S&P 500 Industrials Sector SEC Filings — October 28, 2026

28-10-2026

ADP reported first quarter fiscal 2027 revenues of $5.5 billion, up 6% year over year (6% organic constant currency), with net earnings up 11% to $1.1 billion and diluted EPS up 14% to $2.83. Adjusted EBIT rose 12% to $1.5 billion and adjusted EBIT margin expanded 130 basis points to 26.8%. The company raised its full-year guidance for revenue and adjusted diluted EPS growth, though it guided Employer Services client revenue retention lower by 10 to 30 basis points and PEO Services segment margin was flat in the quarter.

• · Accrued payroll and payroll-related expenses fell from $1,039.4M to $579.2M sequentially, a 44% decline, partly reflecting the timing of payroll-related cash needs.
• · Total liabilities increased to $58,361.7M from $57,162.1M, driven by a $1,624M rise in client funds obligations to $46,039.6M.
• · Treasury stock rose to $(23,958.6)M from $(23,165.9)M as buybacks of $758.8M outpaced other activity.
• · Operating cash flow was roughly flat at $651.0M versus $642.3M, while cash used in investing rose to $882.4M from $1,862.6M in the prior-year period.
• · FY27 outlook for ADP's Employer Services client revenue retention was lowered by 10 to 30 basis points versus the prior year, a negative guidance item.

28-10-2026

GE Vernova reported Q3 2026 total revenues of $12,642 Million, up 26.8% from $9,969 Million in Q3 2025, with net income attributable to GE Vernova of $1,291 Million versus $452 Million a year earlier; Q3 operating income rose to $1,394 Million from $366 Million. Nine-month results were boosted by a $4,947 Million Other income (expense) line, largely from gains on business interest sales, so nine-month net income of $6,704 Million is not representative of core operations. Balance sheet activity was heavy, including $4,877 Million of net cash paid for acquisitions, $5,296 Million of share repurchases, and $19,511 Million of contract liability growth.

• · Nine-month 2026 Other income (expense) – net of $4,947 Million (vs $455 Million in 2025) is primarily driven by gains on purchases and sales of business interests, which inflates reported net income and is non-recurring in nature.
• · Q3 2026 gross margin widened to roughly 24.6% (gross profit $3,107 Million on $12,642 Million revenue) from roughly 19.0% in Q3 2025, though cost of services grew 8.2% ($3,145M vs $2,906M), outpacing services revenue growth of 5.2%.
• · Q3 2026 Other income (expense) – net declined to $105 Million from $221 Million, a 52.5% decrease YoY, partially offsetting operating income gains below the operating line.
• · Contract liabilities and deferred income more than tripled-plus to $45,669 Million from $25,774 Million at year-end 2025, a substantial customer-prepayment build that drove operating cash flow of $16,737 Million for nine months.
• · Long-term borrowings rose to $2,795 Million from $265 Million after $2,567 Million of newly issued debt, while share repurchases of $5,296 Million for nine months significantly exceeded dividends of $406 Million.
• · Goodwill rose to $9,609 Million from $4,439 Million and intangible assets to $4,343 Million from $727 Million, reflecting acquisitions totaling roughly $4,877 Million in net cash outlays during nine months.
• · Q3 2026 SG&A expenses grew 10.9% ($1,354M vs $1,221M), a moderate increase relative to revenue growth of 26.8%, supporting operating leverage.
• · Common shares outstanding fell to 264,677,066 from 269,529,464 at year-end 2025 due to buybacks, while basic EPS for Q3 2026 was $4.86 versus $1.66 in Q3 2025.

28-10-2026

Otis reported Q3 2026 net sales of $3,914 million, up 6% (organic up 6%), led by Service net sales up 8% and New Equipment up 3%. GAAP EPS rose 14% to $1.08, but adjusted EPS was flat at $1.05 and adjusted operating profit declined $6 million as New Equipment profit fell sharply, with adjusted operating margin contracting 110 bps to 16.0%. The company maintained its full-year 2026 outlook, with adjusted EPS guided to $4.01 to $4.05.

• · New Equipment China sales declined by more than 20% in Q3 2026, and China New Equipment orders fell by a low teens percentage
• · New Equipment segment operating margin contracted 150 bps to 3.2% in Q3 2026 and 200 bps to 3.2% over nine months
• · Q3 2026 operating cash flow fell 9.9% and adjusted free cash flow fell 19.3% year over year
• · Adjusted effective tax rate, higher interest expense, and unfavorable FX weighed on adjusted EPS
• · Service margin still contracted 130 bps YoY despite a 100 bps sequential improvement
• · Full-year adjusted free cash flow outlook was narrowed to approximately $1.5 billion from $1.50 to $1.55 billion

28-10-2026

Waste Management reported Q3 2026 operating revenues of $6,846 Million, up 6.2% YoY from $6,443 Million, and net income attributable to WM of $820 Million, up 36.0% from $603 Million, with diluted EPS of $2.05 versus $1.49 a year earlier. Performance was mixed beneath the headline: operating expenses rose 7.8% YoY to $4,093 Million, SG&A declined 1.5% to $655 Million, and interest expense increased 5.3% to $237 Million, while the prior-year quarter's $213 Million of divestiture and impairment charges largely did not recur (only $18 Million in Q3 2026).

• · Consolidated net income was $820 Million in Q3 2026 versus $603 Million, while the 9M period reflects $2,329 Million consolidated net income versus $1,967 Million.
• · Free cash flow proxy is solid: 9M operating cash flow of $4,867 Million less capex of $1,937 Million implies roughly $2,930 Million, versus $2,006 Million a year earlier.
• · Total debt rose to $23,370 Million from $22,907 Million at December 31, 2025, and the current portion of long-term debt more than doubled to $1,524 Million from $711 Million.
• · Acquisition spending fell to $89 Million in 9M 2026 from $395 Million, and divestiture proceeds declined to $79 Million from $108 Million.
• · Landfill closure/post-closure liabilities increased to $3,366 Million from $3,305 Million, while environmental remediation liabilities decreased to $220 Million from $231 Million.
• · Other comprehensive loss of $80 Million in 9M 2026 reversed a prior-year gain of $84 Million, driven mainly by foreign currency translation adjustments of -$63 Million.

28-10-2026

Honeywell Aerospace (Nasdaq: HONA) reported Q3 2026 sales of $4.6 billion, up 2% reported and organically, with net income of $737 million (up 13%) and adjusted EBIT of $1.16 billion (up 1%, including roughly $50 million of IEEPA tariff refunds offset by new standalone public-company costs). Mixed performance: Engines and Power Systems adjusted EBIT fell 16% and Control Systems sales were flat, while the company raised its second-half free cash flow and pro forma standalone adjusted EPS guidance and declared its inaugural $0.40 quarterly dividend.

• · Electronic Solutions sales rose 4% (5% organic) to $1,784M, with segment adjusted EBIT up 11% to $564M
• · Engines and Power Systems sales rose 3% to $1,515M, but segment adjusted EBIT fell 16% to $250M due to mix and costs
• · Control Systems sales were flat at $1,345M; segment adjusted EBIT rose 2% to $382M
• · Full-year 2026 organic growth outlook maintained at 4%-5%; pro forma standalone adjusted EPS guidance raised to $7.85-$8.00 from $7.60-$7.90
• · Full-year pro forma standalone adjusted EBIT guidance narrowed to $4.375B-$4.425B from $4.35B-$4.45B; YoY growth guidance narrowed to up 1%-2% from flat to 3%
• · Dividend payable December 4, 2026 to holders of record as of November 13, 2026
• · Q3 adjusted EBIT growth was flattered by roughly $50M of IEEPA tariff refunds and offset by new standalone public-company costs

28-10-2026

FedEx released supplemental recast historical financials reflecting its change in fiscal year end to December 31 (seven-month Transition Period from June 1, 2026), the June 1, 2026 spin-off of FedEx Freight (now discontinued operations), and a new two-segment structure (Express U.S. Domestic and Express International). For the first and second calendar quarters of 2026, continuing-operations revenue was $20,788M and $22,930M, with operating income of $919M and $1,327M (operating margin roughly 4.4% and 5.8%). Second-quarter operating income rose sharply versus the first quarter, but fuel expense more than doubled from $820M to $1,344M, and International segment operating income declined from $119M to $108M, so performance was mixed.

• · Express U.S. Domestic operating income rose from $880M (6.5% margin) in Q1 to $1,379M (9.2% margin) in Q2 2026.
• · U.S. Domestic composite revenue per package increased from $15.04 to $15.65, with U.S. priority yield up from $27.61 to $28.63.
• · Express International composite package yield rose from $27.73 to $29.98, but International operating margin compressed from 1.8% to 1.5%.
• · Q2 2026 net income of $6,129M was driven by $4,533M of other nonoperating income, far exceeding operating income; excluding this item, earnings would be substantially lower.
• · Q2 2026 other retirement plans income of $839M compared with $56M in Q1, a significant contributor to pre-tax income.
• · Corporate, other, and eliminations operating loss widened from $(80)M in Q1 to $(160)M in Q2, with management noting stranded costs from the Spin-Off.
• · Fuel costs cited in forward-looking risks as sensitive to Russia-Ukraine and Middle East conflicts; Q2 fuel increase was a major margin headwind.
• · Dividends declared per share fell from $1.44 in Q1 to $1.19 in Q2 2026.

28-10-2026

ITW reported Q3 2026 operating revenue of $4,236M, up 4.4% YoY from $4,059M, and net income of $855M, up 4.1% from $821M; diluted EPS was $3.00 versus $2.81 (+6.8%). Nine-month revenue rose 5.0% to $12,553M and net income rose 7.1% to $2,438M. Growth was uneven: Automotive OEM (-1.9% in Q3) and Construction Products (-0.2%) and Specialty Products (-1.1%) declined or were flat, while Test & Measurement and Electronics (+17.3%) and Welding (+7.5%) led.

• · Q3 2026 Food Equipment revenue was $698M, up 0.6% YoY, essentially flat
• · Q3 2026 Polymers & Fluids revenue grew 8.2% to $477M
• · Long-term debt rose to $7,153M from $6,683M while short-term debt fell to $2,219M from $2,286M
• · Nine-month share repurchases of $1,312M reduced treasury-stock-adjusted equity; shares outstanding fell to 284.2M from 288.6M
• · Trade receivables increased to $3,516M from $3,227M, a $300M cash outflow in nine-month operating cash flow
• · Free cash flow approximated $2,010M for nine months (operating cash flow $2,299M less capex $289M)
• · Cash and equivalents declined to $809M from $851M at year-end 2025

28-10-2026

Director ZILLMER JOHN J sold 19,500 Common Stock at $51.24 (~$999K). ZILLMER JOHN J holds 334,214 shares after the transaction.

• · Director ZILLMER JOHN J sold 19,500 Common Stock at $51.24 (~$999K)