Total S&P 500 earnings for Q3 2026 are projected to rise by 24% year-over-year, driven by an 11.3% increase in revenues. Fourteen of the sixteen Zacks sectors are forecasted to show earnings growth, with six sectors recording double-digit increases. This marks the eighth consecutive quarter of double-digit earnings growth for the S&P 500.
Since the beginning of Q3, earnings estimates have been revised upwards for half of the Zacks sectors, with the Conglomerates sector standing out as the only one expected to see a decline of 35.4% in earnings compared to the previous year. The Tech sector, supported by companies like Micron and Nvidia, continues to significantly contribute to overall growth, with Q3 earnings expected to rise by 42% if these companies are included.
The Energy sector has notably benefited from heightened oil prices, leading to the most significant upgrades in earnings outlooks during Q3. Overall, if Tech and Energy sectors are excluded, the earnings growth for the S&P 500 is projected to decrease to 14.5%.
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