5 Leading Stocks Poised to Trounce Q3 Earnings Expectations

investing.com:

The third quarter earnings season on Wall Street gathers momentum this week, with some of the biggest names in the world set to report their latest financial results.

While most of the focus will be on the mega-cap technology stocks, like Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Amazon (NASDAQ:AMZN), and Apple (NASDAQ:AAPL), there are several fast-growing names set to enjoy robust earnings and sales growth thanks to swelling demand for their products and services.

As such, here are five stocks worth owning ahead of their quarterly reports in the days and weeks ahead.

Between its attractive valuation, encouraging fundamentals, and dependably profitable business model, I believe that shares of Caterpillar (NYSE:CAT) are well worth buying amid the current market backdrop.

The industrial giant, which is widely viewed as a proxy for global economic activity, is one of the world’s leading manufacturers of construction, mining, and energy equipment.

Shares — which climbed to an all-time peak of around $298 in early August — are up 4.2% in 2023 amid optimism over the resilience of the global economy as well as signs of increased infrastructure spending in the U.S.

As such, it shouldn’t come as a surprise that Caterpillar is forecast to deliver strong profit and sales growth when it reports third quarter earnings before the U.S. market opens on Tuesday, October 31 at 6:30AM EST.

In a sign of increasing optimism, EPS estimates have seen 17 upward revisions in the past 90 days, according to InvestingPro, as it benefits from favorable industry demand trends given the promising outlook for construction and mining machinery sales.

Consensus estimates call for Caterpillar to report a profit of