Uddrag fra Refinitiv:
22Q2 Y/Y earnings are expected to be 6.2%. Excluding the energy sector, the Y/Y earnings estimate is -3.2%.
Of the 106 companies in the S&P 500 that have reported earnings to date for 22Q2, 75.5% have reported earnings
above analyst estimates. This compares to a long-term average of 66.1% and prior four quarter average of 80.6%.
22Q2 Y/Y revenue is expected to be 11.3%. Excluding the energy sector, the growth estimate is 6.7%.
68.9% of companies have reported 22Q2 revenue above analyst expectations. This compares to a long-term
average of 61.8% and an average over the past four quarters of 78.5%.
For 22Q2, there have been 78 negative EPS preannouncements issued by S&P 500 corporations compared to 45
positive EPS preannouncements. By dividing 78 by 45 the N/P ratio is 1.7 for the S&P 500 Index.
The forward four-quarter (22Q3– 23Q2) P/E ratio for the S&P 500 is 16.7.
During the week of Jul. 25, 172 S&P 500 companies are expected to report quarterly earnings.
The estimated earnings growth rate for the S&P 500 for 22Q2 is 6.2%. If the energy sector is excluded, the growth rate
declines to -3.2%.
Seven of the 11 sectors in the index expect to see an improvement in earnings relative to 21Q2. The energy and
industrials sectors have the highest earnings growth rates for the quarter, while the financials sector has the weakest
anticipated growth compared to 21Q2.
The energy sector has the highest earnings growth rate (259.6%) of any sector. It is expected to earn $56.6B in 22Q2,
compared to earnings of $15.7B in 21Q2. All five sub-industries in the sector are anticipated to see higher earnings
than a year ago. The oil & gas refining & marketing (1080.9%) and integrated oil & gas (243.0%) sub-industries have
the highest earnings growth in the sector. If these sub-industries are removed, the growth rate declines to 165.9%.
The industrials sector has the second highest earnings growth rate (26.0%) of any sector. It is expected to earn $36.2B
in 22Q2, compared to earnings of $28.8B in 21Q2. Fourteen of the 17 sub-industries in the sector are anticipated to
see higher earnings than a year ago. The airlines (186.6%) and construction & engineering (43.8%) sub-industries
have the highest earnings growth in the sector. If these sub-industries are removed, the growth rate declines to 3.9%.
The financials sector has the lowest earnings growth rate (-22.1%) of any sector. It is expected to earn $65.2B in
22Q2, compared to earnings of $83.7B in 21Q2. Ten of the 12 sub-industries in the sector are anticipated to see lower
earnings than a year ago. The reinsurance (-44.9%) and property & casualty insurance (-33.9%) sub-industries have
the lowest earnings growth in the sector. If these sub-industries are removed, the growth rate improves to -21.3%.
The estimated earnings growth rate for the S&P 500 for 22Q3 is 10.0%. If the energy sector is excluded, the growth
rate declines to 3.8%. The S&P 500 expects to see share-weighted earnings of $494.7B in 22Q3, compared to shareweighted earnings of $449.6B (based on the year-ago earnings of the current 503 constituents) in 21Q3.
Eight of the 11 sectors in the index expect to see an improvement in earnings relative to 21Q3. The energy and
industrials sectors have the highest earnings growth rates for the quarter, while the financials sector has the weakest
anticipated growth compared to 21Q3.
The energy sector has the highest earnings growth rate (118.3%) of any sector. It is expected to earn $53.6B in 22Q3,
compared to earnings of $24.6B in 21Q3. All five sub-industries in the sector are anticipated to see higher earnings
than a year ago. The oil & gas refining & marketing (227.6%) and oil & gas exploration & production (136.1%) subindustries have the highest earnings growth in the sector. If these sub-industries are removed, the growth rate declines
to 93.4%.
The industrials sector has the second highest earnings growth rate (33.1%) of any sector. It is expected to earn $39.9B
in 22Q3, compared to earnings of $30.0B in 21Q3. All seventeen sub-industries in the sector are anticipated to see
higher earnings than a year ago. The airlines (490.9%) and agricultural & farm machinery (71.4%) sub-industries have
the highest earnings growth in the sector. If these sub-industries are removed, the growth rate declines to 18.6%.
The financials sector has the lowest earnings growth rate (-8.2%) of any sector. It is expected to earn $69.1B in 22Q3,
compared to earnings of $75.2B in 21Q3. Five of the 12 sub-industries in the sector are anticipated to see lower
earnings than a year ago. The life & health insurance (-27.7%) and investment banking & brokerage (-27.6%) subindustries have the lowest earnings growth in the sector. If these sub-industries are removed, the growth rate improves
to -3.6%.
