US-listed company earnings calls, October 21-27, 2026: Novartis raises profit guidance

Novartis and Freeport-McMoRan changed their outlooks in opposite directions

• Novartis: The chief financial officer said fiscal year 2026 core operating income guidance was raised from a low-single-digit decline to in line with or growing at a low-double-digit rate. Net sales guidance for fiscal year 2026 remains at low-single-digit growth. The chief executive said Novartis upgraded Rhapsido's combined peak sales guidance to over $4 billion. The chief executive also said the company reaffirmed constant-currency sales growth guidance of 5%-6% for 2025-2030.
• Freeport-McMoRan: The chief financial officer said the company reduced its copper sales estimates by about 2% for fiscal year 2026 and approximately 2.5% for fiscal year 2027. The chief executive said the cut accounts for shortfalls in the U.S. and Chile. The chief financial officer said the company estimates capital expenditure of approximately $4.4 billion in fiscal year 2026 and $5.2 billion in fiscal year 2027. Net unit cash cost guidance stays at $1.90 per pound.

HSBC kept its 2026 guidance unchanged

The chief financial officer of HSBC reiterated the banking net interest income (NII) guidance. NII is what a bank earns on loans minus what it pays on deposits. The bank also kept its credit guidance at around 45 basis points of loans and advances. It said it is on track for around 1% cost growth in fiscal year 2026. The chief financial officer said HSBC is confident in its target of revenue growth rising to 5% by fiscal year 2028.

Several other companies raised their full-year outlooks

• RingCentral: The chief financial officer said the company raised its fiscal year 2026 total revenue outlook to $2.650 billion-$2.657 billion.
• First Industrial Realty Trust: The chief financial officer said fiscal year 2026 funds from operations (FFO) guidance was raised to $3.11-$3.15 per share. FFO is a profit measure used by real estate trusts.
• Applied Industrial Technologies: The chief financial officer said fiscal 2027 earnings per share guidance was raised to $11.70–$12.20 from $11.65–$12.15.
• Pool Corporation: The chief financial officer said the company now expects fiscal year 2026 top-line growth of 3%–4%, slightly better than its prior outlook.

Housing and travel companies remained cautious

• Simpson Manufacturing: The chief executive said the company expects U.S. housing starts in 2026 to decline by a low single-digit percentage.
• First American Financial: The chief financial officer said total revenue in fiscal year 2027 is expected to be essentially flat.
• Grupo Aeroportuario del Sureste: The chief executive said total passenger traffic decreased 1.2% to 20.9 million in the third quarter of fiscal year 2026.