Bank of America Forecasts S&P 500 Q2 Earnings Growth of 22%, Raises Full-Year EPS to $345

According to Bank of America equity strategist Savita Subramanian on July 14, the S&P 500 is expected to post 22% earnings-per-share (EPS) growth in the second quarter, following a 27% surge in the first quarter. Despite high expectations, there are no signs of slowing earnings momentum, Subramanian said.

The bank raised its full-year 2026 S&P 500 EPS forecast to $345 from $335, representing 26% annual growth. For Q2, BofA expects EPS of $85.50, about 5% above Wall Street consensus. Among early earnings reporters, 83% have beaten EPS expectations and 72% have exceeded revenue forecasts. Energy and technology sectors are driving earnings upgrades, with energy posting the highest sector returns year-to-date.