Peak Earnings Season: What an 86% Beat Rate Tells Us
The numbers from Q2 2026 earnings season are genuinely historic. With 61% of S&P 500 companies now reported, 86% have beaten EPS estimates, according to FactSet data through July 31. That is the highest beat rate since Q2 2021, and it sits well above the five-year average of 78%. The S&P 500 has responded by trading near 7,600 points, within a fraction of its 52-week high. Key Takeaways 86% of reporting S&P 500 companies beat EPS estimates in Q2 2026, the highest rate since Q2 2021 and 8 percentage points above the five-year average of 78%. Blended year-over-year earnings growth stands at 47.4%, though stripping out one-time valuation gains at Alphabet and Amazon brings that figure to 28.8%.…
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