Q3 Earnings Season Scorecard and Analyst Reports for NVIDIA, Philip Morris & Home Depot

Q3 earnings season is delivering strong beats: 38 S&P 500 companies have reported, posting 48.7% earnings growth, with 84.2% topping EPS estimates. Micron boosted the aggregate growth figure, so the headline number likely overstates breadth. That's interpretation, not a reported finding.

Stock-level takeaways

• ▸NVDA: Zacks points to AI infrastructure demand as the driver benefiting NVIDIA. That remains the core demand narrative for the stock.
• ▸PM: Philip Morris is transitioning to smoke-free products and showing strong pricing power. The transition story and pricing leverage are the two pillars of the thesis.
• ▸HD: Home Depot faces discretionary spending headwinds but is investing in digital and Pro segments. The setup pairs near-term demand pressure with longer-term spending on those two areas.

Also covered: Zacks also profiled CPI Aerostructures, FLEX, Suncor Energy, and HMC, though the summary offers no specifics on those names.

Interpretation: the 84.2% beat rate suggests analyst bars were set low, which can limit upside reactions even on clean prints. With Micron inflating the 48.7% growth figure, the market may be pricing a narrower earnings recovery than the headline implies.