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Globe editors have posted this research report with permission of Thomson Reuters I/B/E/S. This should not be construed as an endorsement of the report’s recommendations. For more on The Globe’s disclaimers please read here. The following is excerpted from the report:

Earnings highlights

The Q3 2018 Y/Y blended earnings growth estimate is 21.3 per cent. If the energy sector is excluded, the growth rate for the index is 18.4 per cent.

Q2 2018 performance vs. earnings expectations

Of the 24 companies in the S&P 500 that have reported earnings to date for Q3 2018:

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  • 87.5 per cent reported above analyst expectations (if this holds, it would be the highest on record, going back to 1994)
  • 8.3 per cent reported below analyst expectations
Historical average performance vs. earnings expectations
  • In a typical quarter (since 1994), 64 per cent of companies beat estimates and 21 per cent miss estimates.
  • Over the past four quarters, 77 per cent of companies have beaten estimates and 16 per cent have missed estimates.

Revenue highlights

The Q3 2018 Y/Y blended revenue growth estimate is 7.3 per cent. If the energy sector is excluded, the growth rate for the index is 6.3 per cent.

Q2 2018 performance vs. revenue expectations

Of the S&P 500 companies that have reported revenue to date for Q3 2018:

  • 70.8 per cent reported above analyst expectations
  • 29.2 per cent reported below analyst expectations
Historical average performance vs. revenue expectations
  • In a typical quarter (since 2002), 60 per cent of companies beat estimates and 40 per cent miss estimates.
  • Over the past four quarters, 73 per cent of companies have beaten estimates and 27 per cent have missed estimates.

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