Earnings Season Update – February 1, 2019

To date, 46% of the companies in the S&P 500 have reported actual results for Q4 2018

 

In terms of earnings, the percentage of companies reporting actual EPS above estimates (70%) is below the five-year average. In aggregate, companies are reporting earnings that are 3.5% above the estimates, which is also below the five-year average. In terms of revenues, the percentage of companies reporting actual revenues above estimates (62%) is above the five-year average. In aggregate, companies are reporting revenues that are 0.8% above the estimates, which is also above the five-year average.

 

Looking at future quarters, analysts predict a decline in earnings for the first quarter of 2019 and low single-digit growth in earnings for the second and third quarters of 2019.The forward 12-month P/E ratio is 15.7, which is below the five-year average but above the 10-year average.

 

During the upcoming week, 103 S&P 500 companies (including one Dow 30 component) are scheduled to report results for the fourth quarter.

 

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