US earnings calls, October 28–30, 2026: Vertiv, Quanta and Howmet raise 2026 guidance

Amazon and Intel expect capital spending to rise in 2027

• Amazon: The chief executive said Amazon expects approximately $220 billion of cash capital expenditures (CapEx), money spent on long-lived assets, in 2026. Most of it is for Amazon Web Services (AWS), and Amazon expects meaningfully more in 2027. The chief executive said demand for AWS capacity remains exceptionally strong. Amazon believes AWS revenue will grow more than 40% in both 2027 and 2028.
• Intel: The chief financial officer said Intel expects calendar year 2026 gross capital expenditures to remain on track at $20 billion. Intel expects calendar year 2027 gross capital spending to increase strongly. The chief executive said Intel expects significant server central processing unit (CPU) demand in fiscal year 2027.

Several companies raised their outlooks for fiscal year 2026

• Vertiv said it raised its fiscal year 2026 net sales guidance to $14.65 billion at the midpoint, $650 million above prior guidance. It raised adjusted diluted earnings per share (EPS) guidance to $7.15, up 70% from 2025.
• Quanta Services said it raised its fiscal year 2026 revenue outlook to $41.3 billion-$41.6 billion. It expects strong double-digit adjusted EPS growth in fiscal year 2027.
• Howmet Aerospace said it increased fiscal year 2026 revenue guidance to $10.3 billion ±$10 million. Its initial 2027 outlook is for approximately 12% revenue growth.
• Gilead Sciences said it raised fiscal year 2026 base business sales guidance to $30.7 billion–$31 billion.

Intel and Stryker described softer areas

• Intel: The chief financial officer said memory-shortage pressure on personal computer (PC) purchasing intensified during the third quarter of fiscal year 2026. The chief executive said Intel expects the PC market to be challenging over the next few quarters.
• Stryker: The chief financial officer said Stryker revised its end-market growth view down from about 6% a year ago to a little below that now, partly because of softness in hip and knee joint replacement.

Other companies reported results and targets

• Sandisk said its revenue of $11 billion in the first quarter of fiscal year 2027 exceeded its guidance range of $10.3 billion-$10.8 billion.
• Starbucks said it expects a fiscal year 2027 consolidated operating margin of 13.5%-14%.
• bp said its net debt is $13.9 billion, below the target range.
• Enterprise Products Partners said its pipeline system moved a record 14.8 million barrels per day equivalent in the third quarter of fiscal year 2026.