Sales: 866.322.8738Support: 877.322.8738
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To date, 81% of the companies in the S&P 500 have reported actual results for Q1 2018. In terms of earnings, more companies are reporting actual EPS above estimates (78%) compared to the five-year average. If 78% is the final percentage for the quarter, it will mark the highest percentage of S&P 500 companies reporting actual EPS above estimates since FactSet began tracking this metric in Q3 2008. In aggregate, companies are reporting earnings that are 7.9% above the estimates, which is also above the five-year average.

Earnings Above In Line and Below Estimates Q1

In terms of sales, more companies (77%) are reporting actual sales above estimates compared to the five-year average. If 77% is the final percentage for the quarter, it will mark a tie with the previous quarter (Q4 2017) for the highest percentage of S&P 500 companies reporting actual sales above estimates since FactSet began tracking this metric in Q3 2008. In aggregate, companies are reporting sales that are 1.3% above estimates, which is also above the five-year average.

Sector-Level Breakdown

The blended (combines actual results for companies that have reported and estimated results for companies that have yet to report) year-over-year earnings growth rate for the first quarter is 24.2% today, which is higher than the earnings growth rate of 23.2% last week. Positive earnings surprises reported by companies in multiple sectors (led by the Health Care and Information Technology sectors) were responsible for the increase in the earnings growth rate for the index during the past week. All 11 sectors are reporting year-over-year earnings growth. Nine sectors are reporting double-digit earnings growth, led by the Energy, Materials, Information Technology, and Financials sectors.

Earnings Growth Q1

The blended, year-over-year sales growth rate for the first quarter is 8.5% today, which is higher than the growth rate of 8.2% last week. Positive revenue surprises reported by companies in multiple sectors were responsible for the increase in the revenue growth rate for the index during the past week. All 11 sectors are reporting year-over-year growth in revenues. Five sectors are reporting double-digit growth in revenues, led by the Materials, Information Technology, and Energy sectors.

Looking at future quarters, analysts currently project earnings growth to continue at double-digit levels through 2018.

The forward 12-month P/E ratio is 16.0, which is below the five-year average but above the 10-year average.

During the upcoming week, 44 S&P 500 companies (including one Dow 30 component) are scheduled to report results for the first quarter.

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Senior Earnings Analyst
John’s weekly research report, Earnings Insight provides analysis and commentary on trends in corporate earnings data for the S&P 500, including revisions to estimates, year-over-year growth, performance relative to expectations, and valuations. He is a widely used source for the media and has appeared on CNBC, Fox Business News, and the Business News Network. In addition, he has been cited by numerous print and online publications such as The Wall Street Journal, Financial Times, The New York Times, MarketWatch, and Yahoo! Finance.

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