The Market's True Earnings Expectations

Go beyond the consensus and become a better stock picker with Earnings Whisper numbers, investor sentiment, and proprietary research and tools to help you capture the Post-Earnings Announcement Drift (PEAD) and outperform the overall stock market. Plus, get the most accurate earnings dates, earnings news, and insights into how stocks react before and after earnings.



Most Anticipated Earnings Releases TM

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The most anticipated earnings releases for the week beginning October 21, 2026 are TSLA Tesla META Meta Platforms CAJPY Canon LRCX Lam Research BE Bloom Energy

Earnings Whisper® Score

Expectations Get Priced In Before Earnings

The Earnings Whisper Score, from −5 to +5, measures the expectation setup ahead of a report. From Apr 2014 – Oct 2026, +5 Scores averaged +1.07% into earnings while −5 stocks averaged −0.26% — a 134-basis-point spread.

+1.07% +5 Score 11,384 events
+0.47% All others 122,032 events
+0.26% Neutral 18,060 events
−0.26% −5 Score 3,785 events

Average return, one week before the report through the open following the announcement.

−0.40% −0.20% 0.00% +0.20% +0.40% +0.60% +0.80% +1.00% +1.20% 1st Day 2nd Day 3rd Day 4th Day Gap +5 Scores All Others Neutral Scores −5 Scores
Cumulative average return by Earnings Whisper Score, Apr 2014 – Oct 2026.
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The Whisper Report®

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The Wrong Path

Monday, October 19, 2026
Fundamentals offer little evidence that the AI trade is over, but semiconductor price action tells a different story.
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Earnings Preview

CAJPY Canon is confirmed to report Tuesday, October 27, before the open.

Canon Tests Its Highs Into September-Quarter Results as Sentiment Turns Cautious

Canon heads into its September-quarter report with an unusual split between price and mood. The shares have climbed 7.7% since the company last reported, beating the S&P 500 by more than five percentage points, and now sit within a whisker of their post-earnings high. Yet sentiment among retail investors has soured, sliding to 28.3% bearish from 14.0% bearish ahead of the prior report. A stock that keeps rising while the crowd grows more skeptical raises the question this release must settle: is the rally resting on durable earnings power, or has it run ahead of the fundamentals?

The numbers set an undemanding hurdle on one measure and a tougher one on another. In the year-ago September quarter, Canon earned $0.48 per share on revenue of $7.49 billion. Last quarter it earned $0.89 per share on $7.41 billion in sales, nearly double the year-ago figure on slightly lower revenue. That gap is the heart of the setup. If Canon can deliver anything close to last quarter's profitability on a similar revenue base, the year-over-year comparison will look dramatic. But the more meaningful test is whether the margin structure behind that $0.89 holds, because the top line itself has not been growing. Revenue roughly flat against last year means earnings gains have to come from mix, pricing, cost discipline or currency rather than volume. No clear published consensus figure is available to anchor expectations, and management has not offered fresh quantitative guidance since the last report, so the market will judge the quarter largely against Canon's own recent run rate.

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Top Earnings News

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The recent, most closely watched, earnings results.

Southwest Airlines Beat Expectations, Guides Below Estimates

Wednesday, October 21, 2026 at 4:17 PM
Southwest Airlines (LUV) reported earnings of $0.66 per share on revenue of $8.42 billion for the third quarter ended September 2026. The consensus earnings estimate was $0.61 per share on revenue of $8.26 billion. The Earnings Whisper number was $0.50 per share. The company beat expectations by 32.00% while revenue grew 21.20% on a year-over-year basis.

The company said it expects fourth quarter non-GAAP earnings of $0.55 to $0.80 per share. The current consensus earnings estimate is $0.99 per share for the quarter ending December 31, 2026.

Southwest Airlines Co is an operator of passenger airline that provides scheduled air transportation in the United States and international markets.

CACI International Beat Expectations, Raises Guidance

Wednesday, October 21, 2026 at 4:15 PM
CACI International (CACI) reported earnings of $7.66 per share on revenue of $2.47 billion for the fiscal first quarter ended September 2026. The consensus earnings estimate was $6.45 per share on revenue of $2.50 billion. The Earnings Whisper number was $6.74 per share. The company beat expectations by 13.65% while revenue grew 8.17% on a year-over-year basis.

The company said it now expects fiscal 2027 non-GAAP earnings of $33.18 to $34.08 per share on revenue of $10.7 billion to $10.9 billion. The company's previous guidance was non-GAAP earnings of $32.96 to $33.86 per share on revenue of $10.7 billion to $10.9 billion. The current consensus earnings estimate is $32.24 per share on revenue of $10.8 billion for the year ending June 30, 2027.

CACI International Inc is a provider of information solutions and services to the U.S. government. Its segments include domestic operations and international operations.

Medpace Beat Expectations, Raises Guidance

Wednesday, October 21, 2026 at 4:15 PM
Medpace (MEDP) reported earnings of $4.84 per share on revenue of $716.00 million for the third quarter ended September 2026. The consensus earnings estimate was $4.45 per share on revenue of $708.75 million. The Earnings Whisper number was $4.64 per share. The company beat expectations by 4.31% while revenue grew 8.50% on a year-over-year basis.

The company said it now expects 2026 earnings of $17.97 to $18.32 per share on revenue of $2.835 billion to $2.855 billion. The company's previous guidance was earnings of $17.25 to $17.95 per share on revenue of $2.805 billion to $2.885 billion. The current consensus earnings estimate is $17.54 per share on revenue of $2.840 billion for the year ending December 31, 2026.

Medpace is a scientifically-driven, global, full-service clinical contract research organization (CRO) providing Phase I-IV clinical development services to the biotechnology, pharmaceutical and medical device industries.

The Drift

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Upcoming Earnings

Big Tech, Banks and Jets: Why This Earnings Week Could Set the Market's Tone

October 17, 2026
NFLX TSLA SPCX CLF BE ISRG
This is one of those weeks where Wall Street practically holds its breath. The marquee names are the ones everyone already has an opinion about. Netflix kicks things off with the kind of buzz that suggests traders expect good news from your weekend binge habit, while the social media giant behind your feed is heading in with quiet confidence and a tailwind at its back. On the industrial side, the aerospace and defense crowd looks sturdy, with the jet-engine maker and a cluster of missile-and-radar names walking in on solid footing. Carmakers are the wildcard: the electric-vehicle pioneer remains the stock everyone loves to argue about, and after a rough stretch the mood around it is cautiously warming, while the old-guard Detroit automaker is drawing surprisingly upbeat vibes. Expect fireworks either way, since options traders are bracing for some of these to swing hard the morning after.
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Recent Positive Earnings

XMTR 5.0% since the report




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