Advanced Auto Parts and Birkenstock are part of Zacks Earnings Preview
Chicago, IL – August 11, 2025 – Zacks.com releases the list of companies likely to issue earnings surprises. This week's list includes Advanced Auto Parts AAP and Birkenstock BIRK.
3 Key Takeaways from Q2 Earnings Season
As we head into the final phase of the Q2 earnings season, we can say with complete confidence that the overall earnings picture remains strong and resilient. Even more importantly, the outlook for the current and coming quarters has clearly started improving, with the favorable revisions trend particularly notable for the Tech sector.
While we still have a few key Tech sector players among the 9% of S&P 500 members that are still to report results, the primary focus of the still-to-come reports will be on the retail space.
We have a couple of retail-centric companies, such as Advanced Auto Parts and Birkenstock on deck to report this week, but the bulk of the sector results will start coming out the following week.
Here are the three key takeaways from the Q2 earnings season.
First, we saw an above-average proportion of companies beat Q2 EPS and revenue estimates, with the beats percentage particularly notable on the revenues side.
Through Friday, August 8 th, we have seen Q2 results from 455 S&P 500 members, or 91% of the index's total membership. Total earnings for these companies are up +11.6% from the same period last year on +5.9% revenue growth, with 80.4% beating EPS estimates and 79.1% beating revenue estimates.
This is a notably better performance relative to what we have seen from this group of index members in other recent periods.
Second, we are on track for a new all-time quarterly record for the aggregate Q2 earnings total for the S&P 500 index, surpassing the previous record set in 2024 Q4.
Looking at Q2 as a whole, combining the actual results from the 455 index members that have reported already with estimates for the still-to-come 45 companies, total S&P 500 earnings are expected to be up +12.1% from the same period last year on +6.2% higher revenues.
The Q2 earnings growth rate improves to +13.9% when the Energy sector's drag is removed from the results and weakens to +8.5% when the Tech sector's substantial contribution is excluded from the aggregate numbers.
The aggregate dollar total for Q2 is a new all-time quarterly record.
Aggregate earnings are on track to reach $582 billion, up from $556.2 billion in the preceding period, $519.3 billion in the year-earlier quarter, and the previous record of $573.6 billion in 2024 Q4.
Third, the revisions trend has turned positive, with the trend particularly notable for the Tech sector.
For the current period (2025 Q3), the expectation today is for earnings growth of +5.1% for the S&P 500 index on +5.6% higher revenues.
Since the start of July, Q3 estimates have increased for 6 of the 16 Zacks sectors, with the biggest gains for the Tech, Finance, Energy, and Retail sectors.
On the negative side, Q3 estimates have declined for the remaining 10 sectors since the start of the period, with the biggest declines for the Medical, Transportation, Basic Materials, Construction, and Auto sectors.
For the Tech sector, Q3 earnings are currently expected to be up +10.4% from the same period last year on +11.5% higher revenues.
The Earnings Big Picture
In terms of S&P 500 index 'EPS', these growth rates approximate to $257.35 for 2025 and $289.35 for 2026.
For a detailed view of the evolving earnings picture, please check out our weekly Earnings Trends report here >> >> Earnings Outlook Steadily Improves: Mag 7 Earnings Loom
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Advance Auto Parts, Inc. (AAP): Free Stock Analysis Report
Birkenstock Holding PLC (BIRK): Free Stock Analysis Report
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