Stocks & ETFs

How The Q4 2023 Earnings Season Has Shaped Up Thus Far

According to FactSet, 75% of the companies that reported this earnings season came in above estimates on the street which indicates a beat.

How The Q4 2023 Earnings Season Has Shaped Up Thus Far
By

Earnings season is upon us for Q4 2023 and so far just north 80% of companies in the S&P 500 have already reported. According to FactSet, 75% of the companies that reported came in above estimates on the street which indicates a beat (better than expected). However, this doesn’t mean the S&P 500 is expensive when looking forward.

The 5-Year Average


To go further, the 5-year average for companies in the S&P 500 that beat a quarterly earnings report is 77%. The good news is that after all the companies in the S&P 500 have reported (remaining 20%), it’s likely that the market will, at the very least, meet the 77% figure. 

As far as earnings beats above estimates are concerned, on average the companies that reported a beat were 3.9% above estimates, the 5-year average for that is 8.5%. This particular figure will likely stay below the 5-year average in this particular earnings season but the gap to close in the second half of 2024.

Tracking Earnings Season


Market participants are able to track all companies reporting earnings here.

Leave a Comment

Scroll to Top

Subscribe and get a discount code for 1 free month of premium articles, Market Data & Analysis, Trader Voice Notes, and Whispers on Wall Street.

Thanks for subscribing.