guidance raised
What Executives Are Saying
“Our year-to-date outperformance illustrates the strength of Assurant with earnings growth contributions from Global Housing and across Connected Living and Global Automotive within Global Lifestyle.”
“We are increasing our 2025 outlook and now expect Adjusted earnings per share to increase low double-digits and Adjusted EBITDA growth to approach 10%, both excluding reportable catastrophes.”
“This, coupled with strong cash flow generation, supports our plan to repurchase $300 million of shares for the full year – at the top of our expected range.”
“Allegion's third-quarter performance was defined by strong execution producing solid results. With enterprise double-digit revenue growth led by our Americas non-residential business and accretive capital deployment, we're raising our outlook for reported full-year 2025 revenue and adjusted EPS.”
“As we finish out 2025, we remain agile and are steadily delivering on our commitments to customers and shareholders.”
“We achieved three years of consecutive quarterly sales growth, delivering record third quarter net sales, with 7% growth to last year.”
Companies in This Theme
CVS Health is projecting mid-teens adjusted EPS CAGR through 2028, raised 2025 guidance across all metrics, and initiated 2026 guidance showing continued earnings acceleration. Aetna margin recovery and pharmacy-as-front-door strategy are the key drivers.
Meta's ad revenue machine is accelerating — 26% YoY growth at $51B scale. Ad impressions up 14% and price per ad up 10%, meaning both volume and pricing power are expanding. They're guiding Q4 to $56-59B and signaling 2026 capex growth will be 'notably larger' than 2025's $70-72B.
JNJ is firing on both cylinders. Innovative Medicine grew 5.3% operationally with blockbuster oncology and immunology franchises offsetting STELARA biosimilar erosion. MedTech grew 5.6% operationally driven by electrophysiology and cardiovascular. They raised full-year sales guidance from $93.4B to $93.7B midpoint.
Broadcom is the picks-and-shovels winner of the AI infrastructure buildout. AI semiconductor revenue grew 74% YoY and is guided to double YoY next quarter to $8.2B. Infrastructure software (VMware) integration is delivering 19% growth with expanding margins.
KEYTRUDA franchise keeps powering ahead at 10% growth, and WINREVAIR's 141% ramp is validating the cardiovascular expansion thesis. But GARDASIL's 24% decline in China is a structural headwind, not a blip. The $70B+ domestic manufacturing commitment signals long-term confidence but compresses near-term margins.
Assurant is firing on all cylinders. Double-digit EBITDA growth across both Global Lifestyle and Global Housing. Connected Living subscriber growth and mobile trade-in performance are accelerating, and lender-placed insurance is benefiting from voluntary insurance market pressure — meaning more homeowners are losing coverage and being forced into Assurant's products.
DuPont beat Q3 guidance and raised full-year earnings estimates. Electronics demand is surging on AI-driven semiconductor and interconnect ramps. Healthcare and water end-markets remain strong. Construction remains the one soft spot.
Xylem delivered 8% revenue growth with double-digit gains in two segments and 200bps of EBITDA margin expansion. Raised full-year guidance on both revenue and EPS. Resilient water infrastructure demand and simplification initiatives are compounding.
Cadence posted record backlog of $7B and raised full-year revenue guidance to ~14% growth. Hardware saw a record Q3 driven by AI and HPC customers. IP business accelerated with the Arm Artisan acquisition expanding the portfolio.
Cadence posted record backlog of $7B and raised full-year revenue guidance to ~14% growth. Broad-based strength across EDA, IP, and hardware segments driven by AI and HPC chip design demand. The Arm Artisan IP acquisition deepens their moat in physical design.
Hollister is crushing it with 16% growth, but Abercrombie brands are decelerating — down 2% with inventory being managed tightly. Tariffs are eating 210 basis points of operating margin this quarter, with ~$90M full-year tariff expense baked into guidance. Revenue growth is real but profitability is compressing — operating margin dropped from 14.8% to 12.0% YoY.
CrowdStrike is firing on all cylinders. Record net new ARR of $265M accelerating 73% YoY signals cybersecurity budgets are expanding, not contracting. The Falcon Flex consolidation model is driving multi-module adoption and platform lock-in across endpoint, cloud, identity, and SIEM.
Zoom is stabilizing with 4.4% growth and crushing it on profitability — 41% non-GAAP margins and 50% FCF margins. Enterprise is the growth engine at 6.1%, but Online remains sluggish at 2%. NRR at 98% means the installed base is still slightly contracting.
Allegion is firing on all cylinders: double-digit reported revenue growth, Americas non-residential leading the charge with mid-single-digit organic growth in both resi and non-resi, and they're raising full-year guidance on both revenue and EPS. Tariff costs of ~$40M are being fully offset through pricing actions — no margin squeeze.
CoStar is aggressively investing in Homes.com and integrating Domain and Matterport acquisitions. Net new bookings surged 92% YoY to $84M, and the dedicated Homes.com sales team hit its best quarter ever. Commercial information and marketplace businesses delivered a 47% profit margin, up 400 bps sequentially.
Axon is on a seven-quarter streak of 30%+ growth with ARR accelerating to 41% YoY. Software & Services now 43% of revenue with 124% net revenue retention. Public safety budgets are flowing and enterprise expansion into retail, healthcare, and logistics is opening a second growth vector.
ATN is executing a slow grind from legacy telecom toward fiber and carrier services. Revenue growth is modest at 3% but Adjusted EBITDA grew 9% on cost discipline. The U.S. segment is turning the corner after a brutal prior year, but international mobility is flat.
Under Armour is expanding its restructuring plan to $255M in charges, separating Curry Brand, and cutting deeper. They raised adjusted operating income guidance to $95-110M but GAAP operating loss widened to $56-71M. This is a company in full transformation mode — not growth mode.
Atmos Energy is in full capital deployment mode — $3.6B in capex this year, jumping to $4.2B next year, with 87% focused on safety and reliability infrastructure. Regulatory outcomes are flowing through at $333.6M annualized. A 14.9% dividend increase signals deep confidence in the rate base growth model.
IBM is firing on all cylinders with 7% revenue growth — highest in years — driven by z17 mainframe strength, accelerating AI book of business at $9.5B inception-to-date, and $4.5B in AI-powered productivity savings. All segments accelerated sequentially. Guidance raised across revenue, EBITDA, and free cash flow.
Competitor Mentions Across This Theme
| Competitor | Mentions | By | Sentiment |
|---|---|---|---|
| Red Hat | 5 | 1 company | BULLISH |
| AWS | 4 | 1 company | BULLISH |
| LaNova Medicines | 4 | 1 company | NEUTRAL |
| NVIDIA | 3 | 1 company | BULLISH |
| HashiCorp | 3 | 1 company | BULLISH |
| AstraZeneca | 3 | 1 company | NEUTRAL |
| Daiichi Sankyo | 3 | 1 company | BULLISH |
| Verona Pharma | 3 | 1 company | BULLISH |
Operator Implications
If you're building health tech or digital health engagement tools, CVS is investing heavily in an open consumer engagement platform — that's either a distribution partner or a well-funded competitor coming for your market.
If you're building on Meta's ad platform or selling AI infrastructure, the spend flywheel is accelerating hard. But if you're competing for AI talent, Meta is hiring aggressively and will drive up compensation benchmarks further.
If you're building in healthcare or selling into hospital systems, JNJ's accelerating MedTech spend — especially in electrophysiology, AI-powered surgical tools like VIRTUGUIDE, and cardiovascular devices — signals strong institutional budgets and appetite for innovation in surgical workflows.
If you're building anything that touches data center infrastructure — networking, orchestration, security — Broadcom's dominance in custom AI accelerators and Ethernet switching means their ecosystem is the one to build on or integrate with. Their hyperscaler customer concentration is a feature, not a bug: follow the capex.
If you're selling into pharma or hospital systems, KEYTRUDA subcutaneous approval (one-minute administration) is about to reshape infusion center economics — watch for procurement cycle changes in oncology clinics.
If you're building in the device protection, home warranty, or embedded insurance space, Assurant's expanding reach through OEM and carrier partnerships is raising the competitive bar. Their new financial services program signals they're moving beyond protection into adjacent verticals — expect them in more RFPs.
If you sell into semiconductor fabs or advanced packaging supply chains, DuPont's 10% organic electronics growth confirms the AI capex wave is hitting materials suppliers — budget cycles are expanding, not contracting.
If you're selling into water or municipal infrastructure, budget cycles are expanding not contracting — Xylem's organic growth acceleration and raised guidance signal that utilities and industrial buyers are spending through macro uncertainty.
If you're building AI hardware or custom silicon, Cadence's record backlog and AI/HPC-driven hardware expansion signal that chip design tooling demand is surging — budget cycles for EDA tools are expanding, not contracting.
If you're building custom silicon or AI accelerators, Cadence's expanding portfolio and AI-centric tools mean the design toolchain is getting richer — budget for deeper EDA spend but expect faster tapeout cycles.
If you're selling into retail or consumer discretionary, the bifurcation is the signal: value-oriented brands (Hollister) are thriving while premium positioning (Abercrombie) is softening. Tariff costs are being absorbed, not passed through — watch for margin pressure to intensify in Q4.
If you're building security tools, CrowdStrike's platform consolidation play is swallowing adjacent categories fast — cloud security, identity, SIEM. Either integrate with Falcon or find a niche they haven't reached yet. If you're a buyer, Falcon Flex pricing creates real consolidation leverage worth evaluating.
If you're building in the collaboration or contact center space, Zoom's AI Companion push signals they're bundling AI features into existing seats — not charging separately. That compresses standalone AI tool pricing in this category. Compete on workflow depth, not AI features.
If you're selling into commercial construction or building security, buyer budgets are healthy and pricing power is holding. This is a green light to push enterprise deals — procurement isn't squeezing vendors in this category right now.
If you're building in proptech or adjacent to real estate marketplaces, CoStar is flooding the zone with capital and AI-powered search. Their Homes.com network at 115M monthly uniques makes them a platform you either integrate with or get steamrolled by.
If you're building for public safety or enterprise physical security, Axon is consolidating the stack fast — from body cams to 911 dispatch to drones. Either integrate into their ecosystem or prepare to compete against a $2.7B-revenue platform with $11.4B in contracted backlog.
If you're building in rural connectivity or carrier-managed services, ATN's expansion signals growing demand in underserved markets — but the pace is methodical, not explosive. Budget cycles here are long.
If you're selling into athletic or lifestyle brands, expect procurement freezes and vendor consolidation as UA rationalizes contracts and headcount through FY2026.
If you sell into utility infrastructure modernization — pipeline inspection, smart metering, safety tech — Atmos is spending aggressively and accelerating. Their $4.2B capex target for FY2026 means procurement cycles are active now.
If you sell into enterprise IT, IBM's clients are spending — especially on AI transformation and infrastructure modernization. The z17 cycle and AI consulting demand signal real budget allocation, not just pilots. Position your product as part of the AI deployment stack, not a net-new budget line.