Earnings Season So Far

This earnings season is shaping up to be a good one. Here are some numbers via Zacks:

*4Q earnings season off to strong start, with 206 of the S&P 500 reports in, median surprise of 4.28% and surprise ratio of 3.73 for EPS, 1.53% and 2.94 for revenues.
*Reported (206 firms) fourth quarter earnings growth of 31.2%, expected (294 firms) year-over-year growth of 19.5% for the vast majority of firms yet to report. On the Revenue side, 7.88% growth reported, but decline of 1.37% expected for those yet to report.
*Full-year total earnings for the S&P 500 expected to jump 43.3% in 2010, 14.7% further in 2011. Growth to continue in 2012 with total net income expected to rise 12.0%.
*Total revenues for the S&P 500 expected to rise 6.09% in 2010, 4.77% in 2011, and 4.89% in 2012. Excluding Financials, revenues expected to be up 8.99% in 2010, 5.97% in 2011 and 5.45% in 2012.
*Revisions ratio for full S&P 500 at 1.98 for 2011, at 1.82 for 2012 — both very bullish readings. Ratio of firms with rising to falling mean estimates at 2.05 for 2011, 1.66 for 2012, also very positive readings. Total revisions activity expanding rapidly, making the revisions ratios more significant.
*S&P 500 earned $544.3 billion in 2009, expected to earn $782.9 billion in 2010, $898.1 billion in 2011. In 2012, the 500 are collectively expected to earn $1.0057 Trillion.
*S&P 500 earned $57.68 in 2009: $82.62 in 2010 and $94.77 in 2011 expected, bottom-up. For 2012, $106.17 expected in early read. Puts P/Es at 15.7x for 2010, and 13.7x for 2011 and 12.2x for 2012.

Posted by on January 31st, 2011 at 4:03 pm

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