Wednesday, July 29, 2026

Consensus for this print is $0.90 EPS on $7.53B revenue, above the midpoint of management's $7.35B-$7.65B revenue guide; management also guided Q1 CPI growth to +20% to +30%, weighted to the second half. Flex has beaten EPS estimates for seven straight quarters, and the confirmed customers and competitors mostly beat and raised, so the signals suggest Flex could land at or above the high end of the revenue guide. The specific question going in is whether management keeps the full-year CPI target of +65% to +75% intact and shows CPI margin starting to recover the 100 basis points of margin it lost last year. The one number to watch is CPI revenue growth: if it comes in near +20% rather than +30%, the back half would need to accelerate sharply to hit the full-year target.

Consensus for this quarter is $1.18 EPS on $8.26B revenue. Management guided to $8.1–8.2B revenue and $1.14–1.16 EPS, so consensus sits above the top of both ranges. Amphenol has beaten 7 straight quarters and beat its own Q1 guide by roughly $0.6B above the top sales range and by $0.13 above the top EPS range, so the signals suggest it could beat again. The question is whether management holds the CommScope $4.1B sales / $0.15 accretion promise, keeps the tax rate at 27%, and keeps book-to-bill above 1. Watch book-to-bill: 1.24 in Q1; if it drops below 1, order momentum could be cooling.

Q2 consensus is $2.46 EPS on $2.14B revenue. Management didn't give a separate Q2 EPS or revenue guide; the full-year framework is $2.4–2.6B adjusted EBITDA, aggregate shipments +1–3%, aggregate price +4–6%, and unit cash cost up low single digits. Q1 price was +4%, the low end of the guide, so the market likely needs to see price acceleration in Q2. MLM's beat and raise, plus the growing data-center pipeline, suggest VMC could beat. The question is whether management keeps the FY EBITDA range intact and how they frame the diesel cost path; the single number to watch is Q2 aggregate freight-adjusted price: another +4% would put more weight on H2; +5% or better would make the full-year price guide look safer.

Consensus is $1.47 core EPS on $11.18B revenue for Q2, the revenue figure about 6% above Q1's $10.5B. Management raised full-year 2026 core EPS guidance to $7.60-$7.80 in April and expects critical infrastructure revenue to grow more than 60%. The signals — seven straight quarterly beats, EMCOR raising, a fast-growing infrastructure run-rate — suggest CBRE could beat again, but the stock's muted post-earnings move and Newmark's share-gain comments mean the guide matters as much as the number. The specific question is whether management raises the full-year core EPS guide again and keeps the >60% critical-infrastructure growth promise intact. The one number to watch is critical-infrastructure revenue growth: if Q2 or the FY guide slips below that >60% path, the AI story could lose some near-term momentum.

Consensus is $3.78 EPS and $703M revenue. Management guided to $690-710M revenue and $3.65-3.85 EPS, so consensus sits inside the range. The booking trend, broad-based demand comments, and competitor raises suggest LFUS could beat again. The specific question is whether management raises the full-year outlook, updates Basler's $130-135M revenue contribution, and says data center growth stayed in 'strong double digits.' The one number to watch is book-to-bill: if it drops below 1.0, forward demand would look softer even if the quarter beats.

Consensus for the quarter is $1.21 EPS on $3.97B revenue. Management's full-year guide is $4.90-$5.70 EPS, low single-digit organic growth, and roughly 150 bps of gross-margin expansion; full-year consensus EPS of $5.38 sits just above the midpoint. SWK has beaten EPS for 7 straight quarters, and Q1 beat by $0.20 above the high end of the guided range, so the signals suggest they could beat again. The key question is whether management reaffirms or narrows the full-year range and whether gross margin is on a credible path to 35% by Q4. The one number to watch is adjusted gross margin: 30.2% last quarter, and a repeat near that level would leave a very steep climb to the Q4 target.

Consensus expects $1.30 adjusted EPS (earnings per share, excluding one-time items) on $6.46B revenue, while management's Q3 guide is about $1.28 adjusted EPS, about 6% organic sales growth, and about 45% operating leverage. Consensus sits slightly above the guide, so a small beat on the guide (e.g., $1.29) could still land below the $1.30 consensus. The strong ecosystem and backlog suggest JCI could beat its own guide, but the key question is whether management reaffirms or raises the full-year promises: ~6% organic growth, ~$4.85 EPS, ~50% operating leverage, and ~$100M of CDU revenue. The single most important number is Q3 organic sales growth; a print clearly below ~6% could put the full-year target at risk.

Consensus EPS (earnings per share) estimate for Q2 2026 is $0.39 on $865M revenue. Management raised full-year 2026 guidance in April to $3.775B-$3.875B revenue and $1.87-$1.98 adjusted EPS. Seven straight beats, Q1 momentum, and strong competitor results suggest they could beat again. The question is whether management raises or holds the full-year guide and whether Capital Markets growth holds up. The number to watch is Capital Markets revenue growth — it was +45.5% in Q1 with volumes +67.6%; a sharp deceleration could make the consensus revenue line and the guide look aggressive.

Consensus for Q2 is $1.63 EPS on $870M revenue. Management hasn't given a Q2 point guide in the source material; the full-year frame is EPS growth of 5%–15%, capex of $220M–$260M, and operating cash flow of $575M–$675M. The signals — +45% Power Gen growth last quarter, book-to-bill above 1, backlog at the top end, and an inferred supplier's guidance raise — suggest KEX could beat. The question is whether management formally raises the Power Gen backlog range and how it frames engine availability. The number to watch is Power Gen revenue growth: roughly holding near +45% YoY would support the beat case; a drop below 30% could mean supply is binding harder than expected and pressure the print.

Consensus for the July 29 report is $3.37 EPS on $620M revenue, about 27% of trailing revenue, while full-year consensus is $13.01 EPS and $2.33B revenue, close to flat with FY2026's $13.16 EPS. Management has not given a formal quarterly financial guide in the source. Signals are mixed: Heavy Materials momentum, cement volume growth of +8% last year, and stronger data-center commentary could support a beat, but EXP has beaten only 2 of the last 7 quarters and Light Materials is still weak. The key question is whether management sounds as though full-year results could land at or above consensus. The single most important number is cement volume growth—if it decelerates sharply from +8%, the data-center narrative loses its main evidence.

Consensus for this print is $0.16 EPS on $2.14B revenue; last quarter EPS was $0.20, and UMC has beaten in 4 of the last 7 quarters. There is no explicit Q2 guide in the source, but the full-year stance is shipment growth with a stronger second half. The ecosystem signals suggest UMC could land at or above consensus, though the valuation is far above its historical median. The question is whether management keeps the 2027 advanced-packaging target and the 22nm mix climb on track. Watch 22nm revenue share: it hit a record 13% in Q4 2025; a stalling or decline there would weaken the growth story.

Consensus (average analyst estimate) for the July 29 report is $2.11 EPS on $905M revenue. Management's full-year guide is $8.35-$8.55 EPS, 3-4% organic growth, and 26.5-27% adjusted EBITDA margin; consensus FY EPS of $8.50 sits above the midpoint by $0.05. The signals suggest the quarter could be solid, but the market's reaction likely depends on whether management raises the full-year outlook again and whether HST order growth stays double-digit. Watch HST organic orders: a sharp deceleration from +17% could undermine the backlog-into-2027 story.

Consensus expects -$0.01 EPS on $304M revenue, up from Q1's $271M. Management did not give a Q2 revenue guide in the source; it guided roughly 12 fleets, up from 11, and FY2026 capex of $540M-$610M. The internal fleet signal suggests a sequential revenue gain is possible, but consensus already implies 12% QoQ growth while fleet count is only up about 9%. They could beat if completions pricing holds and PROPWER contributes; they could miss if pricing weakens or the 60MW data-centre commissioning slips. The number to watch is PROPWER contracted capacity: an increase beyond 240MW would make the AI story more concrete, while no new data-centre deal would keep it a small call option.

Consensus for the quarter is $0.80 EPS (earnings per share) on $2.11B revenue, roughly 21% of trailing revenue. Management guided Q2 EPS to $0.76-$0.82, so consensus sits near the midpoint. The signals suggest WEC could beat the EPS number, but the more specific question is whether management keeps the $5.51-$5.61 full-year guide and signals that the expected new data-center customer announcement is still on track for the Q3 2026 call. Watch the large-customer load figure: if the current 3.9 GW stays intact and the possible 4-5 GW addition is mentioned, the stock could be rewarded even with a small EPS beat. If EPS is strong only because of one-time operations-and-maintenance timing, or the load figure is cut, the print could be sold.

Consensus is $0.26 earnings per share (EPS) on $632M revenue; management reaffirmed full-year production and cost guidance but gave no specific Q2 guide. Q1 revenue was $757M, so the Q2 consensus implies a ~17% sequential drop. HBM's 4-of-6 beat history and the sector's high beat rate suggest they could beat, but the layer's pattern of sold beats means the stock might not react positively. The question is whether management keeps the FY26 guide intact and confirms the Copper Mountain 50ktpd ramp. Watch the consolidated cash cost per pound of copper — that cost measure was -$1.80 in Q1; if it swings back toward positive, the EPS beat could be harder to repeat.

Consensus is $0.76 EPS on $1.61B revenue for this quarter. Management's open full-year revenue guide is $6.5B-$6.8B, and consensus sits essentially at the midpoint. The ecosystem signals and backlog suggest revenue could beat, and the company has beaten 5 of the last 7 quarters. The key question is whether management can hold the full-year guide and keep adjusted EBITDA margin near Q1's record 10.1%. Watch book-to-bill: Q1 was 1.4x; if it falls below 1.0, the case for continued record backlog would weaken.

Consensus for this quarter is $1.01 in earnings per share and $3.49B in revenue. Management hasn't given a specific quarterly guide; its latest updates affirmed 2026 EPS, raised industrial growth guidance to 16% CAGR, and set 2029 EPS at $6.40. ETR has beaten 6 of the last 7 quarters, and the ecosystem signals suggest it could beat again, though the layer data shows a beat is no guarantee of a positive reaction. The specific question is whether management holds or raises the 2029 target and the 16% industrial growth guide. Watch industrial sales growth: it was +15% last quarter; a meaningful slowdown would put that long-term guide under pressure.

Consensus is $2.01 EPS on $1.18B revenue for Q2. Management hasn't given a Q2-specific number; it set FY ranges of mid-to-high teens sales growth and 18.5%-19.5% adjusted EBITDA margin. The raised C&I guide, the >$700M backlog, and the June supply agreement suggest Q2 could beat consensus. The question is whether management raises again or converts the $600M notice into booked backlog. Watch C&I growth: Q1 was +28%; if it holds in the mid-to-high 20s the story likely stays intact, and if it steps down sharply the stock could fall even on a headline beat.

Q2 consensus is $0.55 EPS on $783M revenue, roughly 24% of trailing revenue. Management has not given a Q2 revenue guide in the source; its full-year 2026 EPS guide is $2.38–$2.48, midpoint $2.43. The ecosystem signals and the Google contract suggest OGE could meet or beat consensus if weather and O&M costs normalize. The main question is whether management confirms the large-load tariff was filed by July 1 and whether the 2026 weather-normalized load growth guide of 4–6% is raised or just reaffirmed. The number to watch is that load-growth guide — an upward change could signal the large-load story is accelerating, while a simple reaffirmation might keep the ramp on the prior timeline.

Consensus for the quarter is $3.38B revenue and $1.43 EPS. Management did not give a Q2-specific guide in the source; its raised FY2026 guide is $13.75B revenue, 23.3% adjusted operating margin and $6.35 EPS. The ecosystem signals and backlog suggest VRT could beat consensus. The main question is whether management raises the full-year guide again and how concrete the EMEA recovery sounds. Watch orders and book-to-bill: if the 2.9x pace is still visible, the guide has support; if orders decelerate, the margin path gets harder.

Q2 2026 consensus expects $0.46 EPS on $963M revenue; management last reported $0.49 EPS on $985M and raised full-year midpoints to $3.75B sales, $560M adjusted EBIT, and $415M FCF. Six of the last seven quarters were beats. The signals suggest GTX could beat again, but the stock's 77% EV/EBITDA premium to its own median means the market may already expect a raise. The key question is whether management raises the full-year guide again and confirms E-Cooling test shipments are on schedule. Watch the E-Cooling update — any delay past Q3 would put the 2027 production ramp at risk.

Consensus (the average of analyst estimates) expects $1.33 in EPS and $155M in revenue for Q2 2026. Management hasn't given a numeric Q2 guide; it said Q2 should be "stronger than we've seen in recent years." The 6-of-7 beat record and strong backlog suggest NWPX could beat. The call's key test is whether management puts a dollar figure on the data-center book and holds gross margin near Q1's 19.3%. The single most important number is gross margin: a drop from last quarter's level could be read as steel-cost pressure.

Consensus for the July 29 print is $2.44 in earnings per share (EPS) on $1.11B revenue, versus $2.27 reported last quarter. Management's full-year guide is 20-23% sales growth and $9.15-$9.45 adjusted EPS; consensus full-year EPS of $9.35 sits inside that range, while consensus revenue of $4.31B is below the level implied by 20-23% growth off the roughly $3.9B segment base. The signals suggest Woodward could beat again — seven straight quarters of beats, GE Vernova raising guidance, and Power Generation growing high-teens. The question is whether management raises the full-year guide again or holds. The single number to watch is Power Generation organic growth: if it stays in the high teens, the AI-power demand signal stays intact; if it slows, the multiple could compress.

Consensus expects $0.75 EPS (earnings per share) on $1.89B revenue. Management guided Q2 revenue to $1.83B–$1.93B and billings to $2.09B–$2.19B, with the billings midpoint implying +20% year-over-year growth. The ecosystem signals and the 7-of-7 beat record suggest FTNT could beat again. The specific question is whether management raises the full-year billings guide a second time, after moving it from $8.4B–$8.6B to $8.8B–$9.1B, and whether gross margin holds near 81%. Watch product revenue growth: it was +41% last quarter; a sharp deceleration could make the AI-hardware story look less durable.

Consensus for Q2 is $2.62 EPS on $996 million revenue, after Q1 EPS of $2.99 on $1.0 billion revenue. Management raised full-year 2026 guidance to about 12% organic revenue growth, 8% to 11% T&D operating margin, and 6% to 9% C&I operating margin. The signals from Xcel and EMCOR suggest the quarter could beat. The specific question is whether management holds or raises those full-year ranges and whether new large transmission awards show up in backlog. The one number to watch is total backlog; if it does not move above $2.84 billion, the second-half transmission ramp story has less evidence.

Consensus expects $2.23 in non-GAAP EPS on $9.69B revenue. Management guided revenue to $9.2B-$10.0B and EPS to $2.10-$2.30, so consensus sits just above the midpoint of both ranges. The ecosystem signals and management commitments suggest QCOM could land near or slightly above the midpoint. The specific question is whether management confirms the China Android handset bottom and keeps automotive growth near 50% YoY. Watch QCT handset revenue: management guided roughly $4.9B, down from $6.0B last quarter. Below $4.9B would suggest the bottom is still ahead and could weigh on the full-year story.

Consensus for Q2 is $0.86 earnings per share (EPS) and $1.16B revenue. Management guided Q2 sales down low-to-mid single digits year-over-year, said earnings should be similar to Q1's $0.85, and reaffirmed full-year adjusted EPS of $4.00-$4.20 with about 100 basis points (one percentage point) of operating-margin expansion. The signals — 13 straight quarters of gross-margin expansion, aftermarket bookings above $600M for an eighth straight quarter, and three competitors beating estimates — suggest Flowserve could deliver the margin side of the story. The specific question is whether management keeps the full-year bookings-growth promise alive. Watch Q2 bookings: Q1 bookings were down 6% y/y, so another decline would put that promise at risk.

Consensus for Q2 is -$0.04 EPS (earnings per share) on $449M revenue; management guided to approximately $450M revenue and about $70M of L&S revenue, with no EPS guide in the source. UIS has beaten EPS estimates 6 of the last 7 quarters, and Q1 signings were strong, so the signals suggest it could at least meet the revenue guide. The open question is whether management holds its full-year promises: 9%-11% non-GAAP operating margin, L&S at $415M, and pre-pension free cash flow of +$72M. The one number to watch is L&S revenue: below $70M would put the high-margin annuity and that $415M target under pressure.

Consensus is $0.61 EPS on $240M revenue; management guided to $240M ±$5M revenue, 49.5% ±150bps gross margin, and $0.61 ±$0.04 EPS. Consensus sits exactly at the midpoint, so there is little cushion. The ecosystem signals suggest they could beat or meet, but the layer's pattern means that might not be enough. The question is whether management raises the full-year trajectory or keeps the $20M GPU and CPO targets intact. The one number to watch is whether Q2 DRAM/HBM revenue sets another record — if it does not, the AI growth story weakens.

Consensus for this print is $1.69 EPS on $6.66B revenue, about 15% and 14% above last quarter's actuals. The source does not show management's explicit quarterly guide, so the gap to consensus cannot be measured. The ecosystem signals and the $2.22B deferred-revenue base suggest LRCX could beat again, but the drop in customer down payments and the high multiple make that less certain. The specific question is whether management raises the full-year WFE forecast above $140B or the advanced-packaging growth target above 50%. The single number to watch is customer down payments: if they fall again, it could signal order timing softening even if the headline quarter is strong.

Consensus expects $0.41 EPS (earnings per share) on $1.90B revenue. Management guided EPS of $0.38 to $0.42 and revenue of $1.86B to $1.93B, so consensus sits inside the range near the midpoint. Q1 same-store adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization, excluding one-time and inventory effects) beat its own guide, and management called orders the strongest since 2022 — that suggests RYZ could beat, but LIFO (last-in, first-out inventory costing) ran above plan and leverage (debt-to-EBITDA) is 5.1x. The specific question is whether management holds or raises the Q2 adjusted EBITDA and tonnage guide, and whether it puts any number on AI. Watch adjusted EBITDA ex-LIFO: the Q2 guide is $88M to $92M; below $88M could undermine the synergy and deleveraging story, while $92M or above could support it.

Consensus expects $2.13 EPS on $403M revenue. Management guided Q2 revenue to $393-411M (midpoint $402M), gross margin to 48.5-49.5%, and operating margin to 21-22%. The signals suggest they could beat again — they have beaten 6 of the last 7 quarters, and Q1 came in above the top of its own guide. The question is whether management keeps the sequential-growth promise with a Q3 revenue guide above Q2's reported result. The single most important number is the Q3 revenue guide; a guide that doesn't show sequential growth would break an explicit promise and could hurt the stock even after a Q2 beat.

Consensus expects $0.40 EPS on $1.26B revenue for Q1 FY2027. Management guided $1.26B plus or minus $50M, with royalty and license revenue both up roughly 20% year over year. Ecosystem signals and the AGI CPU pipeline suggest Arm could meet or slightly beat the revenue guide, but the stock's valuation means even a clean beat can sell off. The specific question is whether management reaffirms the full-year royalty growth target of roughly 20% and repeats the AGI CPU $15B by FYE31 target. The one number to watch is data-center royalty growth — it 'more than doubled' in FY2026, and if it does not show another doubling trajectory, the AI narrative loses some force.

Consensus is $4.24 EPS on $87.62B revenue for Q4 FY26, while management guided revenue to $86.7B–$87.8B, so consensus sits slightly above the midpoint but inside the range. Ecosystem reports, RPO growth, and the capacity-constrained tone suggest Microsoft could beat, but component costs and the consumer segment are the swing factors. The specific question is whether management keeps the promise of Azure growth accelerating in the second half of calendar 2026; the one number to watch is Azure constant-currency growth — 39% in Q3, guided 39–40% for Q4. A print below 39%, or a softer Q1 FY27 Azure guide, could undercut the acceleration story even if total revenue beats.

Consensus for Q2 is $7.19 EPS on $60.22B revenue. Management has not given a quarterly revenue guide in this source; it has guided FY2026 expenses to $162–169B and CapEx to $125–145B. With seven straight beats, a beat-raise ecosystem, and no material news since last earnings, the signals suggest META could beat consensus. The specific question is whether management keeps the FY expense and CapEx ranges while showing FoA ad growth still near +33%. Watch FoA ad revenue growth: it was +33% last quarter; a sharp deceleration would raise doubts about the AI-driven ad acceleration story.

Consensus for this call is $2.13 EPS on $1.23B revenue, versus $2.05 EPS and $1.164B last quarter. Management hasn't given a single revenue or EPS number in the source material; the segment guides imply A&D up mid-single digits, healthcare flat, and industrial up low double digits. With record wins, a rising funnel, and an ecosystem that beat and raised, the signals suggest PLXS could beat. The specific question is whether management raises the full-year 'mid-teens or greater' revenue guide again. The number to watch is the qualified funnel: it grew 11% sequentially to $4.0B; a stall or drop there could make another raise look less likely.

Consensus sits at $0.69 EPS on $720M revenue, inside management's $0.65-0.71 EPS and $700-740M revenue ranges. Signals from EMS competitors suggest BHE could land in the upper half or beat, but the layer's -1.7% average reaction means a beat alone is no guarantee of a positive move. The specific question is whether management repeats the FY26 9-10% revenue-growth guide and the Semi-Cap mid-teens promise. Watch AC&C growth: it was +41% last quarter; a slowdown in that pace would challenge the AI slice behind the stock's higher multiple.

Consensus is $0.42 EPS on $366M revenue; management guided Q2 revenue to $364–366M and non-GAAP operating margin of 17.5–18.5%. The company has beaten 5 of the last 7 quarters and raised its full-year guides last quarter. The signals suggest Procore could beat the revenue midpoint if cRPO growth holds, but the more important question is whether management offers anything concrete on Procore AI adoption ahead of Q3 sales-force enablement. The one number to watch is cRPO growth — last quarter's +21% was helped by longer contract durations, so a step-down toward the high-teens could mean forward revenue visibility is softening.

Consensus expects $0.42 EPS on $377M revenue for the quarter; the trailing-twelve-month revenue base is $1.64B. Management has not given a quarterly guide; its FY2026 EPS guide is $3.68-$3.83. Consensus for FY2027 is about $3.97, above the top of that FY2026 range but for a different year. With 4 beats in the last 7 quarters, the signals suggest NWE could meet or modestly beat the quarterly EPS number. The bigger question is whether management shows progress on the large-new-load tariff or signs an ESA — without that, AI remains a stub. The number to watch is the Colstrip cost offset: Q1 had about $12M of incremental quarterly cost but only ~$8M offset; a wider gap could pressure EPS even if revenue lands in line.

Consensus for Q2 is $0.93 adjusted EPS on $970M revenue, up from $0.86 on $935M in Q1, but the source has no explicit Q2 company guide; management's open full-year targets are at least 20bps of adjusted operating margin expansion, high-80s FCF conversion, and automotive outgrowth. With reported beats in five straight quarters (or five of the last seven, depending on the source), all three segments growing in Q1, a record Q1 FCF print, and competitors beating, signals suggest ST could beat again. The question is whether management provides the data-center TAM detail promised for this call and holds the margin/FCF targets; one number to watch is adjusted operating margin, which came in at 18.6% in Q1, up 30bps y/y, because if the H2 path doesn't support the at-least-20bps full-year target, the acceleration story weakens.

Consensus is $2.34 EPS on $206M revenue for Q2; management guided sales to $195M-$215M and gross margin to 38%-40%, with the revenue midpoint at $205M. Full-year consensus is $8.62 EPS on $787.4M revenue, roughly 12% above the TTM run-rate. The Q1 beat, the 6-of-7 beat record, and robust book-to-bill suggest Bel could land at or above the midpoint. The key question is whether gross margin holds at 38% or better while metal and tariff costs are listed as risks. The one number to watch is gross margin: Q1 came in at 39.0%, the top of its old range; a print below the 38% low end would signal cost pressure and could hurt the stock even if revenue beats.

Consensus is $0.02 EPS on $419M revenue, compared with $339M in oil and gas sales last quarter. Management's explicit guide is production up 13–15% in Q2; no production consensus is published in the source material. If production lands in that range, revenue could meet or beat the $419M estimate. The specific question is whether management confirms the gas-supply agreement is advancing and keeps leverage near 2.9x. Watch actual Q2 production growth: below the 13–15% promise could put the revenue estimate at risk.

Consensus is $0.40 adjusted EPS on $1.08B revenue. Management guided Q3 to $1.05B–$1.10B revenue and $0.38–$0.41 EPS, so consensus sits at the midpoint. With six of the last seven quarters beaten and backlog at a record, signals suggest TTEK could beat again. The question is whether CIG margin starts recovering and whether management can hold or raise the full-year guide. The one number to watch is CIG margin: it was 12.2% last quarter, seasonally weak; a repeat could pressure the full-year EPS path.

Consensus is $2.41 EPS on $193M revenue. Management has not provided guidance, so there is no guide to compare. The signals suggest PLPC could beat, given two straight beats and a networking layer where all reported names beat EPS; but the layer also shows stocks selling off after beats. The one number to watch is revenue versus $193M; the question going in is whether it can come in roughly 11% above the TTM average-quarter run rate of about $174M. If revenue or EPS falls short, the high multiple could compress; if management adds any color on EMEA expansion or the Brazil acquisition, that could matter more than the beat.

Consensus is $1.30 EPS on $879M revenue for the July 29 fiscal Q1 report; management has not given a Q1 revenue guide, and the explicit full-year guide is data center segment growth of 60-80%. Full-year consensus is $7.81 EPS and $4.06B revenue, about 28% above trailing revenue. The ecosystem signal and record order book suggest Modine could beat, but the cooling layer has punished beats, so a good print might not lift the stock. The key questions are whether management keeps the 60-80% target, whether the new Data Centers segment recast is clean, and whether margins hold. The number to watch is the implied Q1 data center growth pace — if it is below the path to 60%, the full-year guide could be at risk.

Consensus expects $1.57 EPS on $612M revenue; management guided full-year revenue to $2.580–$2.820B and non-GAAP EPS to $6.65–$8.90, with consensus at $8.04 EPS and $2,726M revenue. The ecosystem and PTC's 7-of-7 beat streak suggest they could beat again, but the real question is whether management raises the full-year guide and keeps operating margin near the 53% level. The number to watch is constant-currency ARR growth excluding divested businesses: it came in at 8.5% last quarter, and if it slips below that pace, the stock could struggle despite an EPS beat.

Consensus for the quarter is $1.47 EPS on $237M revenue. Management does not give a quarterly revenue guide; the full-year revenue guide is $945-995M and consensus is inside it. With TRS rental revenue up 13% for two quarters, utilization at a Q1 high, and capex stepped up sharply, the signals suggest they could beat. The specific question is whether management raises or reaffirms full-year guidance, and whether TRS rental growth stays at or above 13%. The one number to watch is TRS rental revenue growth — a drop to single digits could weaken the data-center narrative, while another 13% or better print would reinforce it.

Consensus for Q2 is $4.73 EPS on $2.59B revenue. The source does not give an explicit Q2 revenue or EPS guide; the opening full-year guide was 9–10% revenue growth and 8–10% AFFO-per-share growth, with later language pointing to 10–11% revenue growth. Equinix has beaten 5 of the last 7 quarters, and the demand signals suggest they could beat again. The question going into the call is whether management raises the full-year revenue range, keeps the pre-sales pipeline near the $140M pace, and confirms the Hampton xScale lease under expanded terms. The single most important number is pre-sales: $140M in Q1 versus $60M in Q4, and a sharp drop would raise doubt about the AI-driven pipeline.