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S&P 500 Industrials Sector SEC Filings — October 20, 2026

USA S&P 500 Industrials

By Gunpowder Editorial ·

14 high priority 3 medium priority 17 total filings analysed

Executive Summary

Across the 17 filings, the industrials complex delivered strong top-line momentum but uneven quality of earnings.

GE Aerospace (orders +49%, adjusted revenue +18%, FY26 adjusted EPS guide raised to $8.00-$8.10) and RTX (sales +11%, adjusted EPS +33%, guidance raised) led on growth, while Northrop Grumman (sales +6.7%, backlog $109.6B, book-to-bill 1.5x) showed durable defense demand despite margin compression to 11.4% operating margin. A recurring theme is that headline EPS growth was flattered by non-operating or one-time items: RTX's adjusted EPS included $0.25 of IEEPA recovery, 3M's GAAP EPS gain of 70% rested on a $0.60 Solventum stake gain, and GE's Corporate & Other costs widened to $(511)M from $(279)M on a $(210)M insurance loss. Cash conversion weakened sharply at RTX (operating cash flow -38%, free cash flow -47%) and GE Aerospace (free cash flow and operating cash flow each -14%) even as guidance was lifted. 3M's organic growth was only 0.2% with China sales down 7.3%, and Corporate revenue fell 67.6%. Insider activity across the Union Pacific and Uber filings was routine compensation-related withholding and awards, with no clear directional conviction signal. Overall, the sector is supported by strong order books and defense/aerospace demand, but investors should discount headline EPS and scrutinize cash generation.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: 8-K · 10-Q · Form 4

Tracking the trend? Catch up on the prior S&P 500 Industrials Sector SEC Filings digest from October 19, 2026.

Investment Signals (10)

  • GE Aerospace (BULLISH)
    ▲

    Total orders $19.0B (+49%), adjusted revenue +18%, adjusted EPS +36%, and FY26 adjusted EPS guidance raised to $8.00-$8.10 from $7.65-$7.85

  • RTX ↓ (BULLISH)
    ▲

    Sales +11% (12% organic), adjusted EPS +33%, and full-year outlook raised for sales, EPS, organic growth and FCF, though FCF fell 47% YoY to $2,119M

  • Northrop Grumman ↓ (BULLISH)
    ▲

    Backlog rose to $109.6B on $16.4B net awards (book-to-bill 1.5x) and FY26 guidance raised for segment operating income and MTM-adjusted EPS

  • GE Aerospace (BEARISH)
    ▲

    Nine-month revenue +20.3% to $39,859M and nine-month continuing EPS $6.44 vs $5.73, but nine-month segment margin fell to 27.2% from 28.5%

  • RTX ↓ (BEARISH)
    ▲

    Operating cash flow fell 38% to $2,868M and free cash flow fell 47% to $2,119M, despite ~$0.3B IEEPA recovery contribution

  • 3M ↓ (BEARISH)
    ▲

    Organic sales +0.2% in Q3 with China sales down 7.3% (organic -10.7%) and Corporate revenue down 67.6% to $96M; growth reliant on adjusted non-GAAP basis

  • 3M ↓ (BULLISH)
    ▲

    Management raised FY26 adjusted EPS guidance to $9.10-$9.15, but GAAP EPS growth of 70% was inflated by a $0.60 Solventum gain vs $0.13 prior year

  • Northrop Grumman ↓ (BEARISH)
    ▲

    Operating margin fell to 11.4% from 11.9% and Mission Systems margin to 15.8% from 16.7%; service sales -1.5% while G&A rose 10.0%

  • Uber Technologies ↓ (NEUTRAL)
    ▲

    Multiple executives (Macdonald, Krishnamurthy, West, Hazelbaker, Ceremony) had shares withheld for taxes and exercised/converted awards at $70.35; no open-market buying or selling detected, neutral signal

  • Union Pacific ↓ (NEUTRAL)
    ▲

    EVP Conlin, EVP Rocker and VP Powers received small routine equity awards at $278.34; routine compensation activity with no clear conviction signal

Risk Flags (9)

  • RTX/Cash Flow Quality↓ [HIGH RISK]
    ▼

    Operating cash flow -38% and free cash flow -47% YoY while adjusted EPS was flattered by $0.25 one-time IEEPA recovery; excluding it, growth is materially lower

  • RTX/Pratt & Whitney↓ [HIGH RISK]
    ▼

    Reported operating profit fell 19% due to a $363M customer bankruptcy charge, though adjusted operating profit rose 29%

  • GE Aerospace/Corporate Costs [HIGH RISK]
    ▼

    Corporate & Other operating cost widened to $(511)M in Q3 from $(279)M, driven by a $(210)M insurance loss vs a $361M profit a year earlier; insurance revenue -13.3% over nine months

  • GE Aerospace/Margin [MEDIUM RISK]
    ▼

    GAAP profit margin contracted 80 bps to 19.9%, Q3 segment margin slipped to 27.9% from 28.0%, and FCF fell 14% despite raised guidance

  • 3M/China Exposure↓ [HIGH RISK]
    ▼

    China/Hong Kong sales fell 7.4% YoY and Asia Pacific fell 6.5%, with China organic sales -10.7% in Q3

  • 3M/Earnings Quality↓ [MEDIUM RISK]
    ▼

    70% GAAP EPS growth relied on a $0.60 Solventum stake gain; new non-GAAP basis treats intangible amortization as a special item, lowering comparability

  • 3M/Consumer & Segments↓ [MEDIUM RISK]
    ▼

    Consumer organic sales -0.2% in Q3 and -1.2% YTD; Electronics -3.7% to $616M; nine-month divestiture losses of $343M vs $164M

  • Northrop Grumman/Cost Growth↓ [MEDIUM RISK]
    ▼

    G&A rose 10.0% to $1,083M vs sales +6.7%; Defense Systems margin fell to 10.8% from 11.4% on shift toward cost-type contracts

  • RTX/SG&A↓ [MEDIUM RISK]
    ▼

    SG&A expense rose 33.6% to $1,918M from $1,436M, and nine-month OCI swung to a $590M loss from a $1,323M gain

Opportunities (7)

  • GE Aerospace/Orders Momentum (OPPORTUNITY)
    ◆

    Orders +49% to $19.0B with guidance raised across adjusted revenue, operating profit, adjusted EPS and FCF ($9.1-$9.4B); a strong setup if cash conversion recovers

  • Northrop Grumman/Backlog Visibility↓ (OPPORTUNITY)
    ◆

    $109.6B backlog and 1.5x book-to-bill provide multi-year revenue visibility; guidance raised, with margin recovery as the key catalyst

  • RTX/Pratt & Whitney Normalization↓ (OPPORTUNITY)
    ◆

    Adjusted operating profit +29% despite the $363M bankruptcy charge; if the charge is non-recurring, reported earnings should normalize in coming quarters

  • 3M/Adjusted Earnings Guidance↓ (OPPORTUNITY)
    ◆

    FY26 adjusted EPS guidance raised to $9.10-$9.15 with adjusted organic growth of 3.3% in Q3; Fire Safety and Rescue (+90.7%) and Electrical Markets (+13.4%) show growth pockets

  • 3M/Portfolio Reshaping↓ (OPPORTUNITY)
    ◆

    Corporate sales collapse and divestiture activity suggest a cleaner portfolio post-Solventum, with potential re-rating if organic growth broadens beyond Consumer and China drag

  • GE Aerospace/Insurance Normalization (OPPORTUNITY)
    ◆

    Insurance revenue decline and the $(210)M loss are one-time in nature relative to the prior-year $361M profit; separation costs improved to $(93)M from $(150)M, supporting cleaner earnings ahead

  • Northrop Grumman/Net Earnings Growth↓ (OPPORTUNITY)
    ◆

    Nine-month net earnings +12.3% to $3,093M, showing bottom-line momentum despite the margin compression in individual segments

Sector Themes (6)

  • Growth Strong, Cash Conversion Weak (HIGH IMPLICATION)
    ◆

    Among the large aerospace names, RTX (OCF -38%, FCF -47%) and GE Aerospace (OCF and FCF each -14%) both saw cash generation fall while reported sales grew 11-16%; working capital and timing issues are a sector-wide watch item

  • Adjusted vs. GAAP Divergence (HIGH IMPLICATION)
    ◆

    Three of the filings (3M, RTX, GE Aerospace) rely heavily on adjusted metrics, with one-time gains (Solventum stake, IEEPA recovery) or special-item treatment widening the gap versus GAAP results; investors should anchor on cash flow and GAAP-adjusted reconciliations

  • Defense Demand Robust, Margins Under Pressure (MEDIUM IMPLICATION)
    ◆

    Northrop's backlog build (1.5x book-to-bill) and RTX/GE raised guidance point to healthy demand, yet operating margins compressed at Northrop (11.4% vs 11.9%), Defense Systems (10.8% vs 11.4%) and GE (segment margin 27.9%), driven by cost-type contract mix and cost growth

  • Guidance Raises Are the Norm (MEDIUM IMPLICATION)
    ◆

    GE Aerospace, RTX and Northrop Grumman and 3M all raised FY26 guidance in the period, 4 of the 4 large-cap issuers reporting guidance updates, suggesting broad confidence in the back half of 2026

  • China and Asia Exposure as Drag (MEDIUM IMPLICATION)
    ◆

    3M's China sales -7.4% and Asia Pacific -6.5% reflect a regional headwind that could affect other diversified industrials with China exposure

  • Routine Insider Activity, No Clear Signal (LOW IMPLICATION)
    ◆

    Across Union Pacific and Uber insider filings, activity was dominated by tax withholding and routine equity awards with no open-market buying or selling, suggesting neutral management sentiment in the period

Watch List (7)

  • RTX/Cash Flow Recovery↓
    👁

    Monitor whether operating and free cash flow rebound after the -38%/-47% decline; next quarterly filing and any update on IEEPA recovery timing [Next quarterly report]

  • GE Aerospace/Insurance & Corporate Costs
    👁

    Track whether the $(210)M insurance loss is non-recurring and whether Corporate & Other costs normalize from $(511)M in Q3 [Next quarterly report]

  • 3M/China Sales↓
    👁

    Watch for further China/Hong Kong weakness (-7.4% YoY) and whether the adjusted EPS guidance of $9.10-$9.15 holds given organic growth of only 0.2% [Next quarterly report]

  • Northrop Grumman/Margin Trajectory↓
    👁

    Monitor segment margin recovery from 12.1% and Defense Systems margin from 10.8%, plus G&A growth (+10.0%) versus sales (+6.7%) [Next quarterly report]

  • GE Aerospace/FY26 Guidance Delivery
    👁

    Track progress toward raised adjusted EPS guidance of $8.00-$8.10 and FCF guidance of $9.1-$9.4B, given the Q3 FCF decline [Next quarterly report]

  • Uber/Executive Equity Activity↓
    👁

    Monitor for any shift from tax-withholding and award activity to open-market sales or purchases by the executive group (Macdonald, Krishnamurthy, West, Hazelbaker, Ceremony) [Ongoing]

  • Union Pacific/Insider Awards↓
    👁

    Routine awards at $278.34; monitor subsequent Form 4 filings for any change from compensation-related activity [Ongoing]

Filing Analyses (17)
NORTHROP GRUMMAN CORP /DE/ 8-K mixed materiality 8/10

20-10-2026

Northrop Grumman reported third quarter 2026 sales up 7 percent to $11.1 billion, with net earnings of $1.1 billion and diluted EPS of $7.89 versus $7.67 a year earlier. Backlog rose to $109.6 billion on $16.4 billion of net awards (book-to-bill of 1.5x), and the company raised its 2026 guidance for segment operating income and MTM-adjusted EPS. Performance was mixed: operating margin fell to 11.4 percent from 11.9 percent, segment operating margin fell to 12.1 percent from 12.3 percent, Defense Systems and Mission Systems operating income declined, and Mission Systems and Defense Systems margins compressed year over year.

  • · Mission Systems operating margin rate fell to 15.8% from 16.7%, partly due to a prior-year $68M favorable EAC adjustment in restricted advanced microelectronics
  • · Defense Systems operating margin rate fell to 10.8% from 11.4%, driven by a shift toward more cost-type contract content; Defense Systems organic sales were not affected by training services
  • · Defense Systems and Space Systems lower armament/ammunition volume and Commercial Resupply Service sales (-$136M) were partial offsets
  • · Effective tax rate declined to 13.4% from 16.9%, supported by higher research credits
  • · Nine-month operating income rose 4% but unallocated corporate expense increased sharply to $250M from $17M, and nine-month Defense Systems operating income fell 11%
  • · Nine-month Space Systems operating income declined 9% and Aeronautics Systems nine-month operating income rose 136%
  • · Q3 operating cash flow benefited from improved trade working capital and a one-time $371M equipment sale proceeds to a customer, which flatter adjusted free cash flow
  • · Guidance raised: segment operating income midpoint up $65M, MTM-adjusted EPS midpoint up $0.70; Aeronautics Systems margin guidance updated to high 9% from mid-to-high 9%
3M CO 8-K mixed materiality 8/10

20-10-2026

3M reported Q3 2026 GAAP net sales of $6,584 million, up 1.0% YoY, with organic sales up only 0.2%, while adjusted sales rose 4.2% to $6.6 billion (adjusted organic growth 3.3%). GAAP EPS rose to $2.63 from $1.55 (up 70%), driven largely by a $0.60 gain on the Solventum stake versus a $0.13 gain a year earlier, while adjusted EPS of $2.50 grew 12% YoY on a new non-GAAP basis that treats intangible amortization as a special item. Management raised full-year 2026 adjusted EPS guidance to $9.10–$9.15 but notes China sales fell 7.3% in the quarter and organic growth was flat for the company overall.

  • · China sales fell 7.3% YoY in Q3 (organic -10.7%), and Other Asia fell 5.8%, weighing on geographic performance.
  • · Q3 GAAP EPS growth of 70% was inflated by a $0.60 Solventum ownership value gain versus a $0.13 gain in the prior year; adjusted EPS grew 12%.
  • · Consumer segment organic sales declined 0.2% in Q3 and 1.2% year-to-date.
  • · Europe, Middle East and Africa organic sales declined 2.8% in Q3 and 1.2% year-to-date.
  • · Nine-month GAAP operating income rose only 2.8% to $3,939M, and nine-month organic sales growth was just 0.4%.
  • · Q3 operating cash flow was $0.5 billion; adjusted free cash flow was $1.2 billion, and 3M returned $0.6 billion to shareholders in the quarter.
  • · Share count fell about 2.6% since year-end 2025 to 516.7 million shares outstanding, supported by buybacks.
  • · A non-controlling interest investment of $1,277M in the nine months created $971M of redeemable noncontrolling interest on the balance sheet.
  • · Total debt rose to about $15.0 billion (short-term $2,439M plus long-term $12,558M) from about $12.6 billion at year-end 2025, funding acquisitions and shareholder returns.
  • · Amazon warrant for up to 3.2 million shares vests on achieving $6 billion in cumulative Data Center sales over seven years.
  • · 3M is investing to acquire approximately 4.7% of GSEO's common shares.
  • · Reporting change: intangible amortization and business acquisition costs are now Corporate special items; the company states the change adds ~40 bps to base Q3 adjusted operating margin and ~$0.04 to adjusted EPS.
GENERAL ELECTRIC CO 8-K mixed materiality 8/10

20-10-2026

GE Aerospace reported Q3 2026 total orders of $19.0B (+49%), GAAP revenue of $14.1B (+16%) and adjusted revenue of $13.3B (+18%), with GAAP EPS of $2.32 (+14%) and adjusted EPS of $2.25 (+36%). Operating profit rose 30% to $3.0B, though GAAP profit margin contracted 80 bps to 19.9% and free cash flow and operating cash flow each declined 14%. Management raised full-year 2026 guidance across adjusted revenue, operating profit, adjusted EPS and free cash flow, while the Defense & Propulsion Technologies segment's growth was more modest at 7% revenue growth.

  • · Full-year 2026 adjusted EPS guidance raised to $8.00-$8.10 from $7.65-$7.85
  • · Full-year 2026 free cash flow guidance raised to $9.1-$9.4B from $8.9-$9.2B
  • · Full-year 2026 adjusted revenue growth guidance is ~19-20%, down from the prior high-teens-to-~21% reference shown in the filing table, which the filing labels 'High-teens' prior guide
  • · CES 2026 revenue growth now expected in the low-20s; operating profit guidance raised to $10.5-$10.6B from $10.25-$10.35B
  • · DPT operating profit guidance unchanged at $1.6-$1.7B; DPT revenue growth still expected in low-double digits
  • · Year-to-date commercial services revenue and total engine deliveries both up over 20%; LEAP deliveries up 26% YTD
  • · Q3 GAAP profit margin contracted 80 bps to 19.9%, reflecting mix and inflation pressure in CES, while CES margins contracted 10 bps
  • · Corporate & Other revenue fell 25% in Q3, and insurance profit swung to a $(210)M loss from $361M a year earlier
  • · GE9X engine revenue impact deferred until midseal certification is complete
  • · CPP acquisition agreement announced to expand castings capacity
GENERAL ELECTRIC CO 10-Q mixed materiality 8/10

20-10-2026

GE Aerospace reported Q3 2026 total revenue of $14,118 Million, up 15.9% from $12,181 Million a year earlier, and continuing EPS of $2.32 versus $2.04 (+13.7%). Nine-month revenue rose to $39,859 Million (+20.3%) and nine-month continuing EPS reached $6.44 versus $5.73. However, Q3 segment profit margin slipped to 27.9% from 28.0%, nine-month segment margin fell to 27.2% from 28.5%, and Corporate & Other operating cost widened to $(511) Million from $(279) Million in the quarter.

  • · Corporate & Other operating cost widened to $(511) Million in Q3 2026 from $(279) Million, driven by a $(210) Million insurance loss versus a $361 Million profit a year earlier
  • · Insurance revenue declined 4.8% in Q3 and 13.3% over nine months ($2,326 Million vs. $2,681 Million)
  • · Separation costs were $(93) Million over nine months versus $(150) Million in the prior-year period, a relative improvement
  • · Gains on retained and sold ownership interests swung to a $(127) Million nine-month loss from an $18 Million gain a year earlier
  • · Nine-month Corporate & Other revenue fell 46.3% to $741 Million from $1,381 Million
  • · Nine-month net cash from operating activities was affected by a $(100) Million 'All other operating activities' outflow versus a $180 Million inflow in the prior year
  • · Defense & Systems and P&AT margin improved modestly to 13.7% in Q3 from 13.5%, while nine-month margin was flat at 13.1%
RTX Corp 8-K mixed materiality 9/10

20-10-2026

RTX reported Q3 2026 sales of $24,965 million, up 11% year over year (12% organically), and adjusted EPS of $2.26, up 33%, including $0.25 from IEEPA cost recovery. Free cash flow fell 47% to $2,119 million and operating cash flow fell 38% to $2,868 million, while GAAP EPS of $1.89 was up 34%. The company raised its full-year 2026 outlook for adjusted sales, adjusted EPS, organic growth, and free cash flow, though Pratt & Whitney reported operating profit down 19% on a reported basis due to a $363 million customer bankruptcy charge.

  • · Operating cash flow fell 38% and free cash flow fell 47% YoY, despite the ~$0.3B IEEPA recovery contribution to operating cash flow
  • · Pratt & Whitney's reported operating profit fell 19% due to a $363M customer bankruptcy charge; adjusted operating profit rose 29%
  • · Adjusted EPS growth was partly flattered by $0.25 of one-time IEEPA recovery; excluding it, growth is materially lower
  • · Pratt & Whitney commercial OE sales declined 5% on large commercial engine mix
  • · Collins Aerospace reported operating profit growth of 42% was boosted by a prior-year gain on the sale of the actuation and flight control business; adjusted operating profit growth of 50% includes ~$250M of IEEPA recovery
  • · Raytheon's Q3 productivity included ~$85M of one-time benefits from an international contract modification and an offset adjustment
  • · Lower pension income and higher taxes partially offset adjusted net income growth
UNION PACIFIC CORP 4 neutral materiality 3/10

20-10-2026

EVP CHIEF LEGAL OFFICER & CORP Conlin Christina B was awarded 2.281 Common Stock at $278.34 (~$635). Conlin Christina B holds 16,016.155 shares after the transaction.

  • · EVP CHIEF LEGAL OFFICER & CORP Conlin Christina B was awarded 2.281 Common Stock at $278.34 (~$635)
UNION PACIFIC CORP 4 neutral materiality 2/10

20-10-2026

EVP MARKETING & SALES Rocker Kenyatta G was awarded 2.673 Common Stock at $278.34 (~$744). Rocker Kenyatta G holds 1,315.8227 shares after the transaction.

  • · EVP MARKETING & SALES Rocker Kenyatta G was awarded 2.673 Common Stock at $278.34 (~$744)
UNION PACIFIC CORP 4 neutral materiality 2/10

20-10-2026

VP & CONTROLLER Powers Carrie J was awarded 5.676 Common Stock at $278.34 (~$1.58K). Powers Carrie J holds 8,152.514 shares after the transaction.

  • · VP & CONTROLLER Powers Carrie J was awarded 5.676 Common Stock at $278.34 (~$1.58K)
3M CO 10-Q mixed materiality 8/10

20-10-2026

3M reported Q3 2026 net sales of $6,584 Million, up 1.0% YoY from $6,517 Million, and diluted EPS of $2.63 versus $1.55 a year ago, helped by a $300 Million swing in other income/expense and lower operating-expense drag from the prior-year divestiture loss. Performance was mixed: SG&A rose 12.3% YoY to $921 Million, Asia Pacific sales fell 6.5% YoY, China/Hong Kong sales fell 7.4% YoY, and Corporate revenue dropped 67.6% YoY to $96 Million, while Fire Safety and Rescue (+90.7%) and Electrical Markets (+13.4%) grew strongly.

  • · Corporate segment sales fell $200 Million (67.6%) YoY to $96 Million, a major drag on total sales growth
  • · Electronics sales declined 3.7% YoY to $616 Million, while Abrasives fell 2.1% to $326 Million
  • · Nine-month loss on business divestitures was $343 Million versus $164 Million in the prior-year period
  • · Cash and cash equivalents fell to $4,835 Million from $5,235 Million at year-end 2025, while long-term debt rose to $12,558 Million from $10,932 Million
  • · Total equity declined to $4,169 Million from $4,747 Million, with 3M shareholders' equity down to $4,127 Million from $4,702 Million
  • · Nine-month net cash from operations improved to $2,046 Million from $723 Million, supported by lower other-net operating outflows
NORTHROP GRUMMAN CORP /DE/ 10-Q mixed materiality 7/10

20-10-2026

Northrop Grumman reported Q3 2026 total sales of $11,122 Million, up 6.7% from $10,423 Million in Q3 2025, and net earnings of $1,124 Million (diluted EPS $7.89) versus $1,100 Million ($7.67) a year earlier. Growth was driven by product sales (+8.7%), while service sales were flat to slightly down (-1.5%), and general and administrative expenses rose 10.0%, partially offsetting operating gains. Nine-month net earnings rose 12.3% to $3,093 Million, but cash from operations, cash balance, and buybacks show a mixed liquidity picture.

  • · Service sales declined 1.5% in Q3 and 1.3% over nine months, lagging product sales growth.
  • · General and administrative expenses rose 10.0% in Q3 (to $1083 Million from $985 Million), outpacing sales growth.
  • · Q3 other, net income fell 81% to $20 Million from $106 Million, and nine-month other, net fell 29% to $124 Million from $175 Million.
  • · Cash and cash equivalents declined 15.0% from year-end 2025 to $3744 Million, and fell 21.2% from the $4753 Million level implied by the operating and financing cash flow decline; net cash decreased $659 Million over nine months.
  • · Share repurchases dropped sharply to $68 Million in nine months from $1168 Million, while cash dividends paid rose to $1035 Million from $964 Million.
  • · Long-term debt declined to $14433 Million from $15162 Million as $527 Million was repaid, with no new issuance in 2026.
  • · Nine-month 2025 results included a $231 Million gain on sale of a business and a $477 Million B-21 loss provision; neither recurred in 2026, so the nine-month earnings growth is not fully comparable.
  • · Working capital outflows were significant: unbilled receivables rose $1177 Million and other liabilities fell $868 Million in nine months, weighing on operating cash flow quality.
  • · Q3 effective tax rate fell to 13.4% from 16.9%, supporting net earnings growth despite flat pre-tax earnings (1298 vs 1323, down 1.9%).
RTX Corp 10-Q mixed materiality 8/10

20-10-2026

RTX Corp reported Q3 2026 total net sales of $24,965 million, up 11.1% YoY from $22,478 million, and net income attributable to common shareowners of $2,583 million, up 34.7% from $1,918 million. Diluted EPS rose to $1.89 from $1.41. However, SG&A expense rose sharply to $1,918 million from $1,436 million (+33.6%), and comprehensive income attributable to common shareowners was supported by a modest $1 million net OCI gain for the quarter, while nine-month OCI swung to a $590 million loss from a $1,323 million gain a year earlier.

  • · Net income for Q3 2026 was $2708 Million versus $2006 Million in Q3 2025, up 35.0%.
  • · Interest expense, net declined to $381 Million in Q3 2026 from $449 Million, down 15.1%.
  • · Income tax expense rose to $593 Million from $432 Million, up 37.3%.
  • · Services sales grew 8.0% YoY in Q3 2026, while products sales grew 12.3% YoY to $18,258 Million from $16,264 Million.
  • · Cost of sales for products rose to $14,484 Million from $13,593 Million, up 6.6%, slightly below products sales growth.
  • · Dividends paid rose to $2882 Million for nine months 2026 from $2660 Million, up 8.3%.
  • · Customer relationship intangibles and total goodwill declined modestly, with goodwill at $52,969 Million versus $53,343 Million at year-end 2025.
  • · Contract liabilities declined to $21,550 Million from $21,615 Million at year-end 2025, and nine-month contract liabilities cash flow turned negative at $(688) Million versus a $1,329 Million inflow in 2025.
  • · Repurchase of common stock was zero in nine months 2026 versus $50 Million in 2025.
  • · Other financing activities used $677 Million in nine months 2026 versus $333 Million in 2025.
Uber Technologies, Inc 4 neutral materiality 5/10

20-10-2026

See Remarks Macdonald Andrew had withheld for taxes 2,259 Common Stock at $70.35 (~$159K). 12 transactions reported in total. Macdonald Andrew holds 435,287 shares after the transaction.

  • · See Remarks Macdonald Andrew exercised/converted 1,133 Common Stock
  • · See Remarks Macdonald Andrew exercised/converted 2,473 Common Stock
  • · See Remarks Macdonald Andrew exercised/converted 2,520 Common Stock
  • · See Remarks Macdonald Andrew exercised/converted 4,042 Common Stock
  • · See Remarks Macdonald Andrew had withheld for taxes 634 Common Stock at $70.35 (~$44.6K)
  • · See Remarks Macdonald Andrew had withheld for taxes 1,382 Common Stock at $70.35 (~$97.2K)
  • · See Remarks Macdonald Andrew had withheld for taxes 1,409 Common Stock at $70.35 (~$99.1K)
  • · See Remarks Macdonald Andrew had withheld for taxes 2,259 Common Stock at $70.35 (~$159K)
Uber Technologies, Inc 4 neutral materiality 4/10

20-10-2026

Chief Financial Officer Krishnamurthy Balaji (A) had withheld for taxes 607 Common Stock at $70.35 (~$42.7K). 18 transactions reported in total. Krishnamurthy Balaji (A) holds 45,701 shares after the transaction.

  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 566 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 885 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 687 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 490 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 1,158 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) exercised/converted 606 Common Stock
  • · Chief Financial Officer Krishnamurthy Balaji (A) had withheld for taxes 281 Common Stock at $70.35 (~$19.8K)
  • · Chief Financial Officer Krishnamurthy Balaji (A) had withheld for taxes 439 Common Stock at $70.35 (~$30.9K)
Uber Technologies, Inc 4 neutral materiality 3/10

20-10-2026

See Remarks West Tony had withheld for taxes 1,443 Common Stock at $70.35 (~$102K). 12 transactions reported in total. West Tony holds 262,124 shares after the transaction.

  • · See Remarks West Tony exercised/converted 1,510 Common Stock
  • · See Remarks West Tony exercised/converted 1,282 Common Stock
  • · See Remarks West Tony exercised/converted 1,493 Common Stock
  • · See Remarks West Tony exercised/converted 2,910 Common Stock
  • · See Remarks West Tony had withheld for taxes 749 Common Stock at $70.35 (~$52.7K)
  • · See Remarks West Tony had withheld for taxes 636 Common Stock at $70.35 (~$44.7K)
  • · See Remarks West Tony had withheld for taxes 741 Common Stock at $70.35 (~$52.1K)
  • · See Remarks West Tony had withheld for taxes 1,443 Common Stock at $70.35 (~$102K)
Uber Technologies, Inc 4 neutral materiality 5/10

20-10-2026

Director THAIN JOHN A exercised/converted 350 Common Stock. THAIN JOHN A holds 187,575 shares after the transaction.

  • · Director THAIN JOHN A exercised/converted 350 Common Stock
  • · Director THAIN JOHN A exercised/converted 350 Restricted Stock Units
Uber Technologies, Inc 4 neutral materiality 5/10

20-10-2026

See Remarks Hazelbaker Jill had withheld for taxes 1,311 Common Stock at $70.35 (~$92.2K). 18 transactions reported in total. Hazelbaker Jill holds 158,593 shares after the transaction.

  • · See Remarks Hazelbaker Jill exercised/converted 351 Common Stock
  • · See Remarks Hazelbaker Jill exercised/converted 1,416 Common Stock
  • · See Remarks Hazelbaker Jill exercised/converted 1,889 Common Stock
  • · See Remarks Hazelbaker Jill exercised/converted 1,465 Common Stock
  • · See Remarks Hazelbaker Jill exercised/converted 1,493 Common Stock
  • · See Remarks Hazelbaker Jill exercised/converted 2,546 Common Stock
  • · See Remarks Hazelbaker Jill had withheld for taxes 176 Common Stock at $70.35 (~$12.4K)
  • · See Remarks Hazelbaker Jill had withheld for taxes 710 Common Stock at $70.35 (~$49.9K)
Uber Technologies, Inc 4 neutral materiality 3/10

20-10-2026

See Remarks Ceremony Glen had withheld for taxes 752 Common Stock at $70.35 (~$52.9K). 12 transactions reported in total. Ceremony Glen holds 269,955 shares after the transaction.

  • · See Remarks Ceremony Glen exercised/converted 708 Common Stock
  • · See Remarks Ceremony Glen exercised/converted 687 Common Stock
  • · See Remarks Ceremony Glen exercised/converted 700 Common Stock
  • · See Remarks Ceremony Glen exercised/converted 1,516 Common Stock
  • · See Remarks Ceremony Glen had withheld for taxes 352 Common Stock at $70.35 (~$24.8K)
  • · See Remarks Ceremony Glen had withheld for taxes 341 Common Stock at $70.35 (~$24K)
  • · See Remarks Ceremony Glen had withheld for taxes 348 Common Stock at $70.35 (~$24.5K)
  • · See Remarks Ceremony Glen had withheld for taxes 752 Common Stock at $70.35 (~$52.9K)

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