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Director of Market Data & Content Services
As of this past Friday, just over 10% of the S&P 500 companies had reported earnings. This week we will see roughly 30% more of the S&P report.
Here's how things stand so far:
- Companies Exceeding Estimates: 79%
- Companies Matching Estimates: 11%
- Companies Falling Below Estimates: 10%
Compared to the start of last earnings season, the breakdown has shifted with a significantly larger increase in companies beating vs. missing estimates. At the same point last quarter, ~20% of the companies reporting had missed EPS estimates and just over 70% had beaten estimates. The trend is extending from Q1, when only 60% had beaten estimates at this stage of the season.
Monsanto [MON
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] has had the biggest percent surprise to the upside followed by Jabil Circuit [JBL
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] and National Semiconductor [NSM
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]. In absolute dollars, financials sit atop the leaderboard. After Citigroup's [C
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] surprise of over $1.3 billion, JP Morgan Chase [JPM
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] and Goldman Sachs [GS
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] follow with ~$1.2 billion and ~$500 million surprises.
Earnings Leaderboard - Best Performers (as of 10/16) |
| Company | Symbol | Sector | Date | EPS Est. | Actual | %Chg |
| Monsanto | MON | Materials | 10/7/2009 | 0.01 | 0.02 | 100% |
| Jabil Circuit | JBL | Tech | 9/29/2009 | 0.08 | 0.16 | 100% |
| National Semiconductor | NSM | Tech | 9/10/2009 | 0.07 | 0.13 | 86% |
| JP Morgan Chase | JPM | Financials | 10/14/2009 | 0.52 | 0.82 | 58% |
| Soutwest Airlines | LUV | Industrials | 10/15/2009 | 0.02 | 0.03 | 50% |
On the downside, Harley Davidson [HOG
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] leads the losers, reporting a -48% miss. In absolute dollars, Bank of America leads with its $433 million negative surprise.
Earnings Leaderboard - Biggest Losers (as of 10/16) |
| Company | Symbol | Sector | Rpt Date | EPS Est. | Actual | %Chg |
| Harley Davidson | HOG | Cons Disc | 10/15/2009 | 0.21 | 0.11 | -48% |
| Best Buy | BBY | Cons Disc | 9/15/2009 | 0.42 | 0.37 | -12% |
| Fastenal | FAST | Industrials | 10/12/2009 | 0.33 | 0.32 | -3% |
Many companies have improved their earnings by cutting costs. Investors are looking for topline growth as a sign that the economy has indeed turned the corner. Continue on to the next page to see the biggest revenue surprises to date as well.
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Data is a real-time snapshot *Data is delayed at least 15 minutes