Dow Jones Faces Big Week As Four Heavyweights Report Earnings

By Chris Katje | January 20, 2026, 3:30 PM

Earnings season is picking up steam as some of the market's biggest publicly traded companies report quarterly financial results this week and into the weeks ahead. This week’s lineup features 35 S&P 500 names and four members of the Dow Jones Industrial Average.

Here's a look at the four Dow Jones Industrial Average companies reporting earnings this week and how it could impact the SPDR Dow Jones Industrial Average ETF (NYSE:DIA) and other ETFs that track the key market index.

4 Dow Jones Industrial Average Companies Report Earnings

Below are the Dow Jones Industrial Average names reporting this week:

  • 3M Company (NYSE:MMM): Q4 earnings Tuesday before market open
  • Johnson & Johnson (NYSE:JNJ): Q4 earnings Wednesday before market open
  • The Travelers Companies (NYSE:TRV): Q4 earnings Wednesday before market open
  • Procter & Gamble (NYSE:PG): Q2 earnings Thursday before market open

Together, the four companies make up 10% of the DIA ETF, with the following weightings as of Tuesday:

  • TRV: 13th largest weighting, 3.36%
  • JNJ: 19th largest weighting, 2.73%
  • MMM: 21st largest weighting, 2.09%
  • PG: 23rd largest weighting, 1.80%

The 10% combined weighting would represent the second largest holding in the ETF if they were one stock, trailing only Goldman Sachs (12.0%).

3M Company Stock Falls On Q4 Results

3M Company was the first of the four companies to release earnings, reporting results Tuesday morning. The company missed analyst expectations for revenue and beat earnings per share estimates, according to data from Benzinga Pro.

It has now beaten EPS estimates for more than 10 straight quarters. This marked the company's first revenue miss after seven straight quarterly beats.

3M's quarterly results saw several business segments post year-over-year revenue growth, while the consumer division saw a 1.2% decline. CEO William Brown said the company's innovation and execution will help outperform the macro environment in 2026.

The company’s stock is down 7.8% to $155.84 on Tuesday versus a 52-week trading range of $121.98 to $174.69. The shares are up 5.4% over the last 52 weeks.

Johnson & Johnson Q4 Preview

Analysts have been raising their price targets on Johnson & Johnson stock ahead of its quarterly results release. They expect the company to report EPS of $2.48, up from $2.04 in last year's fourth quarter, and revenue of $24.15 billion, up from $22.52 billion in the year-earlier period.

Johnson & Johnson has beaten analyst estimates for EPS in more than 10 straight quarters and beaten revenue estimates in six straight quarters and in nine of the last 10 quarters overall.

The company's financial results could show how it plans to avoid declining revenue from some of its top drugs facing patent expirations. Recent acquisitions and new drugs could be highlighted as ways the company is moving on from some of its former top revenue drivers.

Johnson & Johnson stock trades near all-time highs with shares at $217.89 on Tuesday versus a 52-week trading range of $141.50 to $220.11. The stock is up 47.1% over the last 52 weeks.

Travelers Q4 Preview

Insurance firm Travelers goes for a sixth straight double beat with Wednesday's quarterly results.

Analysts expect the company to report EPS of $8.60 and revenue of $11.65 billion, with both figures down from last year's fourth quarter totals of $9.15 and $12.01 billion, respectively.

Travelers has beaten analyst estimates for revenue in five straight quarters and in nine of the last 10 quarters overall. It has exceeded estimates for EPS in six straight quarters and in seven of the last 10 quarters overall.

Analysts have mostly raised their price targets for the stock ahead of the earnings report.

Travelers shares trade at $270.57 versus a 52-week trading range of $230.42 to $296.85. The stock is up 13.1% over the last 52 weeks.  

Procter & Gamble Q2 Preview

Consumer goods giant Procter & Gamble reports last of the four Dow Jones stocks this week, but could be the most important name to watch as results and commentary could show consumer shopping trends and health.

Analysts expect EPS of $1.87, down from $1.88 in last year's second quarter and revenue of $22.27 billion, up from $21.88 billion. The company has topped estimates for revenue in two straight quarters and in six of the last 11 quarters overall, and those for EPS in 11 straight quarters.

Analysts have been lowering their price targets on Procter & Gamble shares ahead of the quarterly results, which could provide an opportunity for upside with a strong quarter and guidance.

Shares trade at $146.72 on Tuesday versus a 52-week trading range of $137.62 to $179.99. The stock is down 9.3% over the last 52 weeks.

Dow Jones Industrial Average ETF (DIA) Impact

The earnings from the four companies this week will likely make ETFs like DIA volatile. Last week saw the largest holding Goldman Sachs report quarterly results.

DIA stock trades at $484.45 at the time of writing, versus a 52-week trading range of $366.33 to $496.34. The ETF is up 10.8% over the past 52 weeks, which comes after a gain of around 13% in 2025.

The ETF and index need some strong numbers from components to help boost the price during this earnings season.

Image: Shutterstock

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