FYI: More than 2,000 companies have reported first quarter earnings numbers since the reporting period began in early April. Through today, 60.3% of companies that have reported have beaten their consensus analyst EPS estimates.
Notably, though, the beat rate has been trending lower since the end of April, which has coincided with a pullback in stock prices. Below is a chart showing the earnings beat rate as this season has progressed. As shown, the peak for earnings beats came on 4/27, when 66.6% of companies that had reported between 4/8 and 4/27 had beaten EPS estimates. Following a huge batch of misses on 4/28, the beat rate fell to 64.8%, and by the end of last week it had dipped to 62.6%.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/earnings-beat-rate-trends-lower-as-the-season-progresses/
