More than halfway through earnings season, S&P 500 EPS posting y/y growth:

  • According to the latest Earnings Insight report from FactSet, blended Q3 earnings growth rate for S&P 500 now stands at 1.6%. Compares the 1.6% decline estimated at the end of the quarter. Puts index on track to post y/y earnings growth for the first time since Q1 2015. Report noted that while all eleven sectors have contributed to the increase in earnings since end of the quarter, financials sector has provided outsized support. Other key metrics still running above trend. Of the 58% of S&P 500 companies that have now reported, 74% have exceeded consensus expectations, above the 70% four-quarter average. In the aggregate, companies have reported earnings 6.7% above expectations, better than the four-quarter average surprise rate of 4.8%. Blended S&P 500 revenue growth rate is 2.7%. In addition, 58% have surpassed consensus revenue expectations, better than the four-quarter average of 50%. In the aggregate, companies have exceeded consensus revenue estimates by 0.8%, ahead of the 0.0% four-quarter average.