FTDS - S&P 500 Q1 2024 Earnings Review: A Good Start To The Year

2024-06-05 07:59:00 ET

Summary

• 2024 earnings are off to a strong start with a resilient Q1 earnings season which exceeded analyst expectations for the fifth consecutive quarter.
• The current earnings growth rate of 8.0% surpassed the start-of-quarter estimate of 5.0%.
• The Magnificent-7 continues to play a significant role, whose aggregate earnings growth rate was 51.7% this quarter.

By Tajinder Dhillon

As earnings season concludes, we review the S&P 500 2024 Q1 earnings season in more detail, providing both aggregate and company-level insights using data from I/B/E/S, StarMine, and Datastream, which are all found in the desktop solution LSEG Workspace.

Earnings Commentary

2024 earnings are off to a strong start with a resilient Q1 earnings season which exceeded analyst expectations for the fifth consecutive quarter. The current earnings growth rate of 8.0% surpassed the start-of-quarter estimate of 5.0%. However, it is important to note that this figure was deflated due to a one-time item from Bristol-Myers Squibb ( BMY ). When adjusting for this anomaly, the adjusted earnings growth rate improves to 11.2%, yielding a 620-basis point improvement throughout the quarter....

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