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S&P 500 Earnings Leaderboard: Biggest Surprises Season to Date

Published: Monday, 19 Oct 2009 | 7:37 AM ET

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By: Ariel Nelson
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 Loading... () ] has had the biggest percent surprise to the upside followed by Jabil Circuit [JBL Loading... () ] and National Semiconductor [NSM Loading... () ]. In absolute dollars, financials sit atop the leaderboard. After Citigroup's [C Loading... () ] surprise of over $1.3 billion, JP Morgan Chase [JPM Loading... () ] and Goldman Sachs [GS Loading... () ] 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 Loading... () ] 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.

CONTINUED: Biggest revenue surprises to date

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Topics:Earnings | Stock Market