We now have a clear picture for the Apr–Jun 2016 quarter earnings, after an eventful last week with almost 1000 companies having released their numbers.
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 slight signs of improvement in the overall earnings picture that we saw earlier in the reporting season. (Read our latest Earnings Preview article for more details)
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.
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.
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 players within the sector, like General Cable Corporation (BGC - Free Report) , Myers Industries Inc. (MYE - Free Report) , SPX FLOW, Inc. (FLOW - Free Report) and Kadant Inc. (KAI - Free Report) are poised ahead of their scheduled announcements tomorrow.
General Cable: General Cable is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products. It caters to diverse client needs in commercial, industrial, utility, telecommunications, original equipment manufacturers, military/government, retail, electrical, and communications distributor customers.
General Cable has a decent earnings surprise history, with three striking earnings beats in the four trailing quarters with an average positive earnings surprise of 108.7%. Last quarter, it trumped estimates by a whopping 375%.
The company has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for the quarter is pegged at 34 cents.
Myers Industries: This company is an international manufacturer of polymer products for the industrial, agricultural, automotive, commercial, and consumer markets.
The Akron, Ohio-based company’s earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in the other two, with an average positive surprise of 2.1%.In the last reported quarter, the company delivered a positive earnings surprise of 75%.
Myers Industries presently has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 23 cents.
SPX FLOW: This company is a supplier of engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services.
Headquartered in Charlotte, North Carolina, SPX FLOW has had a choppy earnings history over the trailing four quarters, with two significant beats and a miss, for an average positive surprise of 131.8%. In the last reported quarter, the company delivered a remarkable positive earnings surprise of 300%.
SPX FLOW presently has an Earnings ESP of -19.05% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for the quarter is pegged at 42 cents.
Kadant: This companysupplies equipment used in papermaking, paper recycling, and other process industries primarily in North America, China, and Europe.
The company has recorded a robust surprise history over the trailing four quarters, with four consecutive beats. The company posted an average positive surprise of 16.2% over the trailing four quarters, driven by a consistent earnings beats. Last quarter, it beat estimates by 26.3%.
Kadant presently has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 64 cents.
Keep an eye on our full earnings articles to see how these players finally fared in quarter.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
We now have a clear picture for the Apr–Jun 2016 quarter earnings, after an eventful last week with almost 1000 companies having released their numbers.
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 slight signs of improvement in the overall earnings picture that we saw earlier in the reporting season. (Read our latest Earnings Preview article for more details)
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.
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.
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 players within the sector, like General Cable Corporation (BGC - Free Report) , Myers Industries Inc. (MYE - Free Report) , SPX FLOW, Inc. (FLOW - Free Report) and Kadant Inc. (KAI - Free Report) are poised ahead of their scheduled announcements tomorrow.
General Cable: General Cable is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products. It caters to diverse client needs in commercial, industrial, utility, telecommunications, original equipment manufacturers, military/government, retail, electrical, and communications distributor customers.
General Cable has a decent earnings surprise history, with three striking earnings beats in the four trailing quarters with an average positive earnings surprise of 108.7%. Last quarter, it trumped estimates by a whopping 375%.
The company has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). The Zacks Consensus Estimate for the quarter is pegged at 34 cents.
Myers Industries: This company is an international manufacturer of polymer products for the industrial, agricultural, automotive, commercial, and consumer markets.
The Akron, Ohio-based company’s earnings history is a mixed bag. It beat the Zacks Consensus Estimate in two of the trailing four quarters, while missing in the other two, with an average positive surprise of 2.1%.In the last reported quarter, the company delivered a positive earnings surprise of 75%.
Myers Industries presently has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 23 cents.
SPX FLOW: This company is a supplier of engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services.
Headquartered in Charlotte, North Carolina, SPX FLOW has had a choppy earnings history over the trailing four quarters, with two significant beats and a miss, for an average positive surprise of 131.8%. In the last reported quarter, the company delivered a remarkable positive earnings surprise of 300%.
SPX FLOW presently has an Earnings ESP of -19.05% and a Zacks Rank #4 (Sell). The Zacks Consensus Estimate for the quarter is pegged at 42 cents.
Kadant: This companysupplies equipment used in papermaking, paper recycling, and other process industries primarily in North America, China, and Europe.
The company has recorded a robust surprise history over the trailing four quarters, with four consecutive beats. The company posted an average positive surprise of 16.2% over the trailing four quarters, driven by a consistent earnings beats. Last quarter, it beat estimates by 26.3%.
Kadant presently has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 64 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 >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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