Summer 2025 Snapshot Of Expected Future S&P 500 Earnings

Every three months, we take a snapshot of the expectations for future earnings in the S&P 500 (SPX) at approximately the midpoint of the current quarter. The outlook for earnings has improved since last quarter's snapshot, with slightly higher earnings expected in the remaining quarters of 2025 than what was anticipated three months ago. The current projection for the S&P 500's earnings per share through the end of 2025 is $242.27, which would represent 15.3% year-over-year earnings growth over December 2024's finalized level of $210.17.