EARNINGS EXCELLENCE

With limited government data, 25Q3 corporate earnings are receiving outsized attention. Of the 304 Fortune 500 firms reporting so far, 83% have topped analysts’ earnings estimates, and by a wide margin. These results are especially positive given recent bankruptcies of First Brands and Tricolor. EPS is up 13% Y-o-Y, versus 7% expected. A weak dollar and falling rates clearly help. Sales are expected to rise 8% Y-o-Y, fastest since 22Q3.