{"id":9194,"date":"2019-07-25T13:51:39","date_gmt":"2019-07-25T13:51:39","guid":{"rendered":"https:\/\/fundamentalis.com\/?p=9194"},"modified":"2019-07-25T13:51:39","modified_gmt":"2019-07-25T13:51:39","slug":"q2-19-upside-surprise-data-some-surprises","status":"publish","type":"post","link":"https:\/\/fundamentalis.com\/?p=9194","title":{"rendered":"Q2 &#8217;19 &#8220;Upside Surprise&#8221; Data &#8211; Some Surprises"},"content":{"rendered":"<figure id=\"attachment_9195\" aria-describedby=\"caption-attachment-9195\" style=\"width: 300px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/fundamentalis.com\/?attachment_id=9195\" rel=\"attachment wp-att-9195\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-9195\" src=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/Q219beatrate72519-300x106.png\" alt=\"\" width=\"300\" height=\"106\" srcset=\"https:\/\/fundamentalis.com\/wp-content\/uploads\/Q219beatrate72519-300x106.png 300w, https:\/\/fundamentalis.com\/wp-content\/uploads\/Q219beatrate72519-768x270.png 768w, https:\/\/fundamentalis.com\/wp-content\/uploads\/Q219beatrate72519.png 887w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-9195\" class=\"wp-caption-text\">Click on to open \/ enhance \/ enlarge<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n<p>This table was published Wednesday morning, July 24th, in an update sent out by Tajinder Dhillon of IBES by Refinitiv,<\/p>\n<p>What&#8217;s interesting is that for the SP 500 as a whole, the &#8220;average&#8221; EPS upside surprise is 5.1%.<\/p>\n<p>Looking at the sectors that have had a number of releases like Financials, the upside surprise is 4% &#8211; not bad.<\/p>\n<p>Health Care has a 100% beat rate but just 25% of the sector had reported as of yesterday morning or Tuesday night. (I noticed Bristol Meyer Squibb (BMY) beat on both revenue and earnings this morning per Briefing.com.)<\/p>\n<p>The revenue upside surprise 65% \/ 35% with less than a 1% upside surprise in aggregate, so the EPS data is coming in better than revenue (as a whole).<\/p>\n<p>We&#8217;ll take a look at this further over the weekend.<\/p>\n<p><em><strong>Summary \/ conclusion<\/strong><\/em>: Less than 1\/3rd of the SP 500 has reported results so far. Consumer Discretionary might take a hit with the results out of Ford (F) and Tesla (TSLA) (long a little of both) with Consumer Discretionary showing an 87% EPS beat rate before the latest numbers from Ford and Tesla.<\/p>\n<p>Revenue growth is up 3.8% so far, year-over-year, better than the weakness seen in early 2016.<\/p>\n<p>There are some issues around earnings which will be discussed this weekend, but the &#8220;upside surprise&#8221; factor looks within the historical ranges.<\/p>\n<p>Thanks for reading.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; This table was published Wednesday morning, July 24th, in an update sent out by Tajinder Dhillon of IBES by&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[182],"tags":[],"class_list":["post-9194","post","type-post","status-publish","format-standard","hentry","category-sp-500s-upside-surprise"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/9194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9194"}],"version-history":[{"count":3,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/9194\/revisions"}],"predecessor-version":[{"id":9198,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=\/wp\/v2\/posts\/9194\/revisions\/9198"}],"wp:attachment":[{"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fundamentalis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}