More Proof Q3 Earnings Didn't Collapse

family dollar store

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.

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