UBS said that Q3 earnings season may not be as dismal as some are expecting. They analysed 19 firms that released quarterly numbers since August 1 and found average earnings were 3% above consensus.
This morning, three big companies announced inline or better-than-expected earnings, further supporting the prediction that Q3 earnings season won’t be too bad.
Family Dollar earnings topped Wall Street estimates by $0.03.
At McCormick, revenue jumped 16% to $920.4 million for the quarter. Earnings came in at $0.69 a share, five cents above analysts’ estimate.
Darden had revenue up 7.5% to $1.94 billion, even as earnings fell 5.75%. However, earnings per share of $0.78 matched the Street’s view. Darden attributed part of the decline to Hurricane Irene.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.