Corporate earnings season has begun, and the results are turning heads on Wall Street.
Of the 120 companies in the S&P 500 index that reported numbers as of Friday, July 23, 89% of them beat the Street’s earnings-per-share estimates by an average of nearly 21%.1
The robust results are leading Wall Street analysts to raise estimates for the third and fourth quarters as well as the first-quarter 2022.1
Earnings season occurs four times a year, and it’s the time when a majority of publicly traded companies release their quarterly financial reports. Companies often go into great detail about their business, and some provide guidance about what lies ahead.
Typically, earnings season starts several weeks after the calendar quarter comes to a close. For example, the second quarter's earnings season began in mid-July, and the majority of companies are expected to release their earnings over the next six weeks.2
If you hear any confusing commentary, please give us a call. We always welcome the chance to talk about what earnings may be saying about the overall economic outlook.
1. Earnings Scout, July 23, 2021
2. Insights.Factet.com, January 22, 2021
Wall Street’s forecasts for Q3 and Q4 2021 and Q1 2022 are based on assumptions, subject to revision without notice, and may not materialize.
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced to provide information on a topic that may be of interest. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
A Roaring Start to Earnings Season
July 27, 2021