Earnings playbook: Apple and Caterpillar lead a big week of reports

The corporate earnings season intensifies this week, with megacap technology stocks and industrial giants alike set to report. More than 90 companies in the S & P 500 are due to post results, including Apple, Caterpillar and Microsoft. So far, the reporting period has been strong. FactSet data shows that 76% of the companies that have already posted earnings have exceeded estimates. John Butters, FactSet’s senior earnings analyst, also noted that the S & P 500 was on pace to record its 10th straight quarter of year-on-year profit growth. Investors could use some positive news after a wild week of trading, which ended with the S & P 500 logging a weekly decline. Below is a breakdown of some of the key companies set to report next week. All times ET. Tuesday General Motors is set to report earnings before the market opens, with a management call slated for 8:30 a.m. Last quarter: GM soared on increased guidance and better-than-expected earnings . This quarter: Analysts polled by LSEG expect earnings to have grown more than 10%. What to watch: GM earlier this month reported a 5.5% increase in annual sales in 2025. Investors will look for signs that this momentum will continue in 2026. What history shows: General Motors has beaten earnings expectations for 13 straight quarters, Bespoke Investment Group data shows. But the stock’s performance after those reports has been mixed, falling on seven occasions. Boeing is also set to report earnings premarket. A conference call with management is set for 10:30 a.m. Last quarter: BA took a $4.9 billion charge but staunched its cash burn for the first time since 2023. This quarter: The aerospace giant’s top line is expected to have surged more than 45% from the year-earlier period, according to LSEG. What to watch: Boeing could see some turbulence when its report comes out, according to UBS. The “bar is high but we expect a beat + guidance above expectations and a still-clear path to further beat/raises in 2026 and beyond,” the bank said in a note. What history shows: Boeing shares fell after the last two quarterly releases. The stock averages a 1% advance on days it reports Q4 results, per Bespoke. Wednesday Starbucks is set to report earnings before the open, with a call scheduled for 8 a.m. Last quarter: SBUX finally snapped a decline in same-store sales . This quarter: Analysts expect the coffee chain to report a year-on-year drop in earnings of more than 10%, according to LSEG. What to watch: Starbucks is set to hold an investor day 24 hours after it posts earnings, which will give investors more insight into the company’s near- and long-term prospects. “We believe SBUX could guide FY28 close to ~$4 (14-14.5% operating margins), while we also anticipate SBUX will bridge the path back to 17%+ operating margins over time, primarily driven by sales leverage and optimization of the cost structure, as well as tailwinds from recent store closures and the margin accretive China deal. We think next week could be a positive catalyst,” Deutsche Bank wrote. What history shows: Starbucks has missed Street estimates the last three quarters, with shares falling after all those reports. Microsoft is set to report earnings after the close, followed by a call at 5:30 p.m. Last quarter: MSFT dropped after increasing its spending forecast . This quarter: The Windows and XBox parent is expected to report earnings growth of more than 20%, LSEG data shows. What to watch: “Each business has unique factors for each business that could dictate results for upcoming quarters,” wrote Guggenheim analyst John DiFucci. “In Azure, we will listen closely for capacity commentary, which the company has indicated remains limited. In Windows OEM, memory disruptions could cause material variability in Windows PC shipments. For M365 Commercial, Copilot adoption will be important, as we continue to believe that MSFT is well positioned to benefit relative to other packaged application vendors.” What history shows: Bespoke data shows Microsoft tops earnings estimates 82% of the time. But the stock fell on four of the past six earnings days. Tesla is set to report earnings after the closing bell. Management will then hold a conference call at 5:30 p.m. Last quarter: TSLA revenue grew, snapping two straight quarters of declines. This quarter: Analysts polled by LSEG expect the electric car maker to see a year-over-year earnings decline of nearly 40%. What to watch: HSBC has low expectations for Tesla in this report, reiterating its “reduce” rating earlier this month. “After Q3 pre-buy effect, volume pressure returned in Q4 2025; ‘affordable models’ don’t appear to be helping much,” the bank said. What history shows: Tesla earnings have beaten Street expectations just once in the last five quarters, according to Bespoke. But the stock has risen after four of those releases. Meta Platforms is set to report earnings after the market close. A conference call is then set to begin at 4:30 p.m. Last quarter: META dropped after posting a big one-time tax charge . This quarter: Earnings are forecast to belittle changed year over year, but revenue is expected to have soared about 20%, according to LSEG. What to watch: Truist analyst Youssef Squali thinks app engagement and advertising will be the keys to a strong Meta report. “We … believe results will be at the higher-end of expectations fueled by strong user engagement & higher monetization from better ranking and recommendation,” he said in a note last week. What history shows: Meta earnings have beaten expectations for 12 straight quarters. The stock also averages a 1.9% advance on earnings days, Bespoke said. But Meta shares tumbled 11.3% after its last quarterly release. Thursday Caterpillar is set to report premarket earnings. Analysts and management will participate in a conference call at 8:30 a.m. Last quarter: CAT rallied after earnings and revenue topped analyst estimates. This quarter: The construction equipment maker’s bottom line is expected to have contracted by about 10%, per LSEG. What to watch: Caterpillar’s report comes after the stock scored its strongest annual performance since 2017, soaring 58%, with the Street seeing it as a leader in data center infrastructure. This report could signal whether Caterpillar can build on that run. What history shows: Bespoke data shows Caterpillar shares average a 0.4% decline on earnings days. But the stock closed higher after the last three releases. Apple is set to report earnings after the bell. A call is scheduled for 5 p.m. Last quarter: AAPL beat on earnings and revenue and said it sees strong iPhone 17 demand . This quarter: The iPhone maker is expected to post top and bottom-line growth of more than 10% compared to the year-earlier period, LSEG data shows. What to watch: The tech giant comes into this earnings release after suffering a seven-week long slump in its shares. Despite its recent struggles, Bank of America’s Wamsi Mohan is optimistic. “We see iPhone demand remaining strong (build plans likely revised upwards), and Services revs continuing double-digit y/y growth despite weaker App store sales in China.” What history shows: Apple shares have fallen on five straight earnings days.