As of this morning, roughly 90% of the S&P 500 companies have reported earnings.
Here's how things stand:
- Companies Exceeding Estimates: 58%
- Companies Matching Estimates: 10%
- Companies Falling Below Estimates: 31%
Compared to last earnings season, the breakdown has shifted slightly 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. In absolute dollars, JP Morgan Chase and Chevron lead with their $1.2 billion surprise followed by Exxon Mobil's $987 million surprise.