Explore every episode of the podcast Earnings Unscripted: Stock Earnings Calls & Analysis

Apple just dropped a monster quarter with $143.8B in revenue, but the real story isn't the cash pile—it's the strategic plot twist. After months of bearish sentiment, Greater China revenue exploded +38%, essentially resurrecting the region and proving the iPhone 17 supercycle is real. However, success has a price: Tim Cook admits the company is in "supply chase mode," with Q2 growth officially capped by physics (and 3nm chip shortages). 📉🏭

In this episode, Susie and Miro dig into the details you might have missed, including the bombshell admission that Apple is collaborating with Google on "Apple Foundation Models." Is this a masterclass in capital efficiency or a sign that the Walled Garden is finally cracking?

We unpack the frenemy pivot, the 48% margins, and why the stock stayed flat despite the massive beat. 🍏👀

Is the "biotech winter" finally over? Thermo Fisher Scientific (TMO) just delivered a quarter that suggests the ice is cracking, posting high single-digit growth in the core pharma sector. In this episode, Susie and Miro unpack a wild earnings day where the stock dropped like a rock on the call only to claw its way back by the close. 📉📈

We dive into the "accounting magic trick" that allowed TMO to expand margins despite a massive 100-basis-point headwind from tariffs (sprinting up the down escalator, anyone?). We also explore the dangerous disconnect in the global science market: while the West is re-accelerating, China remains in a "coma." Plus, we discuss the company's aggressive pivot from just selling lab hardware to owning the data of science itself—featuring a $9B acquisition and a partnership with OpenAI. 🧬🤖

Join us as we analyze whether TMO is truly back in growth mode or just getting better at managing the pain, and say farewell to a CFO who’s signing off with a beat-and-raise mic drop.

Comcast’s fourth quarter was a messy paradox. Revenue is up and the stock rallied nearly 6% intraday, yet profits tanked 35% and residential broadband losses accelerated to 181,000 customers.

In this episode, Susie and Miro unpack the "Versant divorce" and whether the massive shift to "Everyday Pricing" is a brilliant pivot or a painful admission of defeat against fiber competitors. 📉

We also dig into the numbers management tried to gloss over: the fact that 50% of their "record" wireless growth came from giving away free lines, and how the new NBA rights deal instantly turned the Media segment unprofitable.

Plus, we explain why that $4 billion Free Cash Flow number is technically an accounting illusion. 🎢

Is the world’s biggest tractor company actually an AI infrastructure play in disguise? In this episode, Susie and Miro dig into Caterpillar’s chaotic Q4.

While headlines scream about a record $19.1 billion in revenue, the real story is hidden in the backlog: a massive $11 billion jump driven by hyperscalers panic-buying power generation for data centers. We break down the massive 2-gigawatt "Prime Power" order that signals a shift from digging dirt to powering the cloud. ☁️

But it’s not all green lights. We also unpack the "Protectionism Penalty" squeezing the bottom line. Despite the sales boom, margins are shrinking as CAT faces a massive $2.6 billion tariff bill for 2026.

Management has stopped reporting the "net" impact of these costs—a red flag we don't ignore. Tune in to find out if CAT’s pivot to the "invisible layer" of the tech stack can outrun the costs of the trade war. 🚜⚡

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 new 7-year "frameworks" for missile defense.🚀

We also dive into the "simulation glitches" found in the filings—why is the government suddenly referred to as the "Department of War," and what is the "One Big Beautiful Bill Act"?

Plus, we geek out on Skunk Works’ latest reveal: an F-22 controlling an autonomous drone wingman. It’s a mix of heavy industrial capex, shrinking margins, and sci-fi tech. Tune in to understand why Lockheed is trading near-term efficiency for long-term dominance. 📉📈

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 how a massive Canadian grain harvest masked weakness in the industrial economy, driving CPKC to a record-breaking 55.9% operating ratio. But the real story isn't the margins-it's the balance sheet. With the company slashing Capex by 15% and draining their cash reserves to under $200M to fund buybacks, they are officially running a "Ferrari with the fuel light on."

Are they confident, or just reckless? Tune in as we discuss the pivot from "building" to "harvesting," the "Goliath" merger risks, and why Q1 2026 might be a white-knuckle ride for investors. 📉😬

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% reduction in the menu, the P&L tells a messier story of crushed margins and skyrocketing costs to get people back in the door.

We dig into the financial gymnastics behind the headlines, including a convenient "held for sale" accounting quirk in China that artificially boosted operating income and a jaw-dropping 61.7% GAAP tax rate that confused the algorithms.

With the stock popping pre-market only to sell off by the close, investors are asking the hard question: did Starbucks fix the business, or did they just pay for a temporary boost? ☕📉

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 their math.

In this episode, Susie and Miro break down how Microsoft spent $37.5 billion in just 90 days-essentially burning the annual revenue of a Fortune 500 company to build what Satya Nadella calls a "Token Factory." We unpack the terrifying economics of "short-lived assets" (GPUs that depreciate in just a few years) and the race for silicon independence with the new Maia and Cobalt chips. Plus, we dig into the startling revelation that 45% of Microsoft’s commercial backlog is now tied to a single entity: OpenAI.

Is Microsoft building the future, or just a very expensive utility company with an expiration date? Tune in to find out. 🎧

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 panicking this time.

The real story isn't the ad revenue (which is printing money) or the Metaverse losses (which are finally peaking); it's the "Industrial Revolution for Code." With headcount flat and debt doubling, we explore the wildest thesis of the quarter: Meta is effectively swapping human salaries for silicon, using AI agents to replace engineering hours.

Is this the ultimate defensive moat, or the world's most expensive heating system for a data center? Tune in for the breakdown. 🤖💸

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 commentary: Seagate is effectively sold out of nearline capacity through the end of the year. 🤯

We dig into what "fully allocated through 2026" actually means for pricing leverage and why customers are begging for capacity 18 months in advance. We also unpack the "Mozaic" HAMR technology that has finally graduated from science project to enterprise standard, and why "Agentic AI" is creating a massive data tsunami that flash storage simply can’t handle.

Is this the start of a new super-cycle, or is Seagate walking a dangerous tightrope with no inventory safety net? Tune in for the unvarnished truth behind the numbers. 💾📈

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 jump in Q1, potentially marking the end of the "analog winter." 🥶📈

We dig into the company’s sudden pivot to "Data Center" (which grew 70% YoY), the massive 222-day mountain of inventory they claim is a "strategic asset," and the dramatic cut in Capex that transforms the stock from a construction project back into a cash cow.

Is this the bottom of the cycle, or a high-stakes bet on a recovery that hasn't happened yet? Tune in for the full breakdown. 🎙️

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 confusion, this was a pivotal quarter. The infamous "Shadow Factory" is officially dead, and cash flow has finally turned positive. But just as the commercial side recovers, new ghosts are appearing.

We discuss the fresh "durability issue" found in the 777X engine that has investors sweating, and why the Defense segment is bleeding cash while the rest of the world buys fighter jets. It’s a clean slate year for Boeing, but the house might still be smoldering. 📉

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 business?

We also unpack the escalating drama with the STB over the Norfolk Southern merger. Regulators are demanding Union Pacific disclose their "red line" price, and CEO Jim Vena isn't happy about it.

Plus, we discuss the "buffer" strategy that helped the network survive the Texas ice storms, and why a pause on buybacks combined with a "muted" economic outlook might make 2026 a grinding year for shareholders. 🚂📉

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 for the GTF engine crisis in a single quarter and *still* generate $3.2 billion in Free Cash Flow. 💸

We dig past the headline beat to find the "lumpy" truth hidden in the footnotes: a $157M charge from a customer bankruptcy at Pratt & Whitney versus a convenient $102M profit boost from a "restarted" Middle East contract.

Plus, we look at the $600M "geopolitics tax" RTX paid in tariffs, the reality of the manufacturing ramp (munitions output is finally up 20%), and the massive "Iron Dome for America" project lurking in the 10-Q. Is RTX a messy conglomerate or the ultimate defense utility? Tune in to find out. 🚀

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 therapeutic rather than disastrous. 📉➡️📈

Beyond the headline numbers, we dig into the collapse of GM’s China business (which swung from cash cow to a half-billion-dollar liability) and the under-the-radar approval of GM Financial’s "Industrial Bank" charter—a boring but brilliant move that gives them a massive structural advantage.

Tune in to hear why GM is pivoting from "Growth Tech" promises back to "High-Yield Industrial" reality, and what that means for your portfolio. 🏦🚗

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 beat. ❄️📉

Beyond the weather, we dig into the structural shift happening inside the cabin. American is flying fewer passengers but making more money per mile—a strategy we’re calling the "gentrification of the fuselage." We also scrutinize the balance sheet, where management is aggressively paying down debt a year ahead of schedule, even while free cash flow remains negative.

Is American selling the furniture to pay the mortgage? Tune in for the unscripted reality check. ✈️💰

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% margins.

The real headline? Management revealed that their gas turbines—essential for off-grid data centers—are effectively sold out through 2028. We unpack the implications of this "power bottleneck," the reality behind their doubled $3B data center target, and why the "flat" revenue guidance for 2026 is actually an optical illusion hiding a leaner, more profitable machine.

 If you want to know why the stock reversed from pre-market lows to close at session highs, this is the breakdown you need. ⚡️📉

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 while the rest of the industry struggles.

We break down the numbers that actually matter, including a massive "weaponized" fuel hedge that locks in pricing at $67/bbl for next year—giving Ryanair a terrifying advantage over its competitors.

We also discuss why the airline is building its own engine shops to bypass supply chain disasters, why O’Leary explicitly rejected Starlink, and how the company remains profitable even in the dead of winter. It’s a masterclass in boring excellence wrapped in a PR nightmare. ✈️🇮🇪

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 finally shipping, and the strange reality where Nvidia is funding Intel’s survival.

Plus, we analyze management's new "Show Me the Money" foundry strategy: no customers, no new equipment. Is this extreme capital discipline the turnaround signal we’ve been waiting for, or is it just surgery without anesthesia? 🏥

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 profitability right now, and why the "batch to flow" factory transition is creating chaos on the shop floor.

We also dig into the red flags hidden in the footnotes. From a collapsing margin in the Defense segment (down to 8.9%) to a $2 billion inventory pile-up caused by "golden screw" supply chain shortages, the execution risk is real.

Plus, we expose a clever accounting reshuffle set for 2026 that moves the "nice furniture" (Aeroderivatives) into the Defense segment to fix the optics. If you want to know why Wall Street is wary of the "supercycle," this is the episode for you. ✈️📉

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 CEO Scott Kirby is openly predicting billion-dollar losses for American Airlines.

We also dive into the industry's strange paradox: why a global shortage of engines might actually be the best thing for United’s profit margins.

From the booming demand for premium seats to the pivot of MileagePlus into a "merchandising" machine, we break down what investors need to know. ✈️📈

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 protect pricing power. It’s a masterclass in discipline over market share. 🛢️

The real story, however, is where they are going next. We unpack CEO Jeff Miller’s surprisingly bullish comments about re-entering Venezuela ("early steps are well underway") and the bizarre-but-brilliant plan to use fracking power technology to feed energy-hungry AI data centers.

From geopolitical gambles to manufacturing pivots, we discuss if this "year of rebalancing" is a warning sign or a buying opportunity. 🇻🇪⚡

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 year's guidance.

It’s not all victory laps, though. We dig into the darker side of the balance sheet, including a looming $500 million tariff bill and a distinct shift in legal strategy that suggests the Talc saga is moving from settlement talks to "aggressive" litigation.

Is J&J successfully reinventing itself as a high-tech growth machine, or just a giant with an identity crisis? Tune in for the unscripted truth. 🩺🤖

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 headline numbers to unpack the most controversial strategic shift on the call: 3M’s decision to pivot its premium electronics business into the "mainstream" market.

We analyze what "Design-to-Cost" really means for 3M’s famed innovation culture and investigate the "Consumer Head-Fake"—why a double-digit sales spike in December might be masking weakness rather than signaling recovery. 🏗️📉

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 massive $42B bridge facility, and what this high-stakes bet means for shareholders who were used to "autopilot" returns.

Beyond the balance sheet, we dig into the identity crisis at the big red N. From Ted Sarandos declaring "business isn't a religion" (and finally embracing theatrical releases!) to the CFO confirming a "TikTok-style" vertical video feed for 2026, Netflix is becoming a very different beast to fight off the competition.

Whether you're watching for the ad-tier growth or the looming regulatory battle, this is the deep dive you need on the new Netflix empire. 🍿📉

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 into the "ruthless efficiency" of BlackRock’s plan to keep headcount flat while integrating massive acquisitions, the counter-intuitive rise in fee yields, and management’s warning about a coming "catch-up" in private credit defaults.

Is the era of easy cash over? Tune in for the full breakdown. 📉💰

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 how gross margins hit a staggering 62.3% (and are guiding higher), why the "energy crisis" narrative might be wrong, and the CEO’s blunt admission that he personally "double-checked" his customers' bank accounts to ensure they can pay up.

If you want to know if the AI supercycle is real, TSMC just gave you a fifty-billion-dollar answer. Tune in to find out why the bottleneck isn't the power grid: it's the silicon. 🤯🚀

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 banking" thesis is finally proving itself: for the first time in a long time, the steady "plumbing" of Services revenue is significantly outpacing the volatile trading floor. 🏦

But it’s not all good news. We unpack a glaring warning sign in the Wealth division, where net new assets plummeted 61% despite a roaring bull market. Is the turnaround actually working, or are the wealthy voting with their feet?

We also discuss the regulatory "target state," the lifted consent order article, and why 2026 might finally be the year Citi gets a clean slate. Tune in for the unscripted breakdown. 📉

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 in trading assets tell us about Charlie Scharf’s new, riskier strategy?

The sleeping giant is awake, but it might be stumbling out of the gate. Tune in to understand the pivot from "safe buybacks" to "expensive growth." 🏦📉

It’s a tale of two banks in Bank of America’s Q4 report. While the "boring" engine of traditional banking is finally revving up with a pivotal jump in Net Interest Income, the trading desk completely stalled out, dragging the stock down with it.

In this episode, Susie and Miro unpack why the market punished a quarter that, on paper, looked like a soft landing success story. Was this just a seasonal blip in trading, or a missed opportunity in a volatile market?

Beyond the headline numbers, we dig into the fine print that most analysts glossed over. We break down the "financial photoshop" behind a retrospective accounting change that made the efficiency ratio look prettier, and explore the "AI Paradox" where declining chatbot interactions are actually a good thing.

Plus, we discuss CEO Brian Moynihan’s stark warning about the "Genius Act" and how stablecoins might be draining the lifeblood out of small business lending. Tune in for the unscripted reality behind the balance sheet. 📉🤖

Is Delta Air Lines actually just a credit card company that owns a really big repair shop? In this episode of Earnings Unscripted, Susie and Miro dive into Delta’s Q4 2025 numbers, where a record $16 billion in revenue is only half the story.

While the airline posted a massive $4.6 billion in free cash flow, the real action is happening in the footnotes. We unpack the "Un-Airline" strategy: how booming maintenance revenues (up 25%) and an $8.2 billion paycheck from American Express are reshaping the company's identity—and why management is changing the accounting rules next quarter to make the airline look leaner.

We also look at the cracks in the "Goldilocks" narrative. With Main Cabin pricing stagnant (are economy passengers just "cargo that talks"?) and operational costs creeping up, Delta is making a massive bet on the premium consumer holding strong.

Plus, we discuss the surprise Boeing 787 order and why the market initially panicked before buying the dip. Tune in for a sharp, unscripted breakdown of whether this transformation makes Delta a durable compounder or a high-wire act. ✈️💳

Jamie Dimon usually walks into earnings season like he owns the place, but this quarter, the rent just went up. In this episode of Earnings Unscripted, Susie and Miro break down a messy Q4 for JPMorgan Chase where Net Income dropped 10% and the stock surrendered its recent gains.

The headline? A massive "Trust Me Tax." Dimon is guiding for a staggering $105 billion in expenses for 2026—bucking the industry trend of efficiency—and asking investors to have faith in the vision without seeing all the receipts. 📉

We dig past the surface numbers to explain the "strategic pain" behind the $2.2 billion Apple Card reserve and why the bank is voluntarily taking a hit now to clean up the books for later. Plus, we analyze JPM’s defensive slide on "shadow banking" and how the trading desk saved the quarter while investment bankers hit the snooze button. Is this hubris or a masterclass in long-term renovations?

Tune in for the unfiltered take on the biggest bank in the world. 🏦

The blue-and-yellow can is getting more profitable, but shareholders aren't seeing the cash.

In this episode, Susie and Miro dissect a perplexing Q1 2026 for WD-40 Company. Gross margins jumped to an impressive 56.2%—driven by the "premiumization" of the Smart Straw—yet Net Income actually dropped 8%. How does that math work?

We break down the massive spike in the "Cost of Doing Business" that spooked the market, the sudden 33% collapse in Asia distributor sales, and why the company is actively trying to sell off its household cleaning brands (goodbye, 2000 Flushes).

Is the after-hours stock drop a buying opportunity or a warning sign? Tune in to find out if the "Smart Straw" strategy is enough to save the bottom line. 🛠️📉

Constellation Brands (STZ) just reported Q3 earnings, and the results are… messy. With beer shipments dropping 14% and the unstoppable Modelo growth engine actually stalling, how did the company manage to keep earnings flat?

In this episode, Susie and Miro dig past the headlines to unpack the financial maneuvering keeping the ship afloat and why management’s refusal to cut guidance might be a high-stakes gamble.

The real story, however, is hiding in the footnotes. We break down management’s fascinating new economic indicator—the slowdown in "4,000+ calorie jobs"—and what this specific metric tells us about a potential blue-collar recession in construction and agriculture.

From rising aluminum tariffs eating into margins to the "depreciation flip" waiting in Q4, we cover why this beer giant might be facing a serious hangover. Grab a cold one (or not, apparently) and tune in! 🍺📉

The Kroger merger is officially in the rearview, and Albertsons is waking up to a "New Day." But is the market buying it?

In this episode, Susie and Miro unpack a chaotic quarter where reported revenue scared the algorithms, but the actual profits told a very different story. We explain why a confusing government regulation (the IRA) made the top line look worse than it is, causing a sell-off despite a massive 66% jump in operating income.

Beyond the headline numbers, we dig into the company’s aggressive pivot from selling bananas to selling data. We analyze the $750M buyback, the high-margin "Media Collective" strategy, and the surprising revelation that their new "AskAI" tool is already boosting basket sizes by 10%.

Is Albertsons transforming into a tech-savvy standalone compounder, or just trying to engineer growth while the consumer softens? Tune in for the unvarnished truth behind the print. 🎧🛒

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Email: contact@datamadness.ca

Twitter: @EarnUnscripted

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*Disclaimer: This podcast is for informational and educational purposes only and does not constitute financial, investment, or legal advice. Content may include AI-generated analysis and summaries that can contain inaccuracies. Always conduct your own research or consult a qualified professional.*

In this episode of Earnings Unscripted, Susie and Miro unpack a quarter that proves Costco is far more than just $1.50 hot dogs and bulk toilet paper. While the headline numbers were solid (revenue up 8% and a nice EPS beat) the real story is happening behind the scenes.

We discuss how a retailer famous for resisting technology suddenly posted a massive 20% surge in e-commerce and a 48% jump in app traffic. Is the sleeping digital giant finally waking up?

We also dig into the mechanics of the long-awaited membership fee hike. The income jump was huge, but the math reveals a surprising truth about volume versus price.

Plus, we explore a rare "crack" in the renewal rate caused by younger shoppers, the company's massive inventory bet to dodge tariffs, and, believe it or not, Costco’s plan to build apartments on top of their warehouses. 🌭🏗️

Tune in for a sharp, no-fluff breakdown of what this really means for the stock and the future of the warehouse club model.

*****************************************

Email: contact@datamadness.ca

Twitter: @EarnUnscripted

******************************************

*Disclaimer: This podcast is for informational and educational purposes only and does not constitute financial, investment, or legal advice. Content may include AI-generated analysis and summaries that can contain inaccuracies. Always conduct your own research or consult a qualified professional.*