Key Takeaways
- CVS Health (CVS) reported strong Q3 adjusted EPS and revenue beats, but took a significant $5.7 billion goodwill impairment charge on its health care delivery unit, leading to a revised full-year loss per share outlook.
- Caterpillar (CAT) exceeded Q3 expectations with adjusted EPS of $4.95 and revenue of $17.64 billion, both significantly above analyst estimates.
- Verizon (VZ) beat adjusted EPS estimates at $1.21 and maintained its full-year guidance, despite a slight miss on operating revenue and losing 7,000 consumer wireless postpaid phone subscribers.
- Cognizant (CTSH) reported Q3 revenue of $5.415 billion and adjusted EPS of $1.39, both surpassing estimates, and provided an optimistic full-year revenue outlook.
Major companies across various sectors have released their third-quarter 2025 earnings reports, revealing a mixed but generally positive financial landscape, though some firms faced significant one-time charges.
CVS Health (CVS) announced Q3 adjusted earnings per share (EPS) of $1.60, significantly surpassing the estimated $1.36. Revenue also came in strong at $102.87 billion, beating the $98.89 billion estimate. However, the company reported a substantial $5.7 billion goodwill impairment charge related to its struggling health care delivery unit. This charge led to a revised full-year outlook, with the company now seeing a loss per share of 24 cents to 34 cents, a stark contrast to its prior EPS view of $3.84 to $3.94. Despite this, CVS raised its full-year adjusted EPS guidance to $6.55 to $6.65, up from the previous $6.30 to $6.40.
Caterpillar (CAT) delivered robust Q3 2025 results, with adjusted EPS reaching $4.95, well above the analyst estimate of $4.51. The heavy equipment manufacturer's revenue for the quarter was $17.64 billion, also exceeding the $16.71 billion estimate. Adjusted operating income stood at $3.09 billion, significantly higher than the estimated $2.74 billion. Machinery, Energy & Transportation revenue contributed $16.73 billion, while Financial Products revenue was $912 million.
Telecommunications giant Verizon (VZ) reported Q3 2025 adjusted EPS of $1.21, slightly above the estimated $1.19. Operating revenue, however, came in at $33.8 billion, just shy of the $34.25 billion estimate. Adjusted EBITDA was $12.8 billion, slightly exceeding the $12.76 billion estimate. The company maintained its full-year guidance, still projecting wireless service revenue growth of +2% to +2.8% and adjusted EPS growth of +1% to +3%. Despite these positive indicators, Verizon reported a loss of 7,000 consumer wireless postpaid phone subscribers, though it added 110,000 business wireless retail postpaid net additions.
In the IT services sector, Cognizant (CTSH) announced strong Q3 results, with revenue of $5.415 billion, surpassing the $5.312 billion estimate. The company's adjusted EPS reached $1.39, beating the $1.30 estimate. Cognizant reported an adjusted operating margin of 16%. Looking ahead, the company provided an optimistic full-year revenue outlook, projecting between $21.05 billion and $21.10 billion.
Packaging solutions provider Smurfit Westrock PLC reported Q3 pretax profit of $336 million and net sales of $8,003 million. The company's net income for the quarter was $245 million, with basic and diluted EPS both at $0.47. Gross profit stood at $1,569 million, and operating income was $526 million. The company also provided an outlook for FY adjusted EBITDA, though the full figure was not immediately available.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.