Total S&P 500 earnings for the second quarter of 2026 are currently expected to grow 22.3% from a year earlier on 11% higher revenues, with 11 of 16 Zacks sectors projected to post positive earnings growth. The overall earnings picture remains strong and broad-based, supported by positive estimate revisions for the current and upcoming quarters. The Energy sector, which accounts for only about 6% of total S&P 500 earnings in 2026, is expected to more than double its earnings from the prior year, though estimates may trend down as oil prices settle following the Iran war. Excluding the Energy sector, aggregate Q2 earnings estimates would still be positive since the start of April, but they would decline if both Energy and Tech sector increases were removed. Full-year 2026 S&P 500 earnings are expected to grow 21.1%, or 12.6% excluding the Tech sector, with Nvidia and Micron as material contributors to Tech's growth.
Micron Technology IncMicron is cited as a material contributor to Tech sector earnings growth, implying strong earnings performance.
NVIDIA CorporationNvidia is cited as a material contributor to Tech sector earnings growth, implying strong earnings performance.