Twenty-three companies in the S&P 500 had reported earnings for the third quarter as of Oct. 11, and of those, 87% beat Wall Street earnings expectations, according to S&P Global Market Intelligence's analyst polling.

Collectively, the 23 constituents reported an EPS surprise of 6.0% for the third quarter. Of those, 56.5% reported double-digit or better year-over-year growth.

The blended growth rate for the S&P 500, which reflects all sectors on an aggregate level, for the third quarter was down 4.2% as of Oct. 11. Sectors leading the growth trend include financials with 2.3%, healthcare with 1.8% and industrials with 1.0%.

Companies that are expected to report the largest earnings growth for the third quarter include Welltower Inc. with 341.3%, CF Industries Holdings Inc. with 275.1% and SBA Communications Corp. with 151.2%.

Companies with the most upward revisions for the quarter include Seagate Technology PLC with 20 upward revisions, Intercontinental Exchange Inc. with 12 upward revisions, alongside American Airlines Group Inc. and Southwest Airlines Co., with 10 upward revisions each.

Meanwhile, companies expected to report the largest percentage change in EPS for the third quarter include Seagate Technology PLC with 9.8%, Assurant Inc. with 8.1% and MarketAxess Holdings Inc. with 7.6%.

Companies with the greatest potential upside based on S&P Capital IQ consensus target prices as of Oct. 11 include DXC Technology Co. with 88.0%, Diamondback Energy Inc. with 70.0% and Concho Resources Inc. with 67.6%.