NEW YORK--companies have found a new way to surprise analysts: they sell more stuff.
Three of the four S & P index companies that reported earnings this quarter beat sales by Wall Street analysts forecast. And some companies are not just squeaking ahead of expectations. Fifteen percent of companies that exceeded the estimates made by at least 10 percent, the standard & poor.
More companies are beating forecasts of sales than at any other time since the end of the recession in June 2009. This surprise just eight quarters straight to beat analyst profit forecasts.
Analysts often underestimate the profits when the companies reduce costs in ways that are not easy to measure externally. But these same experts are rarely errors with the income projections. This is because many analysts have developed highly reliable systems, refined to estimate sales, ranging from counting the cars in a parking lot of complex mathematical models.
Why many experts were wrong?
Analysts have been much too worried that gasoline prices high, uprisings in the Middle East and the Libya and spin-offs of earthquake in the Japan would result in less business and consumer spending. Instead, consumers spend more on everything from tickets for oranges.
Positive surprises sales indicate that consumers and businesses are absorbent things like the increase in food prices and gas - and still spending on products of first necessity. So far this quarter, two of all three companies who hunt the discretionary spending of consumers on such things as the dresses, motorcycles and excursions even in Las Vegas has introduced more revenue that investors should. All things considered, sales could signal a healthier than investors thought economic recovery.
"It seems that all the caution was not justified," said Jonathan Golub, Chief U.S. strategist at UBS.
The surprises of income are one of the reasons why the S & P index increased 2.8 percent to 1,363.61 for the moment in the second quarter and 8.4% for the year to date. The S & P index increased by an average of 9.6% a year over the past 25 years, according to FactSet. A gain of 8% in just four months means that the S & P could top gain of 12.8% last year, if it continues to increase.
Good number of revenue surprises came among the industrial companies, materials and technologies that produce everything from bulldozers to cell phones. These three groups generally do well in an economic boom as companies ramp production - another sign of a recovery in better health. Eighteen of the 21 industrial companies in the S & P 500 which pulled the bat earnings estimates sales of 5%, according to UBS.
Some companies, such as Apple Inc., would be a estimates sales by even more if it was not production delays have beat. The company made 1.3 billion dollars in sales that analysts of $ 23.4 billion expected after record sales of its new range of iPads. "We sold each iPad (2) that we could do", Peter Oppenheimer, Chief Financial Officer of the company, said in the appeal of revenues of the company.
Other companies said that higher incomes cause them to expand. On Tuesday, Amazon.com Inc. said that it generated 300 million sales more than $ 9.5 billion analysts predicted. The company missed profit expectations because it is spending money on warehouses and upgrade its technology. "" We find simply tremendous growth, and because of this, we will invest in a high-capacity of "said Thomas Szkutak, Amazon Chief Financial Officer analysts say."
It remains to be seen if these gains are sustainable. So far, new payroll tax relief could be masking pain to extractions of gas and food to consumers. Year 2 percentage break points means an average of over net salary of $695 for about 159 million workers.
But more price increases are coming. Giant products household that Procter & Gamble said Thursday that it plans to increase prices this summer on points as head of the shoulders & shampoo, Iams pet food and detergent dish Cascade. McDonald Corp., too, rising prices due to higher cost of food. These increases follow others who came in the second half of 2010, the first recession rising prices.
Companies hope that consumers remain enough confidence in the economy to absorb these increases and still spend on products of first necessity. If they, that could make these surprises sales - leading profit margins near some of the highest levels in two decades - are a phenomenon in the short term.
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