S&P 500 Guidance Is Skewing Strongly Positive

Corporate guidance across the S&P 500 remains surprisingly strong.
Of 252 companies that have provided a directional update:
173 raised guidance.
59 maintained it.
Only 20 cut.
The strongest signal is still near-term revenue.
57% of companies guided next-quarter revenue above Wall Street estimates, with a median upside spread of 2.7%.
Next-quarter EPS guidance is also constructive, with 43% coming in above consensus and a median spread of 1.4%.
For full-year expectations, 41% of revenue guides are above the Street, while 38% of EPS guides are ahead.
The takeaway is important:
Despite high rates, geopolitical risk and persistent macro uncertainty, corporate management teams are not behaving like they expect an imminent earnings downturn.
Near-term revenue guidance remains the strongest part of the picture.
For now, the fundamental backdrop underneath the S&P 500 still looks resilient.