We are nearing the end of the Q2 earnings season with only 86 S&P 500 members yet to report results (as per our Earnings Trends report on Aug 4). The trend this earnings season indicates that this is going to be the fifth consecutive quarter of earnings decline for the S&P 500 index.
As of Aug 4, earnings and revenues of the S&P 414 companies that have already reported results are down 4.5 and 1% year over year, respectively. Earnings for the whole index are expected to decline 3.1% on 4.1% lower revenues.
However, not all sectors have performed badly. While Technology sector earnings have declined 0.8% year over year, sales have risen 2.6% for the quarter.
On Aug 8, we will see earnings reports from a few electronics companies within the tech sector. These include BWX Technologies, Inc. (BWXT - Free Report) , Rogers Corporation (ROG - Free Report) and IDI, Inc .
BWX Technologies, Inc., which supplies precision manufactured components and services to the commercial nuclear power industry, has been delivering better-than-expected results for the last three quarters. However, it has a four-quarter average negative earnings surprise of 3.42%. For this quarter, this Zacks Rank #3 (Hold) company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 38 cents.
Rogers Corporation manufactures and sells specialty polymer composite materials and components. For the quarter, the company has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 86 cents. Last quarter, the company posted a positive earnings surprise of 54.10%. Notably, Rogers has surpassed the Zacks Consensus Estimate in each of the last four quarters with an average positive surprise of 33.24%.
IDI, Inc., a relatively smaller player in the electronics market, provides information solutions focusing on the data fusion market. This Zacks Rank #3 company is yet to make a profit. For this quarter, both the Most Accurate estimate and the Zacks Consensus Estimate stand at a loss of 12 cents resulting in an Earnings ESP of 0.00%. The combination of 0.00% ESP and a Zacks Rank #3 makes it difficult to predict a surprise in the to-be reported 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 are nearing the end of the Q2 earnings season with only 86 S&P 500 members yet to report results (as per our Earnings Trends report on Aug 4). The trend this earnings season indicates that this is going to be the fifth consecutive quarter of earnings decline for the S&P 500 index.
As of Aug 4, earnings and revenues of the S&P 414 companies that have already reported results are down 4.5 and 1% year over year, respectively. Earnings for the whole index are expected to decline 3.1% on 4.1% lower revenues.
However, not all sectors have performed badly. While Technology sector earnings have declined 0.8% year over year, sales have risen 2.6% for the quarter.
On Aug 8, we will see earnings reports from a few electronics companies within the tech sector. These include BWX Technologies, Inc. (BWXT - Free Report) , Rogers Corporation (ROG - Free Report) and IDI, Inc .
BWX Technologies, Inc., which supplies precision manufactured components and services to the commercial nuclear power industry, has been delivering better-than-expected results for the last three quarters. However, it has a four-quarter average negative earnings surprise of 3.42%. For this quarter, this Zacks Rank #3 (Hold) company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 38 cents.
Rogers Corporation manufactures and sells specialty polymer composite materials and components. For the quarter, the company has an Earnings ESP of 0.00% and a Zacks Rank #3. The Zacks Consensus Estimate for the quarter is pegged at 86 cents. Last quarter, the company posted a positive earnings surprise of 54.10%. Notably, Rogers has surpassed the Zacks Consensus Estimate in each of the last four quarters with an average positive surprise of 33.24%.
IDI, Inc., a relatively smaller player in the electronics market, provides information solutions focusing on the data fusion market. This Zacks Rank #3 company is yet to make a profit. For this quarter, both the Most Accurate estimate and the Zacks Consensus Estimate stand at a loss of 12 cents resulting in an Earnings ESP of 0.00%. The combination of 0.00% ESP and a Zacks Rank #3 makes it difficult to predict a surprise in the to-be reported 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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