S&P 500 Earnings Leaderboard: Biggest Surprises Season to Date
As of this morning, 237 companies or nearly 50% of the S&P 500 have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 56%
- Companies Matching Estimates: 8%
- Companies Falling Below Estimates: 35%
Compared to a week ago when only 20% had reported, the breakdown has shifted with a larger increase in companies beating vs. missing estimates (see last week's review here). On a percentage basis, steel players Nucor and US Steel lead the list of upside surprises. In absolute dollars, healthcare and tech rule. Pfizer leads with its $405 million surprise followed by Apple's $347 million surprise. IBM and Merck are next in line with $336 and $275 million surprises respectively.
Earnings Leaderboard - Best Performers (as of 2/03)
On the downside, Financials continue to take all 5 of the 5 worst surprises. Fifth Third leads the losers, reporting the biggest miss in that sector, off by a whopping 38,000%. In absolute dollars, Citigroup leads with its $6.3 billion negative surprise followed by Regions Financial's $6.2 billion and Wells Fargo's $4.7 billion downside surprises.
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