In typical fashion, the retailers wrap up the earning season. That procession begins this week when several department stores report their first quarter results. The S&P 500 multi-line retailers have struggled in the last couple of quarters, but this season they are expected to put up earnings per share (EPS) growth of 9.5%, and revenue growth less that half of that at 4.2%. The big names from that industry reporting this week are Macy's, J.C. Penney (no longer in the S&P 500), Kohl's and Nordstrom.
How are we doing?
Expectations for S&P 500 earnings growth for the first quarter stand at 2.1%, a nice improvement from the -1.5% expected at the beginning of the season. On the flip-side, revenues are anticipated to decline 2.0%.
Leaders
Earnings:
Health Care (20.8%). Notable industry: Biotechnology (41.3%).
Financials (12.4%). Notable industry: Capital Markets (18.4%)
Revenues:
Health Care (10.3%). Notable industry: Biotech (28.4%).
Information Technology (6.8%). Notable industry: Internet Software & Services (21.9%)
Laggards
Earnings:
Energy (-54.2%). Notable industry: Oil, Gas and Consumable Fuels (-65.1%)
Materials (-0.4%). Notable industry: Construction Materials (-85.7%)
Revenues:
Energy (-36.5%). Notable industry: Oil, Gas and Consumable Fuels (-39.4%).
Materials (-9.3%). Notable industry: Chemicals (-10.6%).
Beat/Miss/Match
Earnings: With 449 S&P 500 companies reporting thus far, 54% have beaten the Estimize consensus, 36% have missed and 9% have met. This is compared to Wall Street estimates, of which 69% of companies have beat on the bottom-line, 22% have missed and 9% have met.
Revenue: 37% have beaten the Estimize consensus, while 63% have missed. This is compared to Wall Street estimates, of which 44% of companies have beat and 56% have missed.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.