Were analysts swayed by Hurricane Irene?

During the past week, much of the eastern coast of the United States continued to recover from the damage caused by Hurricane Irene. Given the lost business and property damage, have analysts made any revisions to EPS estimates for companies in the S&P 500 due to the hurricane to date? 

The answer is no.

Over the past week, there has been little change to the expected third quarter earnings growth rate for the S&P 500 as a whole, and little change to the earnings growth rates for sub-industries in retail, insurance and utilities as well.

Overall, the expected earnings and revenue growth rates for the third quarter are 14.4% and 10.2%. The Energy and Materials sectors are predicted to see the highest earnings and revenue growth rates for the quarter.

Looking at earnings guidance, 69 companies have issued negative EPS guidance and 34 companies have issued positive EPS guidance for the quarter.

This week, one company in the S&P 500 is schedule to announce earnings results for the second quarter.

Read more about growth rates, guidance, and earnings in this week's edition of FactSet Earnings Insight.

All of the data used to compile FactSet Earnings Insight is available in the FactSet workstation.