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Trade Wars
Key Earnings
Intel reported disappointing third-quarter results and forecast a prolonged slowdown in personal-computer sales. Much of the pressure on the PC segment is coming from the persistently high price of memory chips, and the company expects that pressure to remain into 2028. Intel’s revenue grew 21% to $16.51 billion in the third quarter, missing analyst expectations for $16.56 billion. Revenue from the company’s data center and AI segment surged 78%, to $7.3 billion, but revenue in the client computing and physical AI group fell 5%, to $8.1 billion. The company reported a third-quarter profit of $3.32 billion, compared with $4.06 billion in the year-ago period. - WSJ
Amazon's free cash flow — the cash left after paying for data centers, warehouses, and equipment — was an outflow of more than $42 billion over the 12 months through September, according to its third quarter results released Thursday. That's nearly double the previous record of about $23 billion, set in 2022 after Amazon overbuilt its warehouse network. Three months earlier, the outflow was less than $8 billion. Amazon Web Services (AWS) grew 39% to about $46 billion, its fastest pace in nearly five years, and Amazon's operating margin of nearly 14% was its highest ever. CEO Andy Jassy said in the release that he projects AWS growth of more than 40% in both 2027 and 2028. – Yahoo Finance
Chevron delivered a blowout third-quarter earnings report. The oil giant generated nearly $10.3 billion in adjusted earnings, or $5.28 per share. That's almost triple the $3.6 billion, or $1.65 per share, it reported in the third quarter of last year. Meanwhile, the company produced $12 billion in free cash flow, more than double the $4.9 billion it reported in the year-ago period. U.S. downstream (refining) earnings rocketed more than 450% to almost $3.6 billion, while earnings from its international downstream operations jumped more than 150% to $1.3 billion. Those strong market conditions helped Chevron offset a nearly 3% decline in production due to disruptions in the Middle East. – Yahoo Finance
Hudson Valley Based Regeneron Pharmaceuticals stock is up 12% today after a third-quarter beat powered by Dupixent, the blockbuster drug it shares with Sanofi. Regeneron reported revenue up 36% to $5.1 billion, against the $4.56 billion analysts expected and adjusted EPS up 70% to $20.07, against $16.25 expected. Dupixent (dupilumab) is a biologic medication that treats moderate-to-severe inflammatory and allergic conditions by blocking IL-4 and IL-13 protein signaling. Dupixent sales were up 35% to $6.5 billion. - TIKR
General Dynamics raised its 2026 revenue and profit forecasts on Friday after reporting stronger-than-expected third-quarter results, helped by robust demand for Gulfstream business jets and submarine programs. Rising military spending amid ongoing wars and resilient demand for private aviation helped drive orders across the company's businesses. The defense contractor forecast 2026 earnings-per-share to range between $17.20 and $17.30, up from its previous forecast of $16.80 to $16.90. It expects annual revenue of $56.5 billion to $56.8 billion, up from about $55.7 billion previously. - Reuters
Caterpillar delivered one of its strongest third quarters on record, powered by data center buildouts as orders across power generation, construction and mining continued to grow. The heavy machinery maker saw its backlog reach $78 billion, nearly double what it was a year ago. Caterpillar has taken steps to expand production of its large reciprocating engines and turbines, while increasing capacity, to meet surging demand for data center customers. Net sales and revenue was $20.7B, Up 17% YoY and profit was $3.3B. Caterpillar’s power and energy division, which manufactures gas-powered engines and generators, led the way for the company during Q3. Sales totaled $8.8 billion, up 18% from the same period last year. Most of the growth came from power generation sales, which increased 30% year over year and were fueled by data center customers, according to the report. - Manufacturing Dive
North American Robot Orders Grew Nearly 25% In Q3
The Association for Advancing Automation said this was the strongest quarter of 2026, driven by “substantial increases” in orders from the semiconductor, biopharmaceutical and automotive industries. Robots purchased by North American companies in the third quarter reached 10,989 orders, marking a 24.8% increase over last year, according to data released by the Association for Advancing Automation this week.
They were valued at $723.5 million, up 26.1% from the same period a year ago, data show. Manufacturers across industries, including semiconductor, biopharmaceutical and metals, had “substantial increases” in orders as capital poured into the U.S. market for facility automation and expansion. Collaborative robot orders increased 56% versus last year and comprised 16.7% of all units purchased during Q3. The quarter also marked a return to growth for the automotive sector, which saw declines in robot orders during the first half of 2026.
Read more at Manufacturing Dive
USDA To Fund 8 Fertilizer Manufacturing Projects Totaling More Than $1.3B
The U.S. Department of Agriculture pledged to fund eight fertilizer manufacturing projects that bolster domestic production and represent more than $1.3 billion in investments, Vice President J.D. Vance and Secretary of Agriculture Brooke Rollins announced Oct. 22. The agency committed $573 million in proposed funding from its Fertilizer Investment and Expansion for Long-Term Domestic Supply Program for the projects, according to a news release. It diverted some funding from the Biden administration’s Fertilizer Production Expansion Program for the effort.
The agency selected projects in major farming states that support new and expanded manufacturing capacity for nitrogen, phosphorus, potassium and sulfur fertilizers, including the development of two facilities led by Agriculture Project Holdco in Kansas and Indiana. The USDA estimated that additional capacity could reduce nitrogen prices by 4.4% and potash prices by 5.3% once the projects are operational. The recent investments are expected to support nearly 1.1 million tons of annual domestic fertilizer production.
Read more at Manufacturing Dive
Honeywell Aerospace To Build New State-Of-The-Art Manufacturing Facility In Arizona To Support Growing Commercial And Defense Demand
Honeywell Aerospace last week announced a major expansion of its manufacturing facilities, strengthening the company’s ability to meet growing demand across current and next-generation commercial aviation and defense programs. The new $500 million, 300,000-square-foot Tempe, Arizona facility will include an integrated digital production system, modular robotics, automated inspection, digital twins, and be powered by an end-to-end digital thread. The facility will support the largest commercial and defense customers in aerospace and defense.
The new facility, near the company’s global headquarters, will create supply chain resilience by adding internal complex machining capability – a key area of the supply base that is currently constrained – while establishing a more vertically integrated production system for the next generation of products including Assure advanced actuation systems and Attune vapor cycle cooling subsystems. Opening in late 2028, the advanced manufacturing facility will support customers’ growth on current programs, $15 billion in Control Systems new program wins, and the future of aviation. The expansion will also provide capacity growth to support priority production of critical defense technologies included in the supplier framework agreement the company signed with the Department of War in March.
Read more at Aero Morning
Ford Execs Stick to 2029 EV Breakeven Target
After Ford reported its third-quarter profits of nearly $2.1 billion on revenues of $49.5 billion, CEO Jim Farley and his team told analysts and investors that they are confident the midsized Fathom, which is being priced at about $28,000, can gain traction in an EV market where prices have risen of late. Ford is ramping up operations at its Louisville, Kentucky, plant, where COO Kumar Galhotra said teams have completed 90% of validation testing and cranked out 5,000 unicastings, which are a big part of the company’s strategy to lower costs by reducing vehicles’ number of parts.
Ford’s Model e group posted a loss of $1.1 billion before interest and taxes during the third quarter, which was an improvement from $1.4 billion in the same period of 2025 but slightly worse than Q2’s $919 million EBIT loss. Customers will be able to start pre-ordering Fathoms, the first vehicle to be built on Ford’s Universal EV platform, early next year but CFO Sherry House said Ford will still be investing heavily throughout 2027. Also calling for lots of capital—about $1.3 billion next year—is Ford Energy, the battery-storage venture housed inside Model e and building a 4 million-square-foot plant in Kentucky that will produce lithium iron phosphate systems. That, House said, means progress toward the 2029 breakeven target won’t be linear.
Read more at IndustryWeek
Manufacturers Gather to Build a Resilient Workforce
Nearly 300 manufacturers, educators and workforce partners from across the country convened in Indianapolis this week for the 2026 Workforce Summit, where they discussed practical solutions to manufacturing’s most pressing workforce challenges. Hosted annually by the Manufacturing Institute—the NAM’s 501(c)(3) workforce development and education affiliate—the summit is the premier event for manufacturing leaders focused on building and strengthening a resilient workforce.
- Eli Lilly spotlighted its work to support frontline workers’ success, using corporate communications, connection to the company’s purpose and accessible career development programs.
- GE Aerospace discussed how its Lifting Futures initiative and partnership with the MI’s Heroes MAKE America are providing pathways for transitioning service members to pursue manufacturing careers.
- 3M and GPS Education Partners talked about how they work with schools and colleges to build aligned, student-centered talent pathways.
- Schweitzer Engineering Laboratories shared its pull-based onboarding approach, which improves safety education, reduces ramp-up time and strengthens early engagement.
- The American Composites Manufacturers Association and Miles Fiberglass & Composites showcased their blended training model, which combines digital and in-person learning to improve onboarding and upskilling. Caterpillar Inc. discussed how it aligns strategic investments with local needs and workforce infrastructure.
- MI staff spotlighted the MI’s new AI Skills for Manufacturing Training Suite, which brings AI skills to the current and future workforce. Rheem Manufacturing then showed how AI can capture a plant floor’s institutional knowledge, helping train the broader workforce. McKinsey & Company also offered a practical roadmap for building an AI-ready workforce at scale.
Read more at TheNAM
Mitsubishi Power Plans $490 Million Manufacturing Facility Expansion In Georgia
Mitsubishi Power Americas plans to expand its manufacturing facility near Pooler, Ga. The company, which provides power generation solutions including gas, steam and aero-derivative turbines, power trains and environmental control systems, will invest $490 million in the project and create more than 220 new jobs. The expansion at Savannah Machinery Works, located at 1000 Pine Meadow Drive, will add 450,000 square feet to the existing facility. The additional space will be used to manufacture parts for gas turbines.
The company plans to hire workers for manufacturing, operations, heavy machinery and technician roles. The project is being supported by the Georgia Department of Economic Development, the Savannah Economic Development Authority, Georgia Power and Georgia Quick Start. Mitsubishi Power Americas CEO Bill Newsom said the investment will support the company's manufacturing capacity and workforce as demand for power increases. “Meeting the growing demand for power will require investment in facilities, in our supply chain, and in our workforce – which is what we’re building here at Savannah Machinery Works,” he said.
Read more at Plant Services
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