Biggest Q3 Earnings Surprises
So far this earnings season, 123 companies in the S&P 500 index have reported results. Of those firms, 60 percent beat their estimates, 13 percent matched, and 27 percent missed.
Since 1994, in a typical quarter 62 percent of companies beat estimates, 18 percent match and 20 percent miss estimates, according to figures compiled by Thomson Reuters.
The current earnings surprise factor stands at -4.5 percent, while revenue is 0.3 percent.
In fact, revenue has been anemic, with 61 percent of companies missing analysts' expectations. In a typical quarter since 2000, 62 percent of companies beat, while 38 percent miss estimates.
EPS growth has also been mediocre. Compared to the same period a year ago, consumer discretionary and financial companies have taken the lead, showing EPS growth of 8 percent and 5 percent, respectively.
The biggest surprise factor came from the S&P discretionary and staples sectors.
Sector Growth Rate
In terms of earnings per share, ETrade Financial had the largest percent surprise, followed by Peabody Energy.
Top 5 Surprises
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To the downside, First Horizon National had the largest percent miss in earnings per share, followed by Kinder Morgan.