Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Here are the key points:
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Total S&P 500 earnings in Q3 are currently expected to increase +23.9% from the same period last year on +11.4% higher revenues, with 14 of the 16 Zacks expected to enjoy positive earnings growth and 6 sectors producing double-digit growth. This will be the most broad-based earnings growth performance in recent times.
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Sectors expected to enjoy double-digit earnings growth in Q3 are – Aerospace (+159.5%), Energy (+111.8%), Tech (+41.9%), Basic Materials (+29.8%), Transportation (+14.9%), and Industrial Products (+13.0%).
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Excluding the Tech sector's substantial contribution, Q3 earnings for the rest of the S&P 500 index would be up +14.3% (vs. +23.9% otherwise). Excluding the Energy sector, the aggregate growth rate would decline to +19.9%. If we excluded both the Tech and Energy sectors, aggregate Q3 earnings growth for the rest of the S&P 500 would be +7.4%.
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Micron (MU) and Nvidia (NVDA) remain material contributors to the Tech sect...