Coca-Cola, Centene and UPS Lead a Wave of Earnings Beats on October 27 as Boeing Posts Wider-Than-Expected Loss

A heavy slate of third-quarter 2026 earnings on Tuesday produced broad beats and raised full-year outlooks across consumer, industrial and financial sectors, with Coca-Cola, Centene, UPS and Royal Caribbean among the standout performers. Coca-Cola reported net revenue of $13.4 billion, up 7% year over year and well ahead of the $12.92 billion consensus, while adjusted EPS of $0.91 beat estimates of $0.88. Global unit case volume grew 5% against an estimate of roughly 3%, and organic revenue rose 7%. The company lifted its full-year comparable EPS growth target to at least 11%, up from a prior range of 9% to 10%, and raised its free cash flow forecast to at least $13 billion.

Centene delivered the session's most dramatic earnings surprise, posting adjusted EPS of $0.58 against a consensus of roughly $0.10 and revenue of $50.65 billion against estimates of $47.12 billion. The managed-care insurer raised its full-year adjusted EPS guidance to greater than $5.20, up from greater than $4.80, and widened its revenue outlook to $196.5 billion to $200.5 billion. Medicare revenue grew 20% year over year to $11.3 billion, while the health benefits ratio held flat at 92.7%. The company also reduced debt by $1.1 billion since June 30, including a full redemption of its 2027 senior notes in October.

UPS reported third-quarter revenue of $22.9 billion, up 6.7% year over year and ahead of the $22.29 billion estimate, with adjusted EPS of $1.69 topping the $1.63 consensus. Supply chain solutions revenue surged 18.2% to $3 billion. The company raised its full-year revenue outlook to approximately $92.6 billion from $91.2 billion and lifted adjusted EPS guidance to approximately $7.28. GAAP results included a $279 million net charge comprising a $182 million goodwill impairment and transformation costs.

Royal Caribbean posted adjusted EPS of $6.57, up 14% year over year and ahead of the $6.38 estimate, on revenue of $5.6 billion with a load factor of 112% across 2.7 million guests. The company raised full-year adjusted EPS guidance to $17.85 to $17.95 and announced an agreement to acquire an interest in Sandals and Beaches resorts, expanding into all-inclusive properties. Fourth-quarter adjusted EPS guidance of $3.48 to $3.58 came in below the $3.65 consensus.

Corning was among the session's biggest industrial winners, reporting revenue of $5.08 billion, up 19% year over year, with adjusted EPS of $0.91 beating estimates by $0.03. Optical communications revenue jumped 44% to $2.4 billion, and the company secured four long-term multibillion-dollar agreements with customers including Verizon and AT&T. Shares rose in premarket trading. Celestica posted even sharper top-line growth, with revenue of $5.83 billion rising 83% year over year and adjusted EPS of $3.30 beating estimates by $0.34, sending the stock up more than 16% before the open.

S&P Global beat estimates with adjusted EPS of $4.58 against a $4.43 consensus on revenue of $3.68 billion, up 7% year over year. The company raised full-year adjusted EPS guidance to $17.70 to $17.95 and confirmed a strategic review of its Capital IQ and associated data businesses. SoFi Technologies reported revenue of $1.4 billion, up 44% year over year, with adjusted EBITDA of $469.8 million rising 70% and membership reaching 17.1 million. The fintech raised full-year adjusted revenue guidance to approximately $5.04 billion and issued 2027 adjusted revenue guidance of approximately $6.4 billion.

HCA Healthcare topped estimates with revenue of $19.85 billion against the $19.33 billion consensus and EPS of $7.27 versus $6.66 expected, though it flagged approximately $400 million in unfavorable pretax impact from increased uninsured volume tied to federal policy changes. Johnson Controls reported fiscal fourth-quarter adjusted EPS of $1.66 on revenue of $7.1 billion, with organic sales growth of 12% well above the 9.4% estimate. CenterPoint Energy beat with adjusted EPS of $0.53 against a $0.49 estimate, raised its capital plan to $70.7 billion from $66.7 billion, and set a long-term EPS growth target of 7% to 9% annually through 2030.

PayPal beat on the bottom line with adjusted EPS of $1.45 against a $1.31 estimate but missed revenue at $8.58 billion versus $8.71 billion expected, and total payment volume of $487.1 billion fell short of the $490.65 billion consensus. The company raised full-year adjusted EPS guidance to approximately $5.60 from $5.38.

Boeing was the session's most prominent disappointment. The aerospace giant reported revenue of $24.19 billion, modestly ahead of the $23.85 billion estimate, but its core adjusted loss per share widened to $0.34 against a consensus loss of $0.21. The commercial airplanes segment posted an operating loss of $697 million on a margin of negative 6.5%, while operating cash flow of $1.5 billion exceeded estimates. Total backlog reached a record $745 billion, and the 737-7 and 737-10 received amended FAA type certifications. Hilton also faced a mixed reception: adjusted EPS of $2.45 beat the $2.36 estimate, but revenue of $3.33 billion missed by roughly $40 million and shares fell more than 2%. System-wide comparable RevPAR rose 5.8% on a currency-neutral basis, net income climbed 27% to $536 million, and the company announced it will transfer its listing to Nasdaq effective November 5, 2026.