Bloomberg News

Summary of Reported EPS for Fourth Quarter of ’11 for S&P 500

February 28, 2012

The following are the cumulative earnings per share results for the fourth quarter of 2011 for companies in the Standard & Poor’s (SPX) 500 Index. The earnings included in the fourth quarter is based on companies announced quarter ended date in the period of Nov. 16 to Feb. 15 and were as of index members on December 30 (the last day of the quarter).

Weighted and non-weighted averages are year-over-year percent changes. Share-weighted averages are based upon diluted shares outstanding of each compared quarter. Market capitalization weighted averages are based upon the market capitalization as of the close on December 30, 2011. The percentages calculations are based on earnings from continuing operations excluding gains, charges and one-time items.

Adjusted earnings calculations for the index are based on income from continuing operations excluding items. Net income (as reported) earnings are based on net income including charges and discontinued operation. Earnings figures are diluted. Earnings estimates are provided by Bloomberg. Following is the summary:


==========================================================================
                                           SHARE-     MKT-CAP     NON-
                                          WEIGHTED   WEIGHTED  WEIGHTED
THE S&P 500 UNIVERSE:                      % CHG      % CHG      % CHG
==========================================================================

TOTAL REPORTED Q4/11   484@  GAIN/LOSS:      5.1%      31.4%     11.1%
TOTAL UP  EPS          332   AVG. UP:       21.6%      43.0%     33.9%
  REVERSALS UP           6^
TOTAL DOWNEPS          143   AVG. DOWN:    -37.1%     -26.3%    -32.4%
  REVERSALS DOWN         9^
UNCHANGED EPS            9
TOTAL EX-FINANCIAL:    404   GAIN/LOSS:      7.3%      28.4%      9.9%

==========================================================================
YEAR-OVER-YEAR COMPARISONS**:
==========================================================================

ADJUSTED Q4/11 EARNINGS OF 484/500:                            $24.36#
Q4/10 EARNINGS FOR S&P 500:                                    $23.15
PCT. CHANGE OF ADJUSTED EARNINGS TO Q4/10 EARNINGS:              5.23%
==========================================================================
YEAR-OVER-YEAR COMPARISONS**:
==========================================================================

NET INCOME (AS REPORTED) Q4/11 EARNINGS OF 484/500:            $18.96#
Q4/10 NET INCOME EARNINGS FOR S&P 500:                         $21.42
PCT. CHANGE OF NET INCOME EARNINGS TO Q4/10 EARNINGS:          -11.48%

==========================================================================
DISTRIBUTION OF EARNINGS SURPRISES:***
==========================================================================

POSITIVE SURPRISES:    302/482 = 62.7%
% of Surprises:                        EPS Differences (Actual-Estimate):
      (0% to 10%):     205             (1 cent):                     45
     (10% to 20%):      51             (2 cents):                    53
     (20% to 30%):      12             (3 to 4 cents):               64
     (30% to 40%):      14             (5 to 9 cents):               70
     (40% to 50%):       6             (10 to 19 cents):             36
  (more than 50%):      13             (20 to 49 cents):             26
       % chg NM          1             (50 cents or more):            7
==========================================================================
DISTRIBUTION OF EARNINGS SURPRISES:***
==========================================================================

0% SURPRISES:           47/482 = 9.8%

NEGATIVE SURPRISES:     133/482 = 27.6%
% of Surprises:                        EPS Differences (Actual-Estimate):
       (-10% to 0%):    81             (-1 cent):                    29
     (-20% to -10%):    22             (-2 cents):                   16
     (-30% to -20%):    11             (-3 to -4 cents):             22
     (-40% to -30%):     4             (-5 to -9 cents):             30
     (-50% to -40%):     3             (-10 to -19 cents):           17
   (less than -50%):     7             (-20 to -49 cents):           14
         % chg NM        5             (-50 cents or less):           4
==========================================================================

*-- Up reversals reflect companies which reported per-share profits this year against losses a year earlier. Down reversals reflect losses this year and gains last year.

***-- Washington Post and Leucadia National do not have Q4’11 estimates, hence the surprises numbers are less than the total reported numbers.

^-- Included in the total up/down eps counts.

To contact the reporter on this story: Wendy Soong in New York at csoong@bloomberg.net

To contact the editor responsible for this story: Alex Tanzi at at atanzi@bloomberg.net


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