Last night, Alcoa kicked off second quarter earnings season with a beat.
Over the next several weeks, earnings reports will roll in with 72% of the S&P 500 set to announce quarterly results over a three-week period beginning July 14.
In a note to clients ahead of earnings, Goldman Sachs’ Amanda Sneider highlights 22 companies the firm expects to beat expectations.
Many of the expected beats are just by a penny or three, but there are a few companies Sneider expects to soundly beat street estimates.
Goldman sees healthcare giant McKesson reporting a profit of $US2.65 per share against Wall Street’s current expectations for $US2.36.
In the energy sector, Goldman also sees a number of companies beating expectations, notably CONSOL Energy, which the firm expects to report earnings per share of $US0.37 against Street estimates for $US0.26.
By sector, Goldman sees the most earnings beats coming from the Information Technology, Consumer Discretionary, Financial, and Energy sectors.
Here’s the full table.