Our Forecasts: 3Q24 Earnings

Our machines project that, as a group, S&P 500 companies will register a 5.22% (+/- 0.40%) year-over-year (YoY) rise in revenue for the third quarter of 2024. Most industries are set for revenue growth acceleration, defined as an increase in YoY revenue growth between the second and third quarters of the year. Notably, only three sectors — consumer staples, energy, and real estate — show revenue deceleration. Regarding the year-over-year growth of aggregated earnings before interest, taxes, depreciation, and amortization (EBITDA) for the S&P 500, our models predict it will be in the high single digits, with EBITDA margins expected to remain similar to the prior quarter.

Our algorithms project positive year-over-year revenue growth, with solid mid-single-digit gains. Revenue growth figures appear to have normalized around 5% YoY, similar to the prior quarter, despite challenging comparisons with last year’s strong third-quarter performance. We expect this trend to continue into the fourth quarter. 
 

For access to our fundamental forecasts, contact us at support@odinultra.ai.