S&P 500 earnings, week of May 15: 16 companies to report

Sixteen members of the S&P 500 are set to report quarterly earnings during the week of May 15, according to S&P Global Market Intelligence data.

Monday, May 15: 1 company to report

Analysts expect Catalent Inc. to report a year-over-year normalized earnings per share drop of 43.6% to 59 cents for the quarter ended March 31.

Tuesday, May 16: 2 companies to report

Home improvement retail company The Home Depot Inc. is expected to report EPS of $3.82, a 6.7% drop from the year-ago period.

Keysight Technologies Inc. is expected to report a 6.5% gain in normalized EPS to $1.95.

Wednesday, May 17: 6 companies to report

Analysts expect gaming company Take-Two Interactive Software Inc.'s quarterly EPS to fall by 43.1% to 67 cents for the quarter. The drop is the sharpest for the S&P 500 companies reporting during the day, according to Market Intelligence data.

Analysts expect another retail company, Target Corp., to report a year-over-year EPS decline, with a quarterly estimate of $1.80, some 21.7% lower than the year-ago quarter.

Thursday, May 18: 6 companies to report

DXC Technology Co. is expected to post the highest year-over-year change in quarterly EPS among companies reporting during the day, with a 23.4% gain to reach $1.04.

Bath & Body Works Inc., meanwhile, is expected to report the steepest year-over-year decline of the day, with quarterly EPS falling 59.8% to 26 cents for the quarter.

Friday, May 12: 1 company to report

Deere & Co. will conclude the earnings week with an expected EPS of $8.41, a 27.5% gain from the same quarter of 2022.

Sector outlook

Overall, the S&P 500 is expected to report a 6.4% year-over-year drop in quarterly EPS. The small chunk of sectors that are leading the growth trend includes consumer discretionary with an estimate of 19.5%, followed by industrials with 15.1% and energy with 11.1%.

The materials and real estate sectors are expected to report EPS declines of more than 25% compared to the same quarter in 2022.

Notable earnings, week of May 8

Duke Energy Corp. reported earnings on May 9 that fell 7% year over year to $1.20, missing the consensus estimate of $1.26. The company's reported total revenue of $7.28 billion, however, was above the consensus estimate of $6.26 billion.

Also in the week of May 8, Fox Corp. posted an EPS of 94 cents, beating the consensus earnings estimate of 88 cents per share. Its reported revenue of $4.08 billion was also above the consensus estimate of $4.03 billion.

The annual total returns of shares in both companies, however, are trailing the broader market. Total return on Duke Energy's stock was down 5.3% in the year ending May 11, while Fox's was down 4.7%. Over the same 12 months, the S&P 500 returned 7%, according to Market Intelligence data.