Earnings season is just about wrapped up.
So what happened?
These four charts from BofA/ML tell the story really nicely.
First, over the last month or so, no industry has upped its earnings guidance more than materials.
Overall, 44% of companies beat earnings and sales estimates this quarter. Only 17% missed.
Meanwhile, Healthcare and industrials were the companies that most frequently beat.
And no industries have grown earnings faster than materials and energy.
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