Q2 2026 earnings scorecard by sector
We have analyzed 323 companies' Q2 2026 results. The median company grew revenue +8.8% from a year earlier, and 89% of them grew revenue at all. The median operating margin (the share of revenue left after running the business, before interest and tax) was 17.9%, and median earnings per share changed +15.1%. By sector, Energy grew fastest (median +39.5%) and Communication Services slowest (median +3.0%).
Sectors at a glance
| Sector | Companies | Median rev. YoY | Growing revenue | Median op. margin | Median EPS YoY |
|---|---|---|---|---|---|
| Energy | 18 | +39.5% | 83% | 22.1% | +38.4% |
| Information Technology | 26 | +20.8% | 92% | 19.6% | +36.6% |
| Financials | 57 | +12.5% | 95% | 34.7% | +21.9% |
| Materials | 21 | +9.7% | 81% | 16.3% | +11.1% |
| Industrials | 55 | +9.4% | 95% | 13.4% | +13.8% |
| Real Estate | 22 | +8.2% | 91% | 25.4% | +5.9% |
| Health Care | 37 | +6.7% | 97% | 15.1% | +16.5% |
| Consumer Discretionary | 31 | +6.0% | 84% | 15.6% | +4.6% |
| Consumer Staples | 19 | +5.9% | 89% | 15.1% | +12.6% |
| Utilities | 22 | +4.5% | 77% | 19.8% | +10.4% |
| Communication Services | 15 | +3.0% | 67% | 21.0% | +5.9% |
Sorted by median revenue growth. "Growing revenue" is the share of the sector's companies whose revenue rose year over year. Banks don't report an operating margin, so that column covers the companies that do.
Fastest revenue growth, all sectors
Slowest revenue growth, all sectors
Sector by sector
Energy
18 companies · median revenue +39.5% · median operating margin 22.1% · median EPS +38.4%
Fastest growers
- DVN (+73.1% revenue) — Devon's first quarter after closing the Coterra merger: production rose 62% to 1,359 MBoe/d and net earnings more than doubled to $1.91B ($2.03/share), helped by $92 oil and a $530M non-cash hedge gain, while Permian gas sold below zero.
- EOG (+57.4% revenue) — EOG's Q2 2026 net income doubled to $2.72B ($5.15/share) as its realized oil price jumped 51% to $98/bbl and the Encino Utica deal lifted production 24%; free cash flow nearly tripled to $2.8B.
- CVX (+56.3% revenue) — Chevron earned $12.07 billion ($6.11 per diluted share) in Q2 2026, up from $2.49 billion, as a full quarter of Hess production, conflict-driven crude prices and unusually wide refining margins combined — though roughly $1.4-1.5 billion of it was timing effects reversing Q1 drag.
Slowest growers
- EQT (-29.2% revenue) — EQT sold a record 634 Bcfe (+11.7%) at lower unit costs, but net income fell 73% to $211M because last year included a $720M non-cash hedge gain; debt is down $2.1B this year and 2026 production guidance was raised.
- EXE (-19.8% revenue) — Expand Energy grew output 3.9% to 7.48 Bcfe/d in Q2 2026, but lower gas prices and a much smaller paper gain on hedges cut GAAP net income 46% to $522M ($2.19/share), while adjusted EPS rose to $1.33 and it repaid $1.3B of debt.
- BKR