Earnings Season Global: Beats, Misses and Guidance — 2026-09-10
Cooper Companies and GameStop delivered mixed results this week, with Cooper missing revenue estimates despite a narrow EPS beat, while GameStop met consensus expectations. In Europe, Siemens raised its full-year guidance following strong Q3 performance, contrasting with Autodesk's share decline after a guidance miss. Meanwhile, FactSet data indicates that 87% of S&P 500 companies have beaten EPS estimates for Q2 2026, signaling robust corporate profitability.
Earnings Season Global: Beats, Misses and Guidance — 2026-09-10
Top developments
Cooper Companies Misses Revenue Despite EPS Beat
Cooper Companies reported adjusted EPS of $1.15 for Q3 2026, beating consensus by $0.03, but missed revenue expectations, causing shares to fall. The company executed $339 million in share repurchases during the quarter, bringing fiscal year-to-date buybacks to $445 million. A discrete tax benefit of approximately $307 million from the completion of an HMRC examination also supported the bottom line.
GameStop Meets Earnings Expectations
GameStop announced earnings results on Tuesday, reporting $0.27 earnings per share, which matched analysts' consensus estimates. The company’s revenue of $790.20 million exceeded analyst estimates of $756.85 million. This result provides a stable data point for the Daily results tracker as the company navigates its retail strategy.
Siemens Raises Guidance on Strong Q3
Siemens increased its full-year guidance after reporting significant growth in order intake, revenue, and results in the third quarter. Despite the raised outlook, the share price declined, reflecting market caution or profit-taking. This development is critical for European blue-chip tracking, highlighting continued industrial strength in Germany.
Autodesk Shares Fall on Guidance Concerns
Autodesk reported Q2 2026 revenue of $2.05 billion and EPS of $3.30, beating the consensus estimate of $3.12. However, the stock declined on September 7, 2026, indicating that investors were disappointed by forward-looking guidance or other non-GAAP metrics.
Local view
In Japan, Nomura Securities strategists have raised their forecast for total shareholder returns, projecting total dividends at ¥31.6 trillion and share buybacks at ¥24.0 trillion for fiscal 2026, representing a 23.3% increase in total returns year-over-year. This upward revision highlights a structural shift in Japanese corporate governance and capital allocation. Additionally, Japanese media highlighted companies like NEXYZ.Group, which raised its full-year operating profit forecast to ¥2.2 billion and increased its ordinary dividend from ¥20 to ¥30.
Context & numbers
FactSet data reveals that for Q2 2026, with 99% of S&P 500 companies having reported, 87% beat EPS estimates. The blended earnings growth rate for Q2 2026 stands at 50.4%, significantly higher than the previous quarter's rate. The forward 12-month P/E ratio for the S&P 500 is currently 19.5, which is below the five-year average.
On the radar
- Avery Dennison: Zacks Research lowered EPS estimates for Q3 2026 on September 8, despite the company beating Q2 expectations with $2.89 EPS and $2.46 billion in revenue.
- Dover Corp: Reported strong Q2 2026 results with $2.19 billion in revenue and 40.2% gross margin, supporting the stock price.
- Skillsoft: Shares faced a sharp selloff following a Q2 2026 revenue miss.
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