The corporate reporting calendar is about to shift into high gear, with the largest financial institutions kicking off the third-quarter 2024 earnings season later this week. The deluge of reports will continue in the subsequent week, as companies from the Consumer, Healthcare, and Industrial sectors unveil their quarterly performance. Meanwhile, Information Technology and Energy firms will follow suit later in the period, with Retailers bringing up the rear in mid-November. Analysts anticipate earnings-per-share growth to range from a modest 5% to a more robust 10% for the quarter. This builds upon the 12%-13% EPS expansion in the previous quarter and 8% growth in the first quarter, according to Refinitiv data. The standout performers are expected to be Information Technology, with a projected 15% year-over-year EPS surge, followed closely by Communication Services (12%) and Healthcare (11%). Conversely, the Energy sector is bracing for a 22% decline in earnings, while Materials is expected to experience a 3% drop. On the revenue front, a 4% increase is forecast, driven primarily by Information Technology’s 12% gain and Healthcare’s 7% upswing. As the reporting season unfolds, investors will be keenly watching these trends to gauge the overall health of the market.
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