14 companies beat earnings estimates, 6 missed, and 1 tied in the early stages of Q4 reporting. The average earnings surprise was 6.4%, exceeding street expectations. The beat rate of 81% is significantly above average and hasn't been this high since Q3 2023. Earnings have also come in 10.6% above expectations, marking a strong start to the quarter.
14 companies beat estimates, 6 missed, and 1 tied. The average “surprise factor” was 6.4%; meaning companies reported earnings an average of 6.4% higher than street expectations this week.
Altogether about 8% of S&P 500 companies have reported Q4 earnings so far. The beat rate is currently 81%, which is well above average and hasn’t been this high since Q3 2023. Earnings have come in 10.6% above expectations, which is also well above average and hasn’t been this good since Q3 2021. Total earnings growth for Q4 so far is +10.7%, on sales growth of +4.1%.
Forward EPS has jumped to a record $273.18 as we rolled into the next quarter/year, while trailing EPS is also a record $242.46.The forward price-to-earnings ratio based on Friday’s close is now 22x, which is still about 30% above the historical average for both trailing and forward EPSSolid start to Q4 so far, but still have a long way to go. The majority of the S&P 500 will report earnings in the next 2-3 weeks, so we’ll get a much better picture then.
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EARNINGS SURPRISE FACTOR S&P 500 Q4 REPORT FORWARD EPS
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