Earnings Unscripted: Stock Earnings Calls & Analysis

Is Lockheed Martin still a defense contractor, or is it becoming a regulated utility with stealth fighters? In this episode, Susie and Miro break down a "noisy" Q4 where a massive $479M pension charge masked a record-breaking $194 billion backlog. The narrative has shifted from boutique manufacturing to industrial mass production, with the company pouring billions into concrete to support...

Railroads are supposed to be the boring, steady heartbeat of the economy. But CPKC CEO Keith Creel apparently woke up today and chose violence, accusing his competitors of "drinking the merger Kool-Aid" regarding the potential UP-NS deal. On this episode of Earnings Unscripted, Susie and Miro unpack a quarter that was equal parts disciplined flex and aggressive gambling. 🚂💨 We break down...

The "Third Place" is officially back-or at least, the customers are. For the first time in two years, Starbucks posted positive traffic growth in the U.S., proving that ceramic mugs and better staffing can actually move the needle. But as Susie and Miro unpack in this episode, that popularity came with a massive price tag. While CEO Brian Niccol is celebrating faster service times and a 25...

Microsoft just reported Q2 2026 numbers, and the market’s reaction was chilly 🥶. Despite a headline beat on earnings and revenue crossing $81 billion, the stock slid over 6% in after-hours trading. Why? Because the "beat" was largely fueled by a massive $7.6 billion accounting gain from OpenAI, while the real story lies in a capital expenditure number so large it has investors checking th...

Meta just dropped a $135 billion bombshell-and somehow, the stock went vertical. In this episode, Susie and Miro dissect a Q4 report that looks less like a standard earnings update and more like "wartime mobilization." We break down how Zuckerberg is planning to spend nearly double his 2025 CapEx on the newly branded "Meta Superintelligence Labs," and why Wall Street isn't pani...

They said hard drives were dead technology, a relic of the past. Today, Seagate Technology (STX) just proved that "spinning rust" is not only alive—it’s the backbone of the AI revolution. In this episode, Susie and Miro break down a massive fiscal Q2 2026 for Seagate, where the stock surged nearly 10% after hours. The headline numbers were a beat, but the real story is buried in the CEO’s...

Texas Instruments is usually the "sleepy grandpa" of the chip world, but this earnings report was anything but boring. Despite a "messy" Q4 with shrinking revenues and compressed margins, the stock rallied 8% in after-hours trading. Why? In this episode, Susie and Miro unpack the historic signal hidden in the guidance: for the first time in 15 years, TI is projecting a sequential j...

Boeing just posted a massive $10.23 earnings per share, but don’t let the confetti fool you. In this episode, Susie and Miro unpack why this quarter’s “profit” is actually an optical illusion created by selling off a critical business unit. We dig into the reality behind the numbers: is Boeing actually making money, or are they just selling the silverware to pay the rent? ✈️ Beyond the headline co...

Union Pacific just posted a record EPS of $3.11 for Q4 2025, but take a closer look at the engine, and you might hear some sputtering. On this episode, Susie and Miro dig into the "paper profit" that saved the quarter—specifically, how a massive $234M real estate sale masked a decline in actual freight volumes and operating income. Is this a savvy move or a sign of weakness in the core bus...

RTX just closed the year with a massive record backlog of $268 billion, effectively insulating itself from demand shocks for years to come. But the real story in this Q4 report isn't just about orders; it’s about the sheer brute force of Raytheon's cash generation. In this episode, Susie and Miro unpack how the defense giant managed to pay out $1 billion in cash compensation to airlines fo...

General Motors just posted a massive $3.3 billion net loss, yet the stock rallied over 3%. What is going on? In this episode, Susie and Miro unpack a classic "kitchen sink" quarter where GM decided to clear the decks, writing down billions in EV assets and killing off the BrightDrop van production to protect future margins. We analyze why Wall Street is treating this bloodletting as therap...

American Airlines just posted record Q4 revenue and swung back to profitability, yet the stock chart looks like a black diamond ski slope. What happened? In this episode, Susie and Miro unpack a classic "sell the news" event where a solid earnings print collided with a frozen forecast. We analyze how Winter Storm Fern is icing over Q1 guidance and why the market punished AAL despite the be...

Is Baker Hughes still an oilfield services company, or has it quietly become the engine room for the AI revolution? In this episode, Susie and Miro break down a Q4 report that signals a massive identity shift for BKR. While the traditional drilling business treads water in a soft macro environment, the Industrial & Energy Technology (IET) segment is firing on all cylinders, hitting record 20%...

Ryanair’s Q3 FY26 earnings call felt less like a financial report and more like a wrestling promo. While CEO Michael O’Leary grabbed headlines by insulting Elon Musk and declaring war on Italian regulators, the real story is what’s happening quietly behind the scenes. In this episode, Susie and Miro look past the "calculated chaos" to find a company that is ruthlessly executing on costs wh...

Intel just delivered a classic "good news, bad news" quarter—and the market definitely chose the bad news. Susie and Miro break down why INTC stock tanked 11% after hours despite beating Q4 expectations. The headline? A shocking Q1 guidance of literally $0.00 EPS. 📉 We dig into the "hand-to-mouth" supply crisis that’s leaving revenue on the table, the critical milestone of 18A fin...

GE Aerospace just booked $27 billion in orders in a single quarter—that’s more than the GDP of Iceland. But despite the massive headline number, the stock faded hard, ending the day down ~5%. Why? In this episode of Earnings Unscripted, Susie and Miro unpack the "mix trap" that’s squeezing margins even as revenue climbs. We explain why selling brand-new engines is actually a drag on profit...

United Airlines just delivered a "Teflon" quarter. Despite taking a $250 million hit from a government shutdown, UAL shrugged off the turbulence to post record revenue and beat earnings expectations. But the numbers are only half the story. In this episode, Susie and Miro unpack the "United Next" strategy and the aggressive (borderline personal) turf war brewing in Chicago, where C...

Halliburton’s Q4 report looks deceptively quiet on the surface—revenue was flat, and North American activity is shrinking. But dig a little deeper, and Big Red is making some of the wildest pivots we’ve seen in the oil patch. In this episode, Susie and Miro break down how Halliburton managed to squeeze out an 11% jump in operating profit even while "stacking" frac fleets across the U.S. to...

Johnson & Johnson is officially aiming for the $100 billion revenue club in 2026, but is the growth as solid as it looks? In this episode, Susie and Miro unpack a Q4 that was equal parts historic and messy. We break down the massive pivot in MedTech—trading steady orthopaedics for high-risk robotics like the new Ottava system—and expose the "53rd week" accounting quirk inflating next y...

3M is calling 2025 a "foundation year," but after seeing Q4 results, the concrete still looks wet. In this episode, Susie and Miro break down a messy quarter where revenue slid to $6.13B and GAAP operating margins collapsed to 13% as litigation charges returned to haunt the balance sheet. Is this just a stumble in the turnaround, or a sign of deeper structural friction? We dig past the hea...

Netflix just dropped its Q4 numbers, but the real story isn't the subscriber count—it’s buried in the deal terms. In this episode, Susie and Miro break down the massive strategic pivot that has the stock sliding: the amendment of the Warner Bros. merger to an all-cash transaction . We unpack why Netflix is suddenly freezing its beloved share buyback program to hoard liquidity, securing a massi...

BlackRock just hit a record $14.04 trillion in assets, absorbing a massive $342 billion in net inflows in a single quarter. But the headline numbers hide a much bigger strategic pivot. In this episode, Susie and Miro break down how Larry Fink is planning to "index the un-indexable", using Preqin data and Aladdin to standardize private markets just like iShares did for bonds. We also dig in...

TSMC just dropped a quarter that feels less like a standard earnings report and more like a flex on the entire global economy. While the rest of the market worries about an AI bubble popping, TSMC just put over $50 billion on the table to say: "We are just getting started." In this episode, Susie and Miro break down a Q4 report that seems to defy the laws of economic gravity. We discuss ho...

Mark Mason signed off as CFO with a classic "kitchen sink" quarter, taking a massive $1.2 billion charge to finally close the book on Russia. While the headline numbers looked messy and the stock took a 5% hit, there is a fundamental identity shift happening under the hood at Citigroup. In this episode, Susie and Miro dig past the accounting noise to reveal how Jane Fraser’s "boring ba...

The asset cap is finally history, but Wells Fargo didn’t exactly take a victory lap in Q4. Susie and Miro unpack a messy quarter where Net Interest Income defied industry trends (up 3%!), yet a 53% spike in credit provisions sent investors running. We dig into the contradictions: why is the bank cutting thousands of jobs while guiding for higher expenses in 2026? And what does the massive 50% jump...