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Several expansive companies are expected to post stellar quarterly growth when they report Q4 earnings on Wednesday, January 24.

Having a dominant presence in their respective markets here are a few top-rated Zacks stocks to consider as their quarterly results approach.

The Progressive (PGR): Home and auto insurance giant Progressive shouldn’t be overlooked ahead of its Q4 results with earnings projected to soar 58% to $2.38 per share versus $1.50 a share in the comparative quarter. Fourth-quarter sales are expected to climb 19% to $16.1 billion. Plus, anticipation of high double-digit percentage growth on Progressive’s annual top and bottom lines is expected to continue in fiscal 2024.

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Investors will want to take notice of Progressive’s Q4 results and guidance as PGR shares have risen +35% over the last year but still trade at a reasonable 20.4X forward earnings multiple considering the insurance leaders' very expansive growth.

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United Rentals (URI): Higher construction-related activities continue to boost United Rentals as well which is the largest equipment rental company in the world.

United Rentals' Q4 earnings are projected to rise 11% to $10.85 a share with sales forecasted to be up 10% to $3.63 billion. United Rentals is now expected to round out FY23 with EPS up 24% to a whopping $40.40 per share and total sales projections of $14.23 billion would be a 22% increase from $11.64 billion in 2022. The possibility of positive guidance looks likely with FY24 EPS and sales projected to rise another 7% and 3% respectively.

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Many eyes will be on United Rentals' Q4 report as URI shares have rallied +47% over the last year and still trade at 13.1X forward earnings which is a slight discount to the Zacks Building Products-Miscellaneous industry average of 16.3X.

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Other Stocks to Watch

International Business Machines (IBM) and Abbott Laboratories (ABT) are two other companies to keep an eye on in regard to Wednesday's earnings lineup. Both have a market edge as it relates to computer and healthcare products respectively with sound quarterly growth expected. Notably, Abbott’s stock is virtually flat over the last year while IBM shares have risen +22%.

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