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Nike and Carnival are part of Zacks Earnings Preview
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For Immediate Release
Chicago, IL – September 29, 2025 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nike (NKE - Free Report) and Carnival (CCL - Free Report) .
Making Sense of Current Earnings Expectations
This week’s quarterly reports from Nike, Carnival and three other S&P 500 members for their respective fiscal quarters ending in August will get counted as part of our September-quarter tally. We have already seen such fiscal August-quarter results from 14 S&P 500 members, including results from Oracle, Adobe, FedEx, and others.
We will discuss current expectations for Nike and Carnival later in this note, but we will first review the aggregate Q3 expectations for the S&P 500 index as a whole.
The expectation is for Q3 earnings to increase by +5.3% from the same period last year on +6.1% higher revenues. This would follow earnings growth rates of +12.5% and +12.3% in 2025 Q2 and Q1, respectively.
In the unlikely event that actual Q3 earnings growth for the S&P 500 index turns out to be +5.3% as currently expected, this will be the lowest earnings growth pace for the index since the +4.4% growth rate in 2023 Q3.
Regular readers of our earnings commentary are familiar with us consistently flagging the favorable shift in the revisions trend that has been in place for the last few months. We have regularly featured how Q3 estimates moved higher after the start of the period, marking a shift from the trends observed in the first two quarters of the year.
The positive revisions trend has not been restricted to Q3 alone, as estimates for Q4 have also moved higher lately.
Since the start of July, Q4 estimates have increased for 7 of the 16 Zacks sectors, which include the Tech, Finance, and Energy sectors. Other sectors enjoying positive estimate revisions for Q4 include Retail, Utilities, Transportation, and Business Services.
While Q4 estimates for the remaining 11 sectors have been under pressure, the favorable revisions trend for the Tech and Finance sectors is more than enough to offset their effect on the aggregate trends at the index level, as these two sectors alone account for more than 50% of the index’s total earnings.
On the negative side, Q4 estimates remain under pressure for 8 of the 16 Zacks sectors, with the notable estimates pressure at the Consumer Discretionary, Medical, Autos, Industrial Products, and Construction sectors.
The Tech sector, which has been a standout growth driver in recent quarters, is expected to continue playing that role in the coming periods as well. For 2025 Q3, Tech sector earnings are expected to increase +12% on +12.7% higher revenues, with Q4 earnings currently expected to be up +8.7% on +11.4% revenue growth.
Key Earnings Reports This week
We have more than 20 companies scheduled to report results this week, including five S&P 500 members. In addition to Nike and Carnival, notable companies reporting this week include Paychex, AutoZone, ConAgra, and others. ghg
Nike is expected to report $0.28 per share in earnings on $11 billion in revenues, representing year-over-year changes of -60% and -5%, respectively. While estimates have been stable lately, sentiment on the stock remains weak given expectations of an elongated recovery. The stock has gained some ground since the last quarterly release in late June, but still remains -8.4% down this year. Nike reports after the market’s close on Tuesday, September 30th.
Carnival estimates have modestly moved up lately, with the cruise line operator expected to report $1.32 per share in earnings on $8.07 billion in revenues, representing year-over-year changes of +3.9% and+2.3%, respectively. Carnival shares have been standout performers lately, with the stock up +23.1% in the year-to-date period.
The Earnings Big Picture
In terms of S&P 500 index ‘EPS’, these growth rates approximate to $258.12 for 2025 and $290.98 for 2026.
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Nike and Carnival are part of Zacks Earnings Preview
For Immediate Release
Chicago, IL – September 29, 2025 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes Nike (NKE - Free Report) and Carnival (CCL - Free Report) .
Making Sense of Current Earnings Expectations
This week’s quarterly reports from Nike, Carnival and three other S&P 500 members for their respective fiscal quarters ending in August will get counted as part of our September-quarter tally. We have already seen such fiscal August-quarter results from 14 S&P 500 members, including results from Oracle, Adobe, FedEx, and others.
We will discuss current expectations for Nike and Carnival later in this note, but we will first review the aggregate Q3 expectations for the S&P 500 index as a whole.
The expectation is for Q3 earnings to increase by +5.3% from the same period last year on +6.1% higher revenues. This would follow earnings growth rates of +12.5% and +12.3% in 2025 Q2 and Q1, respectively.
In the unlikely event that actual Q3 earnings growth for the S&P 500 index turns out to be +5.3% as currently expected, this will be the lowest earnings growth pace for the index since the +4.4% growth rate in 2023 Q3.
Regular readers of our earnings commentary are familiar with us consistently flagging the favorable shift in the revisions trend that has been in place for the last few months. We have regularly featured how Q3 estimates moved higher after the start of the period, marking a shift from the trends observed in the first two quarters of the year.
The positive revisions trend has not been restricted to Q3 alone, as estimates for Q4 have also moved higher lately.
Since the start of July, Q4 estimates have increased for 7 of the 16 Zacks sectors, which include the Tech, Finance, and Energy sectors. Other sectors enjoying positive estimate revisions for Q4 include Retail, Utilities, Transportation, and Business Services.
While Q4 estimates for the remaining 11 sectors have been under pressure, the favorable revisions trend for the Tech and Finance sectors is more than enough to offset their effect on the aggregate trends at the index level, as these two sectors alone account for more than 50% of the index’s total earnings.
On the negative side, Q4 estimates remain under pressure for 8 of the 16 Zacks sectors, with the notable estimates pressure at the Consumer Discretionary, Medical, Autos, Industrial Products, and Construction sectors.
The Tech sector, which has been a standout growth driver in recent quarters, is expected to continue playing that role in the coming periods as well. For 2025 Q3, Tech sector earnings are expected to increase +12% on +12.7% higher revenues, with Q4 earnings currently expected to be up +8.7% on +11.4% revenue growth.
Key Earnings Reports This week
We have more than 20 companies scheduled to report results this week, including five S&P 500 members. In addition to Nike and Carnival, notable companies reporting this week include Paychex, AutoZone, ConAgra, and others. ghg
Nike is expected to report $0.28 per share in earnings on $11 billion in revenues, representing year-over-year changes of -60% and -5%, respectively. While estimates have been stable lately, sentiment on the stock remains weak given expectations of an elongated recovery. The stock has gained some ground since the last quarterly release in late June, but still remains -8.4% down this year. Nike reports after the market’s close on Tuesday, September 30th.
Carnival estimates have modestly moved up lately, with the cruise line operator expected to report $1.32 per share in earnings on $8.07 billion in revenues, representing year-over-year changes of +3.9% and+2.3%, respectively. Carnival shares have been standout performers lately, with the stock up +23.1% in the year-to-date period.
The Earnings Big Picture
In terms of S&P 500 index ‘EPS’, these growth rates approximate to $258.12 for 2025 and $290.98 for 2026.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> What Will the Q3 Earnings Season Show?
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Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.