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Q3 Earnings Aristocrats -- 30 stocks that delivered the goods

Consistency is tough to achieve.

The following table of stocks comes from a list of those companies that reported during the month or so that comprised earnings seasons in Q1, Q2 and Q3 of this year. The screen uses the following criteria:
  • The company beat earnings estimates each quarter
  • There was an increase in year-over-year earnings each quarter
  • There was an increase in year-over-year revenues each quarter
  • The company offered upside guidance in Q1 and Q2

Symbol Name Sector
ALTR Altera Technology
ANAD Anadigics Technology
APH Amphenol Capital Goods
APKT Acme Packet Technology
BWA Borg Warner Capital Goods
EMN Eastman Chem Basic Industries
ETN Eaton Technology
FFIV F5 Networks Technology
HITT Hittite Microwave Technology
INTC Intel Technology
IPGP IPG Photonics Technology
LXK Lexmark Technology
LZ Lubrizol Basic Industries
OFIX Orthofix Health Care
PII Polaris Inds Capital Goods
PRGO Perrigo Consumer Durables
RADS Radiant Systems Technology
RCL Royal Caribbean Consumer Services
RVBD Riverbed Technology Technology
SHOO Steven Madden Consumer Non-Durables
STJ St. Jude Medical Health Care
STRA Strayer Education Consumer Services
SYNA Synaptics Technology
TKR Timken Capital Goods
TLAB Tellabs Public Utilities
UNH UnitedHealth Health Care
VECO Veeco Instruments Technology
VMW VMware Technology
VSEA Varian Semi Technology
WBC WABCO Holdings Capital Goods

Not only did these companies deliver continuously improving results, they delivered the results promised in their upside guidance.To put things into perspective, this screen identified 30 companies out of almost 1400 stocks that have reported so far during this Q3 earnings season.

Loosening the criteria a bit by removing the requirement for upside guidance and the list increases in size from only 30 companies to 250 companies. This now pulls in companies like Apple, Microsoft and Coca-Cola among many others. Many of these companies simply offered no guidance at all. This was especially the case in Q1 where perhaps many companies became cautious as fears of a double-dip recession became more of a concern for the markets.

One thing that is noticeable is that the tech sector is especially well-represented on both lists. Though a few tech large-caps are present, like Intel, many of these companies are small-caps or mid-caps. Tech often leads the way during the first stages of recovery. This, to me, implies that the recovery, though sluggish in terms of employment, is solid in terms of company profits across the market cap spectrum. I think that is reassuring for those who are looking for the economy to continue to strengthen.

Disclosure: no positions
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