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24Q3 Industrials Revenue Growth

As companies begin to report their Q3 2024 earnings in the coming weeks, our Nowcasting analysis of over 130 companies reveals a shift in sector performance from 2024Q2. We find revenue beats in Transportation and Paper Packaging, while Building/Construction and Electrical Equipment Manufacturing are showing underperformance. This contrasts with our Q2 2024 findings, where Building/Construction and Electrical Equipment manufacturing showed revenue outperformance, and Transportation and Paper Packaging lagged.



Across our whole coverage universe we see an average Y/Y revenue growth of 1.2%, closely aligned to consensus average at 1.1%. Approximately 25% of our tracked names are showing a significant surprise relative to consensus. Relative to our historical data, this is a low figure but is consistent with the relationships we see between revenue surprise signals, economic growth, and the quality of our signals (hit rates).



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