As many as three-quarters of S&P 500-member companies have already reported earnings in the second quarter of the year, with 85 percent exceeding analyst expectations and beating the 76 percent 10-year average. More importantly, the results point to a sharp acceleration in profitability.
The most striking figure is the pace of profit growth. FactSet currently estimates 50.4 percent year-on-year earnings growth in the S&P 500 for the second quarter of the year, which would be the strongest quarterly earnings growth since 2021. It would also represent the seventh consecutive quarter of double-digit earnings growth.
Revenues are similarly robust, at around 15 percent year over year, compared with 12.2 percent expected at the end of the quarter.
The strength of the earnings season has been evident in the pace of recent results. On August 7 alone, as many as 200 companies reported their second quarter earnings, but only 15 companies exceeded analyst expectations.
Gap-Up Candidates: Stocks That Shattered Wall Street Expectations on Friday
15. Essent Group Ltd. (NYSE:ESNT)
Essent Group Ltd. (NYSE:ESNT) exceeded estimates with $2.08 EPS, exceeding expectations by $0.34.
14. Fluor Corporation (NYSE:FLR)
Fluor Corporation (NYSE:FLR) shattered consensus estimates of $0.70, beating analyst predictions by $0.21 to end at $0.91.
13. Citizens & Northern Corporation (NASDAQ:CZNC)
Citizens & Northern Corporation (NASDAQ:CZNC) surprised Wall Street with EPS of $0.79, shattering predictions by $0.13.
12. Interface, Inc. (NASDAQ:TILE)
Interface, Inc. (NASDAQ:TILE) cracked past earnings expectations of $0.64, posting EPS of $0.88, or higher by $0.24.
11. Global Partners LP (NYSE:GLP)
Global Partners LP (NYSE:GLP) registered $1.86 EPS in the second quarter, beating expectations by $0.62.
10. Docebo Inc. (NASDAQ:DCBO)
Docebo Inc. (NASDAQ:DCBO) surprised Wall Street with $0.37 EPS, better by $0.08 than the $0.29 as expected by analysts.
9. Kimbell Royalty Partners, LP (NYSE:KRP)
Kimbell Royalty Partners, LP (NYSE:KRP) surprised Wall Street with $0.40 EPS, better by $0.15 than the $0.25 as expected by analysts.
8. Trulieve Cannabis Corp. (NYSE:TRLV)
Trulieve Cannabis Corp. (NYSE:TRLV) ended at $0.11 EPS, topping estimates by $0.08.
7. Spectrum Brands Holdings, Inc. (NYSE:SPB)
Spectrum Brands Holdings, Inc. (NYSE:SPB) posted EPS of $2.79 for the second quarter, exceeding expectations by $1.33.
6. ACM Research, Inc. (NASDAQ:ACMR)
ACM Research, Inc. (NASDAQ:ACMR) topped analyst targets on EPS by $0.27, ending at $0.61.
5. Johnson Outdoors Inc. (NASDAQ:JOUT)
Johnson Outdoors Inc. (NASDAQ:JOUT) cracked past analyst expectations in the second quarter of the year, ending at $1.42 and topping expectations by $0.74.
4. Embecta Corp. (NASDAQ:EMBC)
Embecta Corp. (NASDAQ:EMBC) posted EPS of $0.56, beating analyst predictions by $0.29.
3. Dauch Corporation (NYSE:DCH)
Dauch Corporation (NYSE:DCH) surprised Wall Street with EPS of $0.32, better by $0.16 than the consensus.
2. Under Armour, Inc. (NYSE:UAA)
Under Armour, Inc. (NYSE:UAA) registered EPS of $0.05, topping expectations by $0.03.
1. Gray Media, Inc. (NYSE:GTN)
Gray Media, Inc. (NYSE:GTN) posted EPS of $0.21, beating expectations by $0.29. Analysts had expected a loss of $0.08.
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