US-listed earnings calls, Nov 4–5, 2026: Airbnb, Natera, Cardinal Health raise outlooks

Several companies raised their full-year outlooks

• Airbnb: the chief financial officer said expected revenue growth for fiscal year 2026 was raised to the high teens, from at least mid-teens last quarter. The chief financial officer said Airbnb expects an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin of approximately 36%, up from at least 35.5%. Airbnb expects fourth-quarter revenue of $3.22 billion to $3.28 billion.
• Natera: the chief financial officer said fiscal year 2026 revenue guidance was raised to $3.005 billion-$3.035 billion from $2.85 billion-$2.91 billion.
• Cardinal Health: the chief financial officer said it raised its fiscal year 2027 non-GAAP (not based on generally accepted accounting principles) diluted EPS (earnings per share) guidance to $12.80-$13.00 from $12.40-$12.60.
• TC Energy: the chief financial officer said it raised its fiscal year 2026 comparable EBITDA outlook to $11.8 billion-$12 billion, $200 million above its previous range.
• Simon Property Group: the chief financial officer said it raised its fiscal year 2026 real estate FFO (funds from operations, an earnings measure used by real estate companies) guidance to $13.30–$13.40 per share.

Cloudflare and Targa Resources set out profit and growth expectations

• Cloudflare: the chief financial officer said it expects GAAP (generally accepted accounting principles) profitability in the fourth quarter of 2026, earlier than its Investor Day outlook of no later than 2028. It expects fourth-quarter revenue of $845 million–$846 million, representing 38% year-over-year growth.
• Targa Resources: the chief financial officer said it expects fiscal year 2026 adjusted EBITDA of at least $6 billion, more than 21% above fiscal year 2025. The company plans to request board approval for a 20% dividend increase for 2027.

Cummins lowered parts of its outlook while others gave mixed updates

• Cummins: the chief executive said it updated its fiscal year 2026 outlook to approximately 10% revenue growth, versus a prior range of 10%-13%. It lowered its North America medium-duty truck market forecast to 125,000-130,000 units from 130,000-140,000 units.
• Sempra: the chief financial officer said it guides to the high end of its fiscal year 2026 adjusted EPS range of $4.80 to $5.30 per share. Pending regulatory outcomes could place fiscal year 2027 results in the lower half of the $5.10 to $5.70 range.
• Monster Beverage: the chief executive said net sales exceeded $2.5 billion in the third quarter of fiscal year 2026.
• Atlassian: the chief financial officer said cloud revenue growth sustained above 30% year over year in the first quarter of fiscal year 2027.