Will Big Oil See Better Earnings In Q2?

We are nearly halfway through the earnings season, with 46% of S&P 500 companies having returned their first quarter scorecards. According to FactSet data, 77% of S&P 500 companies have exceeded earnings expectations while 60% have reported a positive revenue surprise.  Unfortunately, the energy sector has underperformed the market, thanks in large part to lower oil and gas prices. The Energy sector is reporting the second-largest (year-over-year) earnings decline of all 11 market sectors at -25.5% while Q1 2024 revenue growth…