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We are currently in the thick of the Apr–Jun 2016 earnings, with as many as 1000 companies (including 116 S&P 500 members), scheduled to post their results this week. By the end of the week, we will have results from more than 87% of S&P 500 companies.
As of Jun 29, we had results from 317 S&P 500 members, of which about 72.9% have posted earnings beats and 53.6% trumped top-line estimates.
Despite the modest positive trend, earnings growth is projected to be negative for 8 of the 16 Zacks sectors (as of Jul 29). This shows that the weakness is quite broad-based, though the energy sector still remains the biggest drag. Further, growth for the benchmark S&P 500 index is on track to be in the red for the fifth quarter in a row.
On the whole, our latest data projects that earnings for S&P 500 companies are now on track to decline 3.4% from the year-ago period, on 0.4% lower revenues. This is comparable to a decline of 6.2% expected at the beginning of the season. This change confirms the signs of a slight improvement in the overall earnings picture that we saw earlier in the reporting season. (Read our latest Earnings Preview article for more details)
The industrial products sector is one of the sectors expected to chart negative earnings growth this quarter. Its earnings are on track to contract 5.1% in the quarter, on 5.8% lower sales compared with the last year.
Let’s have a look at how some engineering companies within the sector, like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) and Willdan Group, Inc. (WLDN - Free Report) are poised ahead of their scheduled announcements tomorrow.
Fluor Corporation: Fluor provides engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients.
Fluor has a choppy earnings surprise history, with three earnings misses in the four trailing quarters, for an average negative earnings surprise of 6.4%. Last quarter, it lagged estimates by 1.2%.
Quanta Services: This company a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers’ evolving needs.
Quanta Services’ earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in one, with a modest average positive surprise of 0.9%.In the last reported quarter, the company delivered a negative earnings surprise of 9.1%.
The company presently has an Earnings ESP of 0.00% and a Zacks Rank #4. The Zacks Consensus Estimate for the quarter is pegged at 32 cents. (Read more: Quanta Services Q2 Earnings: What's in the Cards?)
Willdan Group: This company is a leading single resource provider of specialized outsourced services to small and mid-sized public agencies located primarily in California and other western states.
Willdan Group has had a dull earnings history over the trailing four quarters, with three significant misses and a beat, for an average negative surprise of 24.8%. In the last reported quarter, the company delivered a positive earnings surprise of 18.2%.
The company presently has an Earnings ESP of 0.00% and a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the quarter is pegged at 23 cents.
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
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Engineering Stocks' Earnings Queued Up: FLR, PWR, WLDN
We are currently in the thick of the Apr–Jun 2016 earnings, with as many as 1000 companies (including 116 S&P 500 members), scheduled to post their results this week. By the end of the week, we will have results from more than 87% of S&P 500 companies.
As of Jun 29, we had results from 317 S&P 500 members, of which about 72.9% have posted earnings beats and 53.6% trumped top-line estimates.
Despite the modest positive trend, earnings growth is projected to be negative for 8 of the 16 Zacks sectors (as of Jul 29). This shows that the weakness is quite broad-based, though the energy sector still remains the biggest drag. Further, growth for the benchmark S&P 500 index is on track to be in the red for the fifth quarter in a row.
On the whole, our latest data projects that earnings for S&P 500 companies are now on track to decline 3.4% from the year-ago period, on 0.4% lower revenues. This is comparable to a decline of 6.2% expected at the beginning of the season. This change confirms the signs of a slight improvement in the overall earnings picture that we saw earlier in the reporting season. (Read our latest Earnings Preview article for more details)
The industrial products sector is one of the sectors expected to chart negative earnings growth this quarter. Its earnings are on track to contract 5.1% in the quarter, on 5.8% lower sales compared with the last year.
Let’s have a look at how some engineering companies within the sector, like Fluor Corporation (FLR - Free Report) , Quanta Services Inc. (PWR - Free Report) and Willdan Group, Inc. (WLDN - Free Report) are poised ahead of their scheduled announcements tomorrow.
Fluor Corporation: Fluor provides engineering, procurement, construction and maintenance services through a number of subsidiaries. The company also provides its operations and maintenance services to major industrial clients.
Fluor has a choppy earnings surprise history, with three earnings misses in the four trailing quarters, for an average negative earnings surprise of 6.4%. Last quarter, it lagged estimates by 1.2%.
FLUOR CORP-NEW Price and EPS Surprise
FLUOR CORP-NEW Price and EPS Surprise | FLUOR CORP-NEW Quote
The company has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for the quarter is pegged at 87 cents. (Read more: Fluor Q2 Earnings: Disappointment in the Cards?)
Quanta Services: This company a leading national provider of specialty contracting services, and one of the largest contractors serving the transmission and distribution sector of the North American electric utility industry. The company has grown organically and made strategic acquisitions to expand its geographic presence and scope of services, along with developing new capabilities to meet its customers’ evolving needs.
Quanta Services’ earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in one, with a modest average positive surprise of 0.9%.In the last reported quarter, the company delivered a negative earnings surprise of 9.1%.
QUANTA SERVICES Price and EPS Surprise
QUANTA SERVICES Price and EPS Surprise | QUANTA SERVICES Quote
The company presently has an Earnings ESP of 0.00% and a Zacks Rank #4. The Zacks Consensus Estimate for the quarter is pegged at 32 cents. (Read more: Quanta Services Q2 Earnings: What's in the Cards?)
Willdan Group: This company is a leading single resource provider of specialized outsourced services to small and mid-sized public agencies located primarily in California and other western states.
Willdan Group has had a dull earnings history over the trailing four quarters, with three significant misses and a beat, for an average negative surprise of 24.8%. In the last reported quarter, the company delivered a positive earnings surprise of 18.2%.
WILLDAN GROUP Price and EPS Surprise
WILLDAN GROUP Price and EPS Surprise | WILLDAN GROUP Quote
The company presently has an Earnings ESP of 0.00% and a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for the quarter is pegged at 23 cents.
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>