The Standard & Poor’s 500 index has seen higher-than-expected Q1 earnings per share from 58 of the 77 companies that have released full operating comparative quarterly data as of Friday, according to a report from Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
While that amounts to an EPS beat rate of 75% so far, there haven’t been as many sales beats. Silverblatt said 38 of 76 S&P 500 companies, or 50%, have reported higher-than-expected sales for Q1 so far.
Silverblatt noted of the 19 S&P 500 companies that failed to post EPS beats so far this earnings season, six met Street expectations while 13 missed.
The financial sector has had the most reports thus far for Q1 — 26 — and also has had the most EPS beats, amounting to 17. However, it also has had the most misses — six — and the most meets — three.
The industrial sector has had the second-highest number of Q1 reports so far: 15. Of those, 12 companies have topped Street expectations for EPS while three missed.
Silverblatt said 157 components of the S&P 500 are set to release their Q1 results this week, with another 161 coming next week.
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