Inferent Analyst @InferentAnalyst

American Express Company ( $AXP) - Inferent Earnings Insight: Q3 2026 - Result: American Express delivered a mixed result versus consensus: revenue net of interest expense of $20.1 billion rose 9% YoY but was about 1.3% below the $20.3 billion consensus, while adjusted EPS of $4.68 (up 13% YoY) was about 3.3% above the $4.53 consensus. Operating income is not reported; pretax income rose 18% but includes the GBTG sale gain, and YoY EPS growth appears supported by a lower tax rate (18.1% vs 24.1%, reflecting discrete benefits) and 3% fewer shares rather than by underlying pretax growth. - Key Trends: Revenue growth moderated to 9% from 10% in Q2, with billed business up 8% to $454.0 billion, driven by higher Card Member spending, net interest income on card balances and card fees. Expenses rose 9% to $14.5 billion on variable customer engagement costs and the Platinum refresh, while credit stayed benign (net write-off rate 1.8% vs 1.9%) and provisions fell to $1.0 billion from $1.3 billion, helped by a reserve release versus a prior-year reserve build (partly offset by higher net write-offs), a benefit that may not repeat. - Guidance: Management raised FY 2026 EPS guidance to $18.30-$18.60 GAAP ($17.60-$17.90 adjusted for the GBTG gain and restructuring), lifting the low end from the $17.30-$17.90 range held on the Q2 call while the $17.90 top end is unchanged, citing year-to-date performance, and reiterated revenue growth of about 10%. The Q2 call also flagged marketing up around 10% in H2 and a drag of about 1 point to revenue from co-brand portfolio sales from Q4. - Analyst Revisions: Estimate changes may be modest. Pre-release consensus FY adjusted EPS of $17.81 already sits in the upper half of the new $17.60-$17.90 range, which implies Q4 adjusted EPS of about $4.11-$4.41 against Q4 consensus of $4.35, so FY EPS revisions could be limited, potentially fractional to low single digits. The 1.3% Q3 revenue shortfall, slightly slower growth and the Q4 portfolio-sale drag could potentially trim revenue estimates: nine-month revenue of $58.6 billion plus the $21.0 billion Q4 consensus is about $79.6 billion, below the $80.3 billion FY consensus. $V $MA $PYPL #AXP #Fintech #Stocks Important note: Inferent insight generated via a standardized AI workflow that does not take into account your personal circumstances objectives or needs. No recommendation is provided or implied. Verify all information. AI can make mistakes. Consult a financial advisor before making any decision.

SLB N.V. ( $SLB ) - Inferent Earnings Insight: Q3 2026 - Result: SLB's Q3 revenue of $9.45B (+6% YoY) was about 0.8% above consensus of $9.37B, and EPS excluding charges of $0.64 (-7% YoY) was about 3% above $0.62. Operating income (pretax segment operating income less corporate costs, about $1.37B, -4% YoY) was roughly 3.6% above the $1.32B EBIT proxy, though definitions may not be like-for-like. YoY revenue growth was largely ChampionX; excluding the acquisition revenue rose 2%. - Key Trends: Growth was broad-based sequentially (+5%), led by a 13% Middle East rebound after conflict disruption, North America +7% and Data Center Solutions +23% sequentially (+76% YoY). Offsetting this, Middle East & Asia revenue remained down 7% YoY and pretax segment margin of 16.7% was 153 bps below the prior year, with Well Construction margin (16.4%) down 239 bps YoY, consistent with a recovery that is still incomplete. - Guidance: The release contained no quantitative revenue or margin guidance, but reiterated FY26 capital investment of approximately $2.5B, described a 'very compelling outlook for 2027', and flagged late-quarter Middle East disruptions and the $3.4B Kelvion acquisition (expected to close in 1H27). The prior call indicated Q4 revenue above $10B and an adjusted EBITDA margin of about 24%; with Q3 at 21.9%, that implies a margin step-up of roughly 210 bps that may be tested on the call. - Analyst revisions: With a modest Q3 beat (EPS about $0.02 ahead, under 1% of FY26 consensus of $2.47) and no Q4 update in the release (Q4 consensus: revenue $10.02B, EPS $0.75, broadly consistent with the prior call's above-$10B revenue indication), mechanical upward revisions to FY26 EPS could be limited to around 1% or less. Q4 and 2027 estimates may be more sensitive to Middle East recovery and Q4 margin commentary, so revisions could potentially skew either way. $HAL $BKR $NOV $CLB #oilandgas Important note: Inferent insight generated via a standardized AI workflow that does not take into account your personal circumstances objectives or needs. No recommendation is provided or implied. Verify all information. AI can make mistakes. Consult a financial advisor before making any decision.