Over 84% of the total S&P 500 index members have released their third-quarter 2016 results through Nov 4. Results have improved considerably from the previous quarters and are expected to end up in the positive territory after five consecutive quarters of earnings decline for the S&P 500 index.

Per our latest Earnings Preview report, combining the actual results from the 423 S&P 500 members with estimates from the soon-to-be-report 77 index members, overall Q3 earnings are expected to be up 3% on a 1.5% growth in revenues. The relative improvement in estimate revisions for the quarter is largely due to an improvement in the economy and rising oil prices.

Four of the 16 Zacks sectors are expected to witness an earnings decline in the quarter, with Oil/Energy, Transportation and Autos being the biggest drag. Over 645 companies are scheduled to report this week, including 31 S&P 500 members, bringing the tally for the results of the index’s total membership to 90.8%.

The Business Services sector is looking reasonably good. For the sector, earnings are expected to grow 16.7%, while sales are touted to rise 8.7% over the last year. The projected improvement is majorly driven by the growing momentum in the economy as a whole and the job market during the quarter.

Let’s see how things are shaping up for the three business services companies scheduled to report their third-quarter 2016 results tomorrow.

Convergys Corporation is slated to report results after the market closes. Convergys is a global leader of outsourced, integrated billing and customer care services. It focuses on developing long-term strategic relationships with clients in customer-intensive industries.

In the previous quarter, the company delivered in-line earnings of 46 cents. Notably, the company surpassed the Zacks Consensus Estimate in all of the last four quarters with an average positive earnings surprise of 8.05%. We are uncertain of an earnings beat this quarter as the company has an Earnings ESP of 0.00% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Please check our Earnings ESP Filter that enables you find stocks that are expected to come out with earnings surprises.

HERC Holdings, Inc. (HRI Quick QuoteHRI - Free Report) is scheduled to report results before the market opens. The company operates as an equipment rental supplier in North America. It also sells used equipments online and provides financing and warranty services on the equipment. As of Jul 1, it operated approximately 280 company-operated branches.

For the quarter to be reported, we are uncertain of an earnings beat as the company has an ESP of 0.00% and a Zacks Rank #3. Over the trailing four quarters the company missed estimates twice by a large margin, with an average negative surprise of 76.89%.

InnerWorkings Inc. is slated to report results after the market closes. It is a leading provider of managed print and promotional procurement solutions to corporate clients. Over the trailing four quarters, the company beat estimates on all occasions with an average positive surprise of 77.88%. For the quarter to be reported, we are uncertain of an earnings beat as the company has an ESP of 0.00% and a Zacks Rank #3.

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