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EARNINGS AGGREGATES
The S&P 500 Earnings Scorecard is the most comprehensive and up to the minute compilation of aggregated earnings
growth and market intelligence covering the companies included in the S&P 500 Index.
This report combines Thomson Reuters unrivaled historical earnings database, in depth coverage of Wall Street analysts'
bottom-up corporate earnings estimates, and the analytic capabilities of Thomson Reuters Proprietary Research Group
and desk-top solutions.
EARNINGS DASHBOARD
Exhibit 1. 2018Q2 S&P 500 Earnings Dashboard
© 2018 Thomson Reuters. All marks herein are used under licence.
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 2
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 3
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 4
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
CURRENT/FUTURE REVENUE
Exhibit 13. Current/Future Revenue ($B'S )
Sector 2018Q2 2018Q3 2018Q4 2019Q1 2018 2019
Consumer Discretionary 422.1 419.5 460.0 423.3 1,599.3 1,796.3
Consumer Staples 287.6 300.6 305.8 297.8 1,111.2 1,223.2
Energy 273.9 287.8 286.9 273.5 1,042.2 1,141.3
Financials 341.1 345.3 346.6 356.0 1,289.9 1,443.5
Health Care 495.7 499.4 517.6 509.3 1,877.7 2,087.1
Industrials 335.5 337.4 344.3 331.5 1,255.4 1,357.8
Materials 66.3 86.4 86.2 83.3 325.1 327.3
Real Estate 25.3 25.4 26.5 25.5 95.6 106.7
Technology 326.1 337.8 390.6 348.4 1,299.8 1,477.0
Telecom 76.1 83.1 88.5 82.4 303.2 336.6
Utilities 76.1 89.5 78.0 86.0 306.6 334.3
S&P 500 2,725.8 2,812.2 2,931.2 2,817.0 10,506.0
#REF! 11,631.0
#REF!
Source: Thomson Reuters I/B/E/S
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 5
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 6
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 7
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
2,800 21
S&P 500 Close (USD)
2,750 20
18.9
P/E Ratio
2,700 19
2,650 18
2,600 17
2,550 16.5 16
2,500 15
6-Jun
17-Apr
24-Apr
4-Jul
1-May
8-May
13-Jun
20-Jun
27-Jun
11-Jul
15-May
22-May
30-May
Source: Thomson Reuters Eikon
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 8
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
50
40
30
20
10
0
Exhibit 26. Actual vs. Earnings Estimates (Above/Below) and Surprise Factors
Sector 18Q2 18Q1 17Q4 17Q3 17Q2 17Q1 16Q4 16Q3 16Q2
Consumer Discretionary Surprise % 15.0% 8.7% 6.2% 4.7% 4.3% 9.2% 4.8% 5.5% 16.4%
Above 100.0% 71.1% 74.0% 68.8% 72.2% 75.3% 71.6% 64.6% 73.2%
Below 0.0% 22.4% 19.5% 21.3% 19.0% 17.3% 22.2% 25.6% 19.5%
Consumer Staples Surprise % 4.1% 4.3% 2.7% 1.9% 2.2% 0.8% 1.6% 3.9% 2.9%
Above 85.7% 78.8% 64.7% 76.5% 64.7% 50.0% 56.8% 70.3% 73.0%
Below 14.3% 18.2% 17.6% 14.7% 23.5% 38.9% 29.7% 18.9% 18.9%
Energy Surprise % - 11.3% -5.9% 8.1% 1.4% 24.7% 12.0% 33.3% -26.5%
Above - 74.2% 74.2% 71.9% 62.5% 64.7% 58.8% 72.2% 61.1%
Below - 16.1% 16.1% 18.8% 34.4% 29.4% 29.4% 22.2% 30.6%
Financials Surprise % [1] - 4.9% 3.6% 3.6% 4.1% 5.5% -3.1% 8.2% 3.6%
Above - 80.9% 77.9% 77.6% 71.6% 84.8% 73.8% 87.3% 73.0%
Below - 10.3% 14.7% 19.4% 19.4% 12.1% 18.5% 11.1% 15.9%
Health Care Surprise % - 4.7% 4.0% 4.6% 5.9% 4.8% 1.7% 2.3% 3.0%
Above - 85.7% 85.2% 75.8% 80.6% 83.6% 79.7% 66.7% 82.5%
Below - 9.5% 8.2% 19.4% 9.7% 14.8% 13.6% 23.3% 7.0%
Industrials Surprise % 2.5% 10.6% 4.2% -2.6% 3.5% 9.7% 2.4% 5.5% 6.4%
Above 75.0% 79.7% 77.1% 72.1% 72.1% 80.6% 61.8% 69.6% 69.1%
Below 25.0% 11.6% 15.7% 16.2% 19.1% 14.9% 27.9% 21.7% 17.6%
Materials Surprise % - 3.0% 10.5% 12.8% 3.9% 6.5% 2.5% 4.9% 2.6%
Above - 75.0% 88.0% 72.0% 62.5% 76.0% 64.0% 52.0% 55.6%
Below - 20.8% 4.0% 20.0% 29.2% 20.0% 28.0% 36.0% 33.3%
Real Estate Surprise % [1] - 0.9% -0.4% 1.2% 2.2% 1.2% 10.9% 1.0% -1.4%
Above - 60.6% 48.5% 60.6% 72.7% 54.8% 58.1% 44.8% 50.0%
Below - 24.2% 33.3% 21.2% 21.2% 29.0% 16.1% 20.7% 32.1%
Technology Surprise % 3.1% 8.6% 6.1% 11.1% 10.2% 5.9% 4.7% 6.2% 7.7%
Above 83.3% 91.5% 87.0% 89.7% 86.8% 88.1% 87.7% 87.9% 84.8%
Below 0.0% 1.4% 7.2% 4.4% 4.4% 4.5% 3.1% 4.5% 3.0%
Telecom Surprise % - 1.7% 7.5% -0.5% 4.0% -0.5% -0.8% 1.2% 1.4%
Above - 66.7% 33.3% 0.0% 50.0% 0.0% 25.0% 40.0% 60.0%
Below - 33.3% 66.7% 66.7% 25.0% 50.0% 50.0% 20.0% 20.0%
Utilities Surprise % - 5.7% 4.6% 1.3% 10.7% 5.7% 1.2% 5.5% 3.9%
Above - 65.5% 71.4% 46.4% 71.4% 75.0% 35.7% 78.6% 53.6%
Below - 27.6% 21.4% 46.4% 17.9% 17.9% 42.9% 17.9% 39.3%
S&P 500 Surprise % 4.5% 6.6% 4.4% 4.8% 5.5% 6.1% 2.3% 5.5% 5.5%
Above 87.0% 78.2% 76.2% 72.8% 73.3% 75.6% 68.0% 71.2% 70.8%
Below 8.7% 14.4% 15.4% 18.8% 17.8% 17.8% 21.3% 19.2% 18.5%
Source: Thomson Reuters I/B/E/S
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 9
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
Exhibit 27. Actual vs. Revenue Estimates (Above/Below) and Surprise Factors
Sector 18Q2 18Q1 17Q4 17Q3 17Q2 17Q1 16Q4 16Q3 16Q2
Consumer Discretionary Surprise % 3.2% 2.0% 1.6% 1.2% 0.6% 1.0% 0.5% 0.9% 0.7%
Above 83.3% 77.6% 74.0% 66.3% 72.2% 55.6% 50.6% 56.1% 43.9%
Below 16.7% 22.4% 26.0% 33.8% 27.8% 44.4% 49.4% 43.9% 56.1%
Consumer Staples Surprise % 0.9% 1.2% 0.8% 0.5% 0.1% 0.0% -0.4% -0.6% -0.9%
Above 85.7% 66.7% 61.8% 67.6% 64.7% 36.1% 40.5% 37.8% 43.2%
Below 14.3% 33.3% 38.2% 32.4% 35.3% 63.9% 59.5% 62.2% 56.8%
Energy Surprise % - 0.1% 0.3% 4.9% 4.1% 1.6% 3.1% -3.0% -2.0%
Above 0.0% 67.7% 80.6% 71.9% 68.8% 70.6% 64.7% 47.2% 47.2%
Below 0.0% 32.3% 19.4% 28.1% 31.3% 29.4% 35.3% 52.8% 52.8%
Financials Surprise % [1] - -1.2% 1.3% 1.8% 1.6% 0.5% 0.9% 3.7% 0.4%
Above 0.0% 61.2% 71.6% 66.7% 65.2% 53.8% 45.3% 71.0% 53.2%
Below 0.0% 38.8% 28.4% 33.3% 34.8% 46.2% 54.7% 29.0% 46.8%
Health Care Surprise % - 0.7% 1.5% -0.2% 0.3% 0.1% -0.2% 0.2% 0.8%
Above 0.0% 76.2% 91.8% 69.4% 66.1% 70.5% 54.2% 58.3% 71.9%
Below 0.0% 23.8% 8.2% 30.6% 33.9% 29.5% 45.8% 41.7% 28.1%
Industrials Surprise % 0.5% 2.8% 1.1% 1.4% 0.9% 1.5% 0.1% -0.2% 0.9%
Above 100.0% 87.0% 82.9% 63.2% 64.7% 76.1% 57.4% 37.7% 50.0%
Below 0.0% 13.0% 17.1% 36.8% 35.3% 23.9% 42.6% 62.3% 50.0%
Materials Surprise % - 1.4% 2.4% 2.1% 1.1% 3.2% 1.7% -0.1% -0.9%
Above 0.0% 75.0% 80.0% 84.0% 79.2% 80.0% 48.0% 40.0% 44.4%
Below 0.0% 25.0% 20.0% 16.0% 20.8% 20.0% 52.0% 60.0% 55.6%
Real Estate Surprise % [1] - 6.1% 2.0% 1.0% -0.1% 1.3% 0.1% 0.0% -0.3%
Above 0.0% 78.8% 69.7% 69.7% 63.6% 67.7% 54.8% 72.4% 57.1%
Below 0.0% 21.2% 30.3% 30.3% 36.4% 32.3% 45.2% 27.6% 42.9%
Technology Surprise % 1.3% 2.3% 2.1% 2.7% 1.8% 0.9% 1.4% 1.2% 1.6%
Above 100.0% 91.5% 88.4% 86.8% 83.8% 73.1% 69.2% 77.3% 75.8%
Below 0.0% 8.5% 11.6% 13.2% 16.2% 26.9% 30.8% 22.7% 24.2%
Telecom Surprise % - -1.0% 1.3% -0.1% 0.9% -2.5% 0.0% -0.6% -0.8%
Above 0.0% 33.3% 66.7% 33.3% 100.0% 25.0% 25.0% 20.0% 20.0%
Below 0.0% 66.7% 33.3% 66.7% 0.0% 75.0% 75.0% 80.0% 80.0%
Utilities Surprise % - 2.2% -3.1% -3.4% 0.5% 1.4% -10.7% -2.9% -6.8%
Above 0.0% 55.2% 42.9% 25.0% 53.6% 46.4% 17.9% 28.6% 10.7%
Below 0.0% 44.8% 57.1% 75.0% 46.4% 53.6% 82.1% 71.4% 89.3%
S&P 500 Surprise % 1.2% 1.2% 1.2% 1.3% 1.1% 0.7% 0.2% 0.3% 0.0%
Above 91.3% 75.6% 76.9% 68.1% 69.3% 63.1% 52.0% 54.7% 52.2%
Below 8.7% 24.4% 23.1% 31.9% 30.7% 36.9% 48.0% 45.3% 47.8%
Source: Thomson Reuters I/B/E/S
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 10
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
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© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 11
THOMSON REUTERS PROPRIETARY RESEARCH JULY 12, 2018
S&P 500 EARNINGS SCORECARD
© 2018 Thomson Reuters. All marks herein are used under licence. TRPR_82201_20180712 12