Earnings

How S&P 500 companies are reporting against expectations, what they are guiding for next quarter, and where growth, margins and valuation stand.

Earnings Season

S&P 500 scorecard

Guidance

Negative Guidance

Share of next-quarter EPS guidance below consensus

Negative share by quarter

% of guidance below consensus FactSet 10-yr average

Guidance so far

Last full tally

Full-year guidance

FactSet counts guidance as negative when a company's EPS guidance (or its midpoint) comes in below the consensus estimate, not when a company lowers its own outlook.

Guidance Jumps

Change in negative share vs prior quarter

Quarter-over-quarter change in the negative share, in percentage points.

Not a timing signal. Large jumps came shortly before or during the 2018, 2022 and 2025 sell-offs, but a Market Desk test on 2011–2016 data found no such link: the 2011 and 2015 declines had no warning jump, and bigger jumps in those years were followed by better returns.

Beat Rates

Share of companies beating estimates, season end

EPS beat Revenue beat EPS 5-yr average

Fundamentals

Earnings Growth

Year over year, S&P 500 aggregate

EPS growth Expected at quarter start Revenue growth

Net Margin

S&P 500

Forward P/E

12-month forward