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SPX Earnings Scorecard

04/29/2013

Joe T’s blog for 4/29/13 posting

SPX Earnings Scorecard

As of Friday, April 26, 2013, 270 S&P 500® (SPX) companies had reported earnings for the first calendar quarter of 2013. Last week’s 170 companies reporting completed the largest earnings week of the season. Overall SPX sales growth did moderate last week, to -3.40% from +2.1% the previous week. However, the SPX traded (Figure 1.1) remarkably resiliently, advancing +1.74% on the week to a Friday closing price of 1582.24.

For the week of April 28, another 137 SPX companies will be reporting. As usual, Monday will be a light reporting day with only nine companies reporting. Tuesday presents 40 companies, Wednesday, the first of May, another 41, and Thursday, 34 companies. The week closes out on Friday with 13 companies reporting just before the monthly U.S. Labor report is released.  

Speaking of the Friday labor report, expectations are high with consensus estimates for the headline figure at +150,000, up from last month’s actual +88,000. Private payroll estimates are at +160,000 to +175,000, up also from last month’s +95,000. The unemployment rate looks unchanged at 7.6%

 Q1 2013 SPX EARNINGS TO DATE

SPX Sector

# of Companies Reported

# of Companies Yet to Report

Actual Sales Growth

Estimated Sales Growth

Actual EPS Growth

Estimated EPS Growth

Overall SPX

270

230

(-3.4%)

+1%

+1.94%

+1%

Consumer Discretionary

38

44

+7.71%

+7%

+8.3%

+8%

Consumer Staples

20

22

+2.75%

(-1%)

+6.79%

+2%

Technology

41

29

+6.61%

+4%

(-2.21%)

+1%

Industrials

41

19

(-1.5%)

(-4%)

(-0.23%)

(-5%)

Telecom

5

3

+1.37%

+3%

+10.36%

+15%

Utilities

7

24

+8.01%

+2%

+17.43%

+6%

Materials

19

11

(-3.08%)

+7%

+5.1%

+11%

Energy

23

20

(-25.09%)

+1%

(-6.15%)

+1%

Financials

47

34

+0.30%

+6%

+10.37%

+40%

Health Care

29

24

+1.66%

+4%

(-3.06%)

+5%

Source: Bloomberg

 

Figure 1.1 S&P 500 Index (SPX) Year To Date

 

Source: Bloomberg

 

EARNINGS CALENDAR – WEEK OF APRIL 29, 2013

Monday, April 29 - 9 companies

Ticker

Estimate

Roper Industries Inc

ROP US

1.22

Eaton Corp PLC

ETN US

0.78

Loews Corp

L US

0.84

Hartford Financial Services Group Inc

HIG US

0.82

Newmont Mining Corp

NEM US

0.77

Plum Creek Timber Co Inc

PCL US

0.32

Express Scripts Holding Co

ESRX US

0.98

Masco Corp

MAS US

0.14

Jacobs Engineering Group Inc

JEC US

0.83

 

 

Tuesday, April 30 - 40 companies

Ticker

Estimate

NYSE Euronext

NYX US

0.56

Tenet Healthcare Corp

THC US

0.31

NiSource Inc

NI US

0.71

MeadWestvaco Corp

MWV US

0.24

Valero Energy Corp

VLO US

1.00

AGL Resources Inc

GAS US

1.34

Pfizer Inc

PFE US

0.55

Avon Products Inc

AVP US

0.13

Cummins Inc

CMI US

1.86

Ecolab Inc

ECL US

0.59

Ensco PLC

ESV US

1.30

NextEra Energy Inc

NEE US

1.02

Wisconsin Energy Corp

WEC US

0.71

HCP Inc

HCP US

0.72

Starwood Hotels & Resorts Worldwide Inc

HOT US

0.53

Fidelity National Information Services Inc

FIS US

0.61

Aetna Inc

AET US

1.38

Harris Corp

HRS US

1.12

Xylem Inc/NY

XYL US

0.26

Legg Mason Inc

LM US

0.20

McGraw-Hill Cos Inc/The

MHP US

0.74

Public Service Enterprise Group Inc

PEG US

0.74

Invesco Ltd

IVZ US

0.47

Pitney Bowes Inc

PBI US

0.44

Franklin Resources Inc

BEN US

2.49

Western Union Co/The

WU US

0.32

Equity Residential

EQR US

0.65

ONEOK Inc

OKE US

0.59

TECO Energy Inc

TE US

0.17

Boston Properties Inc

BXP US

1.21

Hudson City Bancorp Inc

HCBK US

0.11

Genworth Financial Inc

GNW US

0.28

FMC Corp

FMC US

1.07

QEP Resources Inc

QEP US

0.30

Fiserv Inc

FISV US

1.34

AvalonBay Communities Inc

AVB US

-0.63

Marathon Petroleum Corp

MPC US

2.18

Edison International

EIX US

0.66

United States Steel Corp

X US

-0.20

Life Technologies Corp

LIFE US

1.05

 

 

Wednesday, May 1 - 41 companies

Ticker

Estimate

Time Warner Inc

TWX US

0.74

Devon Energy Corp

DVN US

0.56

Hospira Inc

HSP US

0.44

Coventry Health Care Inc

CVH US

0.81

Rowan Cos Plc

RDC US

0.52

Clorox Co/The

CLX US

1.05

Iron Mountain Inc

IRM US

0.27

Chesapeake Energy Corp

CHK US

0.25

ADT Corp/The

ADT US

0.43

Mastercard Inc

MA US

6.17

Garmin Ltd

GRMN US

0.41

Delphi Automotive PLC

DLPH US

0.96

CVS Caremark Corp

CVS US

0.79

Merck & Co Inc

MRK US

0.79

Humana Inc

HUM US

1.80

American Tower Corp

AMT US

0.82

Sealed Air Corp

SEE US

0.18

Phillips 66

PSX US

1.89

Unum Group

UNM US

0.78

Allstate Corp/The

ALL US

1.30

Marriott International Inc/DE

MAR US

0.40

Northeast Utilities

NU US

0.66

Pioneer Natural Resources Co

PXD US

0.97

Archer-Daniels-Midland Co

ADM US

0.51

Visa Inc

V US

1.81

Tesoro Corp

TSO US

0.74

CBS Corp

CBS US

0.68

JDS Uniphase Corp

JDSU US

0.11

Seagate Technology PLC

STX US

1.16

Integrys Energy Group Inc

TEG US

1.60

Prudential Financial Inc

PRU US

1.88

Kimco Realty Corp

KIM US

0.32

Lincoln National Corp

LNC US

1.10

MetLife Inc

MET US

1.30

Murphy Oil Corp

MUR US

0.98

Allergan Inc/United States

AGN US

0.96

Exelon Corp

EXC US

0.68

Viacom Inc

VIAB US

0.95

IntercontinentalExchange Inc

ICE US

1.97

Expeditors International of Washington Inc

EXPD US

0.40

Comcast Corp

CMCSA US

0.51

 

 

Thursday, May 2 - 34 companies

Ticker

Estimate

Xcel Energy Inc

XEL US

0.45

Airgas Inc

ARG US

1.13

Scripps Networks Interactive Inc

SNI US

0.74

PG&E Corp

PCG US

0.70

WPX Energy Inc

WPX US

-0.23

PPL Corp

PPL US

0.70

Becton Dickinson and Co

BDX US

1.35

Quanta Services Inc

PWR US

0.31

Denbury Resources Inc

DNR US

0.29

Actavis Inc

ACT US

1.86

Vulcan Materials Co

VMC US

-0.34

Estee Lauder Cos Inc/The

EL US

0.33

Ameren Corp

AEE US

0.28

Cardinal Health Inc

CAH US

0.96

CenterPoint Energy Inc

CNP US

0.37

CME Group Inc/IL

CME US

0.73

International Paper Co

IP US

0.74

Marsh & McLennan Cos Inc

MMC US

0.69

Cigna Corp

CI US

1.43

Harman International Industries Inc

HAR US

0.61

Kellogg Co

K US

1.02

Sempra Energy

SRE US

1.02

Kraft Foods Group Inc

KRFT US

0.64

Gilead Sciences Inc

GILD US

0.50

Mylan Inc/PA

MYL US

0.62

American International Group Inc

AIG US

0.88

Fluor Corp

FLR US

0.96

Dun & Bradstreet Corp/The

DNB US

1.40

Teradata Corp

TDC US

0.54

Southwestern Energy Co

SWN US

0.38

XL Group PLC

XL US

0.64

Apartment Investment & Management Co

AIV US

0.46

Beam Inc

BEAM US

0.54

Microchip Technology Inc

MCHP US

0.47

 

 

Friday, May 3 - 13 companies

Ticker

Estimate

Newell Rubbermaid Inc

NWL US

0.32

Automatic Data Processing Inc

ADP US

0.98

Moody's Corp

MCO US

0.88

Spectra Energy Corp

SE US

0.48

Pepco Holdings Inc

POM US

0.23

Host Hotels & Resorts Inc

HST US

0.23

Duke Energy Corp

DUK US

1.04

Pinnacle West Capital Corp

PNW US

0.09

Berkshire Hathaway Inc

BRK/A US

2014.24

Consolidated Edison Inc

ED US

1.05

First Solar Inc

FSLR US

0.75

Washington Post Co/The

WPO US

 

Leucadia National Corp

LUK US

 

Source: Bloomberg

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.