S&P 500 earnings season starts strong with 33 companies beating EPS estimates

All 33 companies that reported S&P 500 earnings early this quarter managed to beat consensus EPS estimates. That’s not a typo. A perfect 33 for 33.

For context, the typical EPS beat rate over the past five to ten years hovers around 76-78%. Hitting 100% on the first batch of reporters is the corporate earnings equivalent of bowling a 300 in your opening frame of the season.

The numbers behind the streak

According to FactSet data, roughly 88-89% of early-reporting S&P 500 companies had delivered positive EPS surprises as of July 10. Aggregate earnings exceeded analyst projections by approximately 14.5%.

The blended earnings growth forecast for Q2 2026 now sits at approximately 23.3-23.6% year-over-year.