{"id":11888,"date":"2021-08-13T16:10:07","date_gmt":"2021-08-13T22:10:07","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=11888"},"modified":"2021-08-13T16:10:07","modified_gmt":"2021-08-13T22:10:07","slug":"sp-500-earnings-q3-21-sp-500-eps-growth-is-looking-pretty-healthy-already","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=11888","title":{"rendered":"SP 500 Earnings: Q3 ’21 SP 500 EPS Growth is Looking Pretty Healthy Already"},"content":{"rendered":"

Walmart (WMT) reports their July ’21 quarter this coming Tuesday morning, which traditionally and unofficially ends the quarterly reporting period.<\/p>\n

With the summer slowdown, analyst revisions – see chart below – have slowed considerably, which is the tell I use to note when earnings season is done.<\/p>\n

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Data source: This Week in Earnings, Refinitiv<\/p>\n

Readers can see how the bulk of analyst estimate changes occur around earnings reports, the bulk of which fall from mid-July to early August for the 2nd quarter and then revision activity slows considerably.<\/p>\n

The data glitch experienced at IBES by Refinitiv the week of July 30, ’21 appears to have dissipated. Refinitiv is tight-lipped about the glitch which is more puzzling since so much of the estimate data is used in valuation models across Wall Street.<\/p>\n

Anyway, here are a few tables looking at this week’s data:<\/p>\n

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Data source: IBES data by Refinitiv<\/p>\n

The above table is shown frequently on this blog, and shows the increasingly positive revisions for Q3 ’21, which isn’t scheduled to report for another 8 weeks or so. What’s interesting although not shown entirely, is that Q3 ’21 SP 500 EPS has doubled in it’s expected growth rate since early January ’21 – from an expected growth rate of 14.5% to 29.4% as of August 13th. The expected revenue has almost but not quite doubled too, and is expected to increase 13.9% in Q3 ’21.<\/p>\n

Here’s the other SP 500 data that are tracked weekly:<\/p>\n