For Immediate Release
Chicago, IL – July 13, 2026 – Zacks.com releases the list of companies likely to issue earnings surprises. This week’s list includes JPMorgan JPM, Wells Fargo WFC, Citigroup C and Bank of America BAC.
Q2 Earnings Season Arrives: Can Results Match Upbeat Expectations?
The Q2 earnings season gets going in earnest this week, with almost 70 companies on deck to report results, including 29 S&P 500 members. The big banks dominate this week’s reporting docket, but we also have several bellwethers from other sectors reporting, including Netflix, Johnson & Johnson, UnitedHealth Group, United Airlines, and others.
If you’ve been following our earnings commentary over the past year, you’re already familiar with the "improving earnings narrative" we keep talking about. In plain English: when you look at the S&P 500 as a whole, aggregate profit estimates are consistently trending upward.
For over a year, the Tech sector single-handedly carried the torch for these upward revisions. Recently, though, the rally has found reinforcements. The Energy and Basic Materials sectors have vigorously joined the party, largely thanks to a geopolitical bump from developments in the Persian Gulf back in early March.
In fact, the shift in Energy has been spectacular—Q2 earnings estimates for the sector have roughly doubled since April. Utilities and Finance are also enjoying a nice lift, seeing their Q2 expectations climb higher as the quarter progressed.
To give you a bird's-eye view of how this all shakes out, the chart below maps out the total S&P 500 earnings landscape. It highlights current Q2 expectations right alongside actual results from the past four quarters and forecasts for the next four.
With Q2 earnings expectations surging by nearly 7 percentage points over the last three months, the bar has been set exceptionally high. Naturally, some market watchers are getting a bit anxious that companies might trip up and miss these loftier targets in the days ahead. If they do come up short, it could spell trouble for a stock market currently sitting right at all-time highs.
We don't view these earnings expectations as overly ambitious. In fact, there is plenty of underlying fundamental momentum to keep driving profit forecasts higher.
Big Banks in the Spotlight This Week
JPMorgan, Wells Fargo, Citigroup and Bank of America will kick off the Q2 reporting cycle for the Finance sector Tuesday morning.
Estimates for the Finance sector, as well as for these money-center banks, have moved higher since the start of the period, reflecting positive momentum in the core commercial banking business, continued strength in the trading business, and overall stable trends in investment banking activities. Aggregate industry data suggests that JPMorgan, Wells Fargo, Citigroup and Bank of America will likely report their best loan growth numbers in almost three years.
For Wells Fargo, the expectation is of +12.3% EPS growth on +4.7% revenue growth, while Q2 EPS for JPMorgan, Bank of America and Citigroup are expected to increase by +11.3%, +27%, and +38.8% from the same period last year, respectively.
For the Finance sector as a whole, total Q2 earnings are expected to increase by +12.6% from the same period last year on +8.4% higher revenues.
For full-year 2026, total Finance sector earnings are expected to increase by +11.4% compared to +15.3% earnings growth achieved last year and expectations of +9.4% growth in 2027. Please note that these are record aggregate earnings totals for the Finance sector.
Q2 Earnings Season Scorecard
While many in the market will tune in to the Q2 earnings season this week, the reporting cycle is already underway. Through Friday, July 10th, we have already seen quarterly results from 18 S&P 500 members. All of these 18 index members have reported results for their respective fiscal quarters ending in May, which we count as part of our June-quarter tally.
Total earnings for these 18 index members that have reported results are up +143.3% from the same period last year on +24.3% revenue gains, with 88.9% of the companies beating EPS estimates and 77.8% of them beating revenue estimates.
We are not drawing any conclusions from these results, given the small sample size at this stage.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >>>> A Positive Outlook As Q2 Earnings Season Gets Underway
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bank of America Corporation (BAC): Free Stock Analysis Report
Wells Fargo & Company (WFC): Free Stock Analysis Report
JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
Citigroup Inc. (C): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).