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

As of this morning, 227 (just over 45%) of the S&P 500 companies have reported earnings.

Here's how things stand:

  • Companies Exceeding Estimates: 138 or 61%
  • Companies Matching Estimates: 25 or 11%
  • Companies Falling Below Estimates: 64 or 28%

Compared to last earnings season, the breakdown is about the same with a small increase in companies missing vs. beating estimates. Financials lead the surprises to the upside. On a percentage basis, Comerica has had the biggest surprise to the upside followed by Northern Trust and Morgan Stanley. In absolute dollars, JP Morgan Chase leads with its $1.2 billion surprise followed by Morgan Stanley's $609 million surprise.

On the downside, Financials make a sweep of the 5 worst surprises. CIT leads the losers, reporting the biggest miss in that sector, off by 728%. In absolute dollars, Bank of America is the biggest loser with its $2.1 billion downside surprise. The good news so far, is the surprise losses are less than half the losses we saw last quarter when Merrill Lynch had a surprise of more than $4 billion.

Earnings Leaderboard - Biggest Losers (as of 10/27)

Rpt Date
EPS Est.
CIT Group CIT Financials 16-Oct 0.18 -1.13 -728%
Fifth Third Bancorp FITB Financials 21-Oct 0.18 -0.14 -178%
Key Corp KEY Financials 21-Oct 0.16 -0.10 -163%
Loews L Financials 27-Oct 0.66 -0.33 -150%
Allstate ALL Financials 22-Oct 0.72 -0.35 -149%
Thomson Reuters

Source:Thomson Reuters