Today is the biggest earnings day of the season and as of this afternoon, just over 30% of the S&P 500 companies have reported earnings.
Here's how things stand so far:
- Companies Exceeding EPS Estimates: 78%
- Companies Matching EPS Estimates: 8%
- Companies Falling Below EPS Estimates: 14%
At the same point last quarter, 16% of the companies reporting had missed EPS estimates and 76% had beaten estimates.
Dow component, Caterpillar has had the biggest percent surprise to the upside followed by Sallie Mae and PNC Financial . In absolute dollars, financials sit atop the leaderboard. After Citigroup's surprise of over $1.3 billion, JP Morgan Chase and Wells Fargo follow with ~$1.2 billion and ~$900 million surprises.