Yahoo Finance
The S&P 500 (^GSPC) is not just beating Q1 earnings expectations.
This earnings season is shaping up as one of the index’s strongest in 20 years, with profit growth accelerating, beat rates running hot, and analysts lifting estimates instead of cutting them.
The catch is that Wall Street may already be treating great earnings as the new floor.
Deutsche Bank is calling this“one of the best earnings seasons in 20 years,” and the charts show why.
The share of S&P 500 companies beating earnings estimates is running well above normal, while quarterly profit growth is tracking near 25% — more than double the typical pace outside recessions.
FactSet’s latest scorecardtells a similar story.
As of early May, 84% of S&P 500 companies had beaten earnings estimates, 81% had beaten revenue estimates, and Q1 earnings growth was tracking at 27% — up sharply from 13% at the end of the quarter.
That’s not just a low bar getting cleared.
The bigger tell is what is happening to future earnings estimates.
Analysts usually spend much of the year trimming forecasts as reality catches up with optimism.
This time,Bank of America datashows 2026 and 2027 S&P 500 earnings estimates rising sharply instead.
Goldman Sachs highlights thesame reset underway.
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