garmin, to assess if current valuations are justified by actual performance.
• Exercise caution and scrutinize the Q3 results for Phillips 66 and Garmin, given their recent Q1 2025 earnings misses, which could indicate ongoing operational challenges.