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Earnings Insight: 2023 Q1: Difference between revisions
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=== April 14 Update === | === April 14 Update === | ||
[[File:Q1 2023 EPS 2.png|thumb|388x388px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_041423.pdf?hsCtaTracking=31d0f488-5c02-4193-b93b-f1708067f4fa%7Cb994622e-6b82-4c98-ad34-76c848088314]] | |||
At this very early stage, the first quarter earnings season for the S&P 500 is off to a strong start. Both the number of positive earnings surprises and the magnitude of these earnings surprises are above their 10-year averages | |||
* For Q1 2023 (with 6% of S&P 500 companies reporting actual results), 90% of S&P 500 companies has reported a positive EPS surprise and 63% of S&P 500 companies have reported a positive revenue surprise. | |||
* For Q1 2023, the blended earnings decline for the S&P 500 is -6.5%. If -6.5% is the actual decline for the quarter, it will mark the largest earnings decline reported by the index since Q2 2020 (-31.6%). On March 31, the estimated earnings decline for Q1 2023 was -6.7%. | |||
* The blended revenue growth rate for the first quarter is 2.0% today, compared to a revenue growth rate of 1.8% last week and a revenue growth rate of 1.9% at the end of the first quarter (March 31). | |||
* Companies that have reported positive earnings surprises for Q1 2023 have seen an average price increase of +3.1% two days before the earnings release through two days after the earnings release. | |||
* Companies that have reported negative earnings surprises for Q1 2023 have seen an average price decrease of -2.4% two days before the earnings release through two days after the earnings | |||
* Positive earnings surprises reported by companies in the Financials sector were the largest contributor to the decrease in the overall earnings decline during the past week. | |||