LIVE MARKETS-S&P 500 company guidance for 3rd quarter on pace with 2nd, year-ago quarters

ReutersSep 12, 2025 4:57 PM

S&P 500 flat, Nasdaq up, Dow dips
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S&P 500 COMPANY GUIDANCE FOR 3RD QUARTER ON PACE WITH 2nd, YEAR-AGO QUARTERS

Negative outlooks from S&P 500 companies for the third quarter are outpacing positive ones by a ratio of 1.4 to 1, putting the ratio in line with the year-ago third quarter and close to this year's second-quarter ratio of 1.5 to 1, according to LSEG data as of Friday.

Still, it's more positive than long-term negative-to-positive ratios. The average ratio since 1997 is 2.5 to 1 and the prior four quarter average is 2.1 to 1, Tajinder Dhillon, senior research analyst, analytics, at LSEG Data & Analytics writes in a note Friday.

Not every company in the S&P 500 gives guidance. For the third quarter, there are 66 negative outlooks so far compared with 46 positive ones. For the third quarter of 2024, there were 56 negative outlooks and 40 positive ones. For the second quarter of this year, there were 66 negative ones versus 44 positive ones.

Analysts estimate third-quarter earnings growth for the S&P 500 at 8.5% year-over-year, as of Friday, up slightly from 8.0% on July 1 and down sharply from 12.4% on April 1.

Companies typically beat analysts' earnings estimates when they report results, as was the case with second-quarter earnings, where earnings increased 13.3% from a year ago, compared with an estimated 5.8% at the start of July.

(Caroline Valetkevitch)

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