Five components of the Dow Jones Industrial Average will release quarterly financial results this week. The reporting companies include 3M, IBM, Honeywell, Procter & Gamble, and American Express.
Earnings schedule and ETF impact
The reports are scheduled as follows:
- 3M Company (NYSE: MMM): Q3 results on Tuesday before market open
- International Business Machines (NYSE: IBM): Q3 results on Wednesday after market open
- Honeywell International (NASDAQ: HON): Q3 results on Thursday before market open
- Procter & Gamble (NYSE: PG): Q1 results on Thursday before market open
- American Express (NYSE: AXP): Q3 results on Friday before market open
These five stocks collectively account for 12.35% of the SPDR Dow Jones Industrial Average ETF (DIA) assets. This concentration may influence fund volatility during the reporting period. The asset weight is lower than the previous week, when five other components represented 25.74% of the ETF's holdings.
| Stock |
Holding Rank |
Weight in DIA ETF |
| American Express |
12th |
3.58% |
| IBM |
18th |
2.65% |
| Honeywell |
21st |
2.42% |
| 3M |
23rd |
1.88% |
| Procter & Gamble |
24th |
1.82% |
Analyst estimates and performance history
Current consensus estimates for the upcoming reports show mixed expectations against prior year figures.
| Company |
EPS Estimate (vs LY) |
Revenue Estimate (vs LY) |
Beat Streak |
| 3M |
$2.39 (vs $2.19) |
$6.61 billion (vs $6.30 billion) |
10+ quarters |
| IBM |
$2.87 (vs $2.65) |
$16.82 billion (vs $16.33 billion) |
10+ quarters |
| Honeywell |
$2.16 (vs $5.64) |
$5.00 billion (vs $10.41 billion) |
9 of last 10 |
| Procter & Gamble |
$1.88 (vs $1.99) |
$22.79 billion (vs $22.39 billion) |
10+ quarters |
| American Express |
$4.48 (vs $4.14) |
$20.12 billion (vs $18.43 billion) |
8 of last 10 |
Honeywell’s prior year comparisons reflect a recent spinoff, resulting in lower absolute revenue and EPS baselines. Procter & Gamble’s EPS estimate is below the prior year figure despite a strong history of beating analyst forecasts.
Key themes and stock performance
Investors will monitor specific sector trends across these reports. For Procter & Gamble, attention will focus on market share dynamics and consumer behavior regarding store-brand alternatives. Honeywell’s post-spinoff structure will be scrutinized for future growth opportunities. IBM’s results will provide insight into its position within the artificial intelligence and software sectors.
Year-to-date performance indicates divergence among the reporting stocks. The SPDR Dow Jones Industrial Average ETF trails broader market indices, with an 8.0% gain compared to 12.4% for the S&P 500 ETF Trust and 17.5% for the Invesco QQQ Trust.
| Stock |
YTD Performance |
1-Year Performance |
| Procter & Gamble |
+10.9% |
+3.5% |
| Honeywell |
+3.3% |
+3.8% |
| 3M |
+2.4% |
+5.9% |
| American Express |
-15.7% |
-10.1% |
| IBM |
-18.9% |
-16.7% |
What the numbers show
A divergence exists between consensus estimates and year-to-date market sentiment for two major reporters. Both IBM and American Express have positive EPS growth estimates versus the prior year ($2.87 vs $2.65 for IBM; $4.48 vs $4.14 for Amex), yet both stocks rank among the worst performers in the index year-to-date (-18.9% and -15.7%, respectively). This suggests that current market pricing reflects concerns beyond immediate quarterly earnings, potentially tied to longer-term structural challenges or macroeconomic headwinds not fully captured in short-term EPS forecasts.
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