Friday, February 2, 2024

Yes, yes: everybody knows that the economy is humming along these days and corporate earnings are doing well — but precisely how well, you ask? We have some data for you.

Calcbench has been tracking Q4 earnings among the S&P 500, pulling in data as companies file. (As recently as Friday morning, a few hours before this post, when Bristol Myers Squibb ($BMY) filed its earnings at 7:47 a.m.) 

The result is Figure 1, below, which compares the collective year-over-year Q4 earnings for 212 firms in the S&P 500 that have filed so far. 

Because we’re dealing with such large amounts, perhaps showing the data in table format might be helpful too. See Figure 2. 

So revenue drifted upward only 2.69 percent, but net income shot up 14.36 percent. (This is GAAP-approved net income, by the way, not the non-GAAP adjusted earnings that can be framed in very flattering light.) 

We will continue to update our numbers weekly as earnings season progresses. Of course, you can also conduct your own analysis using any of the Calcbench database tools. If Calcbench subscribers wish to get their hands on the spreadsheet used for the data here, please use this link to the file. Please note that it will only work with an active Calcbench subscription.

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