More than 2,000 companies have reported earnings since the Q2 reporting period began on July 11th. Of these 2,000+ reports, 65% posted EPS numbers that were stronger than consensus analyst expectations. That’s a strong reading relative to past earnings seasons over the last five years.
Below is a look at earnings beat rates by sector this season. As shown, the strong overall beat rate of 65% has been driven by Technology, Industrials and Health Care. A whopping 74% of Tech stocks have beaten consensus analyst EPS estimates. Now you know why the sector is on fire lately! The Industrials sector beat rate is at 67%, while it’s 66% for Health Care.
The Utilities sector has the lowest beat rate at 51%. If there’s a sector you want to see in last place for this reading, it’s Utilities!