May 11, 2021Filed under: Weekly Market Commentary

AMAZING EARNINGS SEASON

Jeffrey Buchbinder, CFA, Equity Strategist, LPL Financial Ryan Detrick, CMT, Chief Market Strategist, LPL Financial

Written by

Boone Wealth Advisors

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It’s embarrasing to admit this but in our earnings season preview on April 12, when the consensus
estimate reflected a nearly 24% increase, we wrote that S&P 500 Index earnings growth for the first
quarter could potentially exceed 30%. Fast forward to today and earnings growth for the quarter is
on pace to double—yes, double—that 24% growth rate, which would mark one of the biggest upside
surprises ever recorded. Here we look at how corporate America produced such a blowout earnings
season and what it could mean for the outlook.

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