From Nasdaq.: 2024-04-17 21:17:00

Q1 earnings season shows positive signs with 48 S&P 500 members reporting +9.5% earnings growth and +4.5% higher revenues. 77.1% beat EPS estimates and 64.6% beat revenue estimates. Finance sector sees +4.6% earnings growth and +4.7% higher revenues with 77.8% beating EPS and revenue estimates.

Earnings estimates are going up overall, with sectors like Tech and Retail already experiencing positive revisions. Energy sector now also enjoys favorable revisions. Chevron’s 2024 EPS estimate is $13.56, down from $15.28 in 2023 but up from $13.04 in March. Exxon’s $9.70 EPS estimate is up +6.5% in two weeks.

The Tech sector has seen consistent favorable revisions. Expectations for margins to reverse last year’s declines and expand, driving earnings growth. Aggregate net margins expected to reach 2022 levels, with Tech sector leading gains. Overall, 2024 earnings estimates for the S&P 500 show positive evolution.



Read more at Nasdaq.:: Earnings Expectations Are Moving Higher