Analysts Cutting Earnings Estimates

Industry analysts weren't bullish enough about the Q2 earnings of the S&P 500. So far, 87% of S&P 500 companies have reported revenues and earnings for Q2. The revenue and earnings surprises are historically strong but near their lowest readings since the pandemic recovery began. Revenues are beating the consensus forecast by 2.8% and earnings by 6.0%.

Collectively, the 435 companies that have reported had a y/y revenue gain of 15.4% and a y/y earnings gain of 11.2%. These figures are bound to change as more Q2 results are reported in the coming few weeks, particularly from the struggling retailers.