Get Bespoke’s 2017 Outlook Report with a 30-day free trial to Bespoke’s premium research! Click here to learn more.
Just under 200 companies have reported earnings so far this season, which is only a tenth of the total amount that will have reported by the time the season ends in mid-February. Even still, we’re tracking the beat rates for earnings per share and revenues already, and we show them in the charts below.
As shown in the first chart, 67% of companies that have reported so far this season have posted better-than-expected earnings per share numbers. This would be a high reading relative to the low-60s that we’ve seen over the last six years if it were to hold up throughout earnings season, but we typically see the beat rate drift lower as more and more companies report.
The revenue beat rate this season only stands at 57%, which is ten percentage points lower than the bottom-line earnings beat rate. 57% is a relatively low reading, so it will be worth monitoring as earnings season progresses.
Below is a look at the stocks that have reported this earnings season that have posted the biggest one-day gains and losses on their respective report days. For companies that report in the morning before the open, we use that day’s change. For companies that report in the evening after the close, we use the next day’s change.
As shown, Allegheny Tech (ATI) has posted the biggest gain with a one-day move of +20.42%. MarineMax (HZO) ranks second with a gain of 16.76%, followed by Skyworks (SWKS) at +13.01%. Mercury (MRCY) and II-VI (IIVI) round out the top five with gains of just over 10%.
On the downside, VOXX International (VOXX) has posted the biggest decline on earnings this season with a one-day drop of 15.09%. Acuity Brands (AYI) ranks second worst with a drop of 14.68%, followed by Progress Software (PRGS) at -14.33%. WD-40 (WDFC), Infosys (INFY), Supervalu (SVU), Comerica (CMA), and Verizon (VZ) are additional names on the list of losers that are noteworthy.