The first full week of third-quarter earnings reports showed results for the quarter running at a better pace than previously expected. As last week ended, the growth rate for third-quarter S&P 500 earnings was 32.7% versus the 27.5% expected at the end of the quarter, with revenues growing 15.3%

Of the roughly 25% of S&P 500 companies that have reported earnings so far, 84% topped consensus earnings expectations and 75% surpassed sales expectations. Earnings have exceeded expectations by nearly 13.5% compared to the nearly 16.5% in the second quarter and nearly 22.5% in the first quarter, but this still is better than the 8.4% five-year average. The 2021 S&P 500 earnings estimate increased $1.07 to $202.21. The 2022 estimate increased 51 cents to $218.51.

Continue reading the full PDF

About the author

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/