Over two-thirds of the 388 companies in the S&P 500 that reported calendar fourth-quarter 2019 earnings through Feb. 13 surpassed Wall Street's expectations.
Altogether, the companies reported a 9.1% EPS surprise for the fourth quarter, with over one-third of the companies posting double-digit EPS growth year over year.
Among the 11 S&P 500 sectors, six are expected to show year-over-year EPS gains for the calendar fourth quarter, while five are expected to report declines. The financial sector is expected to post the largest gain at 14.2% year over year, while EPS is expected to decline by 42.0% in the energy sector.
CVS Health Corp. reported earnings of $1.73 per share, beating the consensus estimate of $1.68 per share, even as total earnings fell 19.2% year over year. Meanwhile, revenue jumped 22.9% to $66.89 billion, which was above the consensus estimate of $63.97 billion.
Insurer American International Group Inc. reported $1.03 in EPS, beating the consensus estimate of $1.00. Nonetheless, AIG's shares tumbled 6.2% Thursday as shareholders grew concerned over the company's 2020 guidance.