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 23, 2026 are CAJPY Canon MSFT Microsoft GOOGL Alphabet INTC Intel AMZN Amazon.com

The Earnings Quarter

The Gap Gets the Headline. The Quarter Pays.

A company reports once every three months. Its stock spends the other eighty-nine days deciding what the report meant — and that path has a shape. Knowing whether a stock is still drifting on its last report, sitting in the quiet middle, or already running up into the next one tells you which questions matter now, and where the odds are quietly tilting.

53% Gap higher after reporting
+3.5% Average up gap previous close to open
−3.8% Average down gap previous close to open

The gap is the opening move. What happens over the following three months is a different question — and a more useful one.

A worked example, not an average: JPM across its own earnings quarters, indexed to its price two weeks before each report.
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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.

Sallie Mae Missed Expectations
Thursday, October 22, 2026 at 4:30 PM
Sallie Mae (SLM) reported a loss of $0.19 per share on revenue of $616.48 million for the third quarter ended September 2026. The consensus earnings estimate was $0.12 per share on revenue of $353.66 million. The Earnings Whisper number was $0.09 per share. The company missed expectations by 311.11% while revenue fell 6.25% compared to the same quarter a year ago.

SLM Corp is engaged in saving, planning and paying for education company. It provides funding, delivery & servicing support for education loans in the United States through its private education loan programs.

Comfort Systems USA Beat Consensus Estimates
Thursday, October 22, 2026 at 4:15 PM
Comfort Systems USA (FIX) reported earnings of $13.91 per share on revenue of $3.77 billion for the third quarter ended September 2026. The consensus earnings estimate was $12.71 per share on revenue of $3.35 billion. The company beat consensus estimates by 9.44% while revenue grew 53.67% on a year-over-year basis.

Comfort Systems USA Inc provides heating, ventilation & air conditioning installation, maintenance, repair & replacement services. It also offers building automation control systems, fire protection, process cooling & electronic monitoring services.

Deckers Brands Beat Expectations, Provides Mixed Guidance
Thursday, October 22, 2026 at 4:05 PM
Deckers Brands (DECK) reported earnings of $2.03 per share on revenue of $1.48 billion for the fiscal second quarter ended September 2026. The consensus earnings estimate was $1.82 per share on revenue of $1.51 billion. The Earnings Whisper number was $1.90 per share. The company beat expectations by 6.84% while revenue grew 3.47% on a year-over-year basis.

The company said it now expects fiscal 2027 earnings of $7.80 to $7.95 per share on revenue of $5.700 billion to $5.725 billion. The company's previous guidance was earnings of $7.35 to $7.50 per share on revenue of $5.860 billion to $5.910 billion. The current consensus earnings estimate is $7.50 per share on revenue of $5.900 billion for the year ending March 31, 2027.

Deckers Outdoor Corp is engaged in designing, marketing and distributing innovative footwear, apparel and accessories developed for both everyday casual lifestyle use and high performance activities.

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
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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

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