Earnings Momentum Screener Excel: Pre-Q2 2026 EPS Acceleration Dashboard

Earnings momentum screener Excel - if that is what brought you here, you are heading into Q2 2026 earnings with the right question on your mind. The first Q2 2026 prints land in mid-July. Roughly five weeks from now, almost every name on the S&P 500 will either confirm or break the fundamental setup the market has been pricing all spring. This guide and the downloadable template below show how to build an earnings momentum screener inside Excel that ranks a watchlist by EPS acceleration, revenue acceleration, the most recent surprise, and the direction of analyst revisions, all powered by live MarketXLS formulas.

The screen is built around four ideas that academic research and practitioner experience have validated repeatedly. Stocks that beat consensus tend to drift higher for weeks after the print (the post-earnings announcement drift, or PEAD). Stocks whose EPS and revenue YoY growth is accelerating tend to be revised upward by analysts in the weeks that follow. Stocks whose current-quarter EPS estimate is climbing into the print tend to print better than the headline number suggests. And stocks combining all four of those tend to enter their next earnings window with the most fundamental tailwinds.

What the Earnings Momentum Screener Looks At (Above-the-Fold Summary)

The composite Momentum Score in the template is a weighted blend of four inputs. The table below shows how the screener evaluates a stock at a glance, with hypothetical values for illustration.

A score above 10% suggests genuine fundamental acceleration is present. A negative score suggests the opposite. Sort the column in Excel and the names cluster naturally into "accelerating," "balanced," and "decelerating" buckets.

Why an Earnings Momentum Screener Matters Right Now

Heading into Q2 2026 reporting season, the macro setup is unusual. The Fed has been on pause for several meetings. Mega-cap technology continues to deliver outsized EPS growth, but the gap between leaders and laggards is widening. Energy is decelerating on weaker commodity prices. Healthcare is mixed - obesity-drug winners are still printing strong acceleration while diversified payers are decelerating into a tougher comp set. Industrials are flat to down. The market is rewarding fundamental acceleration more than it has in any spring in recent memory.

In a market where the S&P 500 multiple sits near its long-term ceiling, multiple expansion is not the path to outperformance. Earnings have to do the work. That is exactly the regime an earnings momentum screener is built for: it surfaces the names with the fundamentals to justify already-high multiples, and it warns you about the names where the multiple is hanging on but the underlying numbers are starting to slip.

An Excel-based screener gives you the flexibility a SaaS screener cannot. You set the weights. You set the universe. You set the thresholds. The template ships with a 25-name large-cap universe, but you can paste in your own ticker list and the formulas will refresh against MarketXLS for any name that has analyst coverage.

How the Earnings Momentum Score Is Built

The Four Components, in Plain English

Quarterly EPS Growth YoY. This is the simplest fundamental momentum signal. If a company reported diluted EPS of $1.50 in Q1 2026 versus $1.00 in Q1 2025, its quarterly EPS growth is 50%. MarketXLS exposes this through the =QuarterlyEarningsGrowthYOY("AAPL") function. It captures the most recently reported quarter, so it is always referring to the latest available print, not a stale annual number.

Quarterly Revenue Growth YoY. Revenue is harder to manage than EPS. Buybacks, tax rate changes, and one-time items can move EPS without changing the underlying business. Revenue acceleration is closer to the truth. =QuarterlyRevenueGrowthYOY("AAPL") returns the same construct on the revenue line. A name with positive EPS YoY but negative revenue YoY is often a margin or buyback story rather than an organic growth story; the screen flags that for you.

Last Reported EPS Surprise %. Post-earnings announcement drift, first documented by Bernard and Thomas in 1989 and re-validated dozens of times since, suggests that stocks that beat consensus by large margins tend to outperform stocks that miss by large margins over the following 60 to 90 days. =EarningsEstimates_EarningsSurprise_PercentEPSSurprise_Current_Value("AAPL") returns the % beat or miss for the most recently reported quarter. Combined with EPS YoY, it answers two different questions: "is the business growing?" and "is the business outpacing what the Street thought it would?"

30-Day EPS Estimate Revision %. Analyst behaviour is herd-like. Once one large bank revises higher, others tend to follow over the next few weeks. A current-quarter EPS estimate that has climbed in the last 30 days is usually a signal that the buyside has seen something positive (a quarterly pre-announcement, a partner data release, a channel check) that the rest of the Street has not yet priced. The template builds this by capturing EPSEstimateAvgCurrentQuarter today and the 30-day-ago consensus from the trends function, then computing the % change.

The Composite Weighting

The default weights are 40% EPS YoY, 30% Revenue YoY, 15% Surprise, 15% Estimate Revision. The reasoning is hierarchy. The actual reported numbers (EPS and revenue YoY) carry the most weight because they are facts, not expectations. The surprise and estimate revision components are forward-looking and noisier, so they are weighted lower. Together they account for 30% of the score, which is enough to break ties between two stocks with similar YoY growth rates.

Weights are easy to adjust. If your trading horizon is shorter (you care about the next print specifically), bump Surprise and Estimate Revision to 25% each and drop the YoY components. If your horizon is six to twelve months, leave the defaults or push EPS YoY higher.

The MarketXLS Implementation - Real Formulas

Every formula below has been verified against the MarketXLS function library. They are exact strings you can paste into a cell.

Building the Watchlist Header Row

Ticker | Company | Sector | Price | EPS YoY (Q) | Rev YoY (Q) | Surprise % | Est Now | Est 30d | Est Rev % | Fwd P/E | Mkt Cap $B | Momentum Score

Populating Row 6 for NVDA

Drag the row down for every ticker in the watchlist. The Momentum Score in column M is what you sort by.

Adding a Next Earnings Date Column

To know which momentum names are reporting next, add a column with the next scheduled earnings date.

=Earnings_Date("NVDA")

A name with a high Momentum Score and an earnings date inside the next four weeks is the most actionable - the catalyst is right in front of you.

Adding a PEG Filter

A Momentum Score sorted descending will tend to surface expensive names, because high growth and high multiples are correlated. Layer in a PEG filter to keep valuation honest.

=PEGRatio("NVDA")

A PEG above 3 on a high momentum name is a different setup than a PEG below 1.5 on the same momentum score. Both can work, but the risk profile is very different.

What the Template Includes

The downloadable Excel templates ship with six fully populated sheets. Every data cell in the Template version is a live MarketXLS formula. The Sample version uses static values captured on 2026-06-09 so you can review the structure without the add-in installed.

Cover. Title page with the data snapshot date and a description of what the workbook does.

How To Use. A walkthrough of every sheet, what each input cell does, and the full list of MarketXLS formulas the workbook references.

Main Dashboard. The 25-name watchlist with all four components and the composite Momentum Score. Color-scaled conditional formatting on the EPS YoY, Revenue YoY, Surprise, Estimate Revision, and Momentum Score columns lets you spot leaders and laggards instantly. Summary KPIs at the bottom show the average momentum score across the universe and the count of names above and below zero.

Scenario Analysis. Four yellow input cells let you plug in portfolio size, momentum allocation %, cash %, and holding period. The table below projects a 12-month outcome under five regimes: Strong Acceleration, Mild Acceleration, Mixed, Mild Deceleration, and Severe Deceleration. The assumed returns are educational placeholders - replace them with your own back-tested estimates for a more rigorous exercise.

Strategy. An eight-step playbook for screening EPS acceleration into earnings season. Covers universe construction, signal capture, composite weighting, the valuation overlay, the earnings calendar overlay, and weekly refresh discipline.

Portfolio. A sample basket where each ticker is weighted by its positive Momentum Score. Plug your portfolio size into the yellow input cell and the workbook auto-sizes every position. Names with negative Momentum Score are excluded from the basket entirely.

Sector View. A sector-level heat map that aggregates EPS YoY, Revenue YoY, and Momentum Score across the GICS sectors represented in the watchlist. Useful for spotting where Q2 2026 catalysts are clustering.

Download the templates:

• - Pre-filled with illustrative data captured 2026-06-09
• - Live-updating formulas, requires the MarketXLS add-in

Reading the Pre-Q2 2026 Snapshot

The static sample workbook is loaded with a 25-name large-cap universe pulled on 2026-06-09. A few patterns emerge that are worth highlighting as educational illustrations of what an earnings momentum screen can reveal.

The AI cohort is still accelerating. NVIDIA's quarterly EPS YoY in the sample is 57.2%, with revenue YoY at 48.2% and a 30-day estimate revision approaching 6%. Broadcom and AMD show similar patterns. The composite Momentum Score for these names sits at the top of the table. This does not mean buy - it means the fundamental setup heading into Q2 prints is supportive, and that the burden of disappointment falls on the print itself.

Hyperscaler software is mid-table. Microsoft, Oracle, Salesforce show solid but not extreme acceleration. The momentum is real but priced in. These are names where a Surprise or Estimate Revision overshoot would matter more than the headline YoY number, because the YoY is already known.

Energy is decelerating into the print. Exxon and Chevron both show negative EPS YoY and negative revenue YoY in the sample, reflecting weaker year-on-year commodity prices. Their composite Momentum Scores are deeply negative. That does not make them un-investible - mean reversion plays exist - but it does flag that fundamental momentum is working against the names heading into mid-year.

Mega-cap consumer is split. Walmart and Costco-adjacent names show modest positive momentum. Discretionary names tied to weaker low-end consumer trends show mixed momentum. This is the kind of bifurcation a sector-level view in the workbook surfaces clearly.

Tesla is the negative tail. The sample shows Tesla with negative EPS and revenue YoY, a negative recent surprise, and downward estimate revisions. The Momentum Score is deeply negative. The point of including a name like this in the screen is not to make a directional call but to make the contrast obvious - the screen is doing exactly what it is built to do when it pushes names with deteriorating fundamentals to the bottom of the table.

These are illustrative observations only. Replace the static values with live MarketXLS pulls and your conclusions will change as analyst estimates and reported numbers evolve.

How to Adapt the Screener to Your Own Watchlist

The 25-name universe in the template is a starting point. To adapt it to your own list:

Step 1. Open the Template version of the workbook with the MarketXLS add-in installed.

Step 2. On the Main Dashboard sheet, replace the ticker symbols in column A with your own tickers. Update the company names in column B if you want clean labels.

Step 3. Hit Add-Ins -> MarketXLS -> Refresh All. The Sector, EPS YoY, Revenue YoY, Surprise, Estimate, Forward P/E, and Market Cap columns will refresh against MarketXLS. The Momentum Score will recalculate.

Step 4. If you want a different weighting, edit the formula in column M. The default is =0.40*E6+0.30*F6+0.15*G6+0.15*J6. Adjust the constants to your preference. Drag the formula down through the watchlist.

Step 5. If you want a smaller or larger universe, insert or delete rows. Update the Portfolio and Sector View sheets so their formulas reference the new range (the SUM and AVERAGEIF formulas use the dashboard's row range).

Step 6. Save your customised copy under a new filename to preserve the original template for future use.

The Risk Side of Earnings Momentum Screening

Earnings momentum is not a free lunch. It comes with well-documented risk modes that the workbook does not eliminate but at least flags.

Crowding risk. When the same momentum names appear in every quant fund's holdings and every long-only growth book, the marginal buyer is thinner than the chart suggests. A small disappointment in a crowded name can produce an outsized drawdown. The Forward P/E column in the dashboard is a rough proxy for crowding - very high multiples suggest the name is already widely owned at expensive levels.

Regime risk. Momentum strategies tend to crash hard at macro turning points. The classic 2009 quant crash and the late-2022 growth-to-value rotation are examples. A composite Momentum Score does not protect against regime change. Pair it with a macro overlay - rate trajectory, credit spreads, breadth - if you intend to take meaningful exposure.

Earnings gap risk. The most actionable momentum names by definition have a near-term earnings catalyst. That catalyst can break either way. Buying the most acceleration immediately before a print compresses time horizon to days and concentrates outcome to a single number. Many practitioners prefer to trim or hedge into the print rather than ride it.

Comp risk. YoY growth flatters or punishes companies based on the year-ago comparison quarter. A company lapping a weak Q2 2025 will look like it is accelerating in Q2 2026 even if sequential growth is flat. The screen does not adjust for this. Cross-check the multi-year growth trajectory before getting excited about a single YoY number.

Estimate quality risk. A 30-day estimate revision based on a thinly-covered name is mostly noise. Use the workbook on names with at least 10 analysts covering them. The 25-name template watchlist clears this bar by construction.

FAQ: Earnings Momentum Screener Excel

What is an earnings momentum screener?

An earnings momentum screener ranks stocks by how quickly their fundamentals are accelerating. The most common inputs are quarterly EPS growth year-over-year, quarterly revenue growth year-over-year, the most recent EPS surprise versus consensus, and the direction of analyst earnings estimate revisions over the last 30 to 90 days. Stocks scoring high are accelerating; stocks scoring low are decelerating. Built in Excel with MarketXLS formulas, the screen refreshes in seconds and can be customised to any universe.

Does earnings momentum actually work as a factor?

Academic research has documented post-earnings announcement drift (PEAD) since the Bernard-Thomas paper in 1989, and it has held up in dozens of follow-up studies across markets and time periods. Earnings revision strategies have also been well documented since the late 1990s. None of this is a guarantee of forward returns - factors have long quiet periods and occasional crashes - but the historical evidence is strong enough to make earnings momentum a recognised factor in institutional portfolios.

What MarketXLS formulas do I need to build this screener?

The core formulas are =QM_Last("AAPL") for price, =QuarterlyEarningsGrowthYOY("AAPL") for EPS YoY, =QuarterlyRevenueGrowthYOY("AAPL") for revenue YoY, =EarningsEstimates_EarningsSurprise_PercentEPSSurprise_Current_Value("AAPL") for the surprise %, =EPSEstimateAvgCurrentQuarter("AAPL") for the current consensus, =EARNINGSESTIMATES_CONSENSUSEPSESTIMATESTRENDS_DAYS30AGO_QR1_VALUE("AAPL") for the 30-day-ago consensus, =ForwardPE("AAPL") for valuation, and =Earnings_Date("AAPL") for the next scheduled print. The full library is documented at marketxls.com.

When is the best time to run an earnings momentum screen?

Run it weekly during earnings season and monthly during the off-weeks. The richest data window is two to four weeks before a wave of prints, when estimate revisions tell you which names the buy side is positioning into. For Q2 2026, that means mid-June through mid-July. Once a name reports, refresh the screen the next morning - the new YoY number and the new surprise both feed straight into the score.

Should I trade purely on the Momentum Score?

The composite score is a ranking input, not a buy signal. Practitioners use it to focus their research, not to bypass it. Pair it with a valuation filter (PEG ratio, EV/EBITDA, free cash flow yield), a balance sheet quality check, position sizing discipline, and an awareness of the macro regime. The MarketXLS Excel platform includes hundreds of functions you can layer on top of the momentum screen for exactly this kind of multi-factor work.

How does this differ from a forward earnings yield screener or an EPS revision screener?

A forward earnings yield screener ranks stocks by 1 / forward P/E, a valuation cut. An EPS revision screener ranks by the percentage change in the consensus estimate over time, a sentiment cut. An earnings momentum screener combines reported acceleration (EPS and revenue YoY), surprise behaviour, and revision direction into one composite. The three views are complementary - many institutional processes run all three side by side. The downloadable revision tracker template and forward earnings yield template on this blog pair naturally with this momentum screener.

The Bottom Line

An earnings momentum screener built in Excel is one of the most useful tools an investor or advisor can carry into earnings season. It compresses four signals - reported EPS YoY, reported revenue YoY, the latest surprise, and analyst revision direction - into a single sortable score. It surfaces which names are entering the next print with the wind at their back and which are entering with a headwind. It does not predict where any individual stock will trade after its report. It does not eliminate crowding, regime, or comp risk. What it does is filter a large universe down to a focused list of names worth deeper research, fast.

Heading into Q2 2026 earnings, that focusing function matters more than usual. The market is rewarding fundamental acceleration in a way it has not for several quarters. The dispersion between leaders and laggards is widening. A repeatable screen built on live data is the difference between guessing and ranking.

The two templates in this post give you both a static reference workbook and a live-formula version. Download them, paste in your own watchlist, and let the Momentum Score do the first cut. To get the live formulas refreshing inside Excel, install the MarketXLS add-in and explore the broader function library - there are hundreds of additional inputs you can layer on top of this screen for multi-factor work, scenario modelling, portfolio construction, and more.

Ready to go deeper? Book a personalised demo and we will walk you through how to extend this earnings momentum screener into a full pre-earnings workflow for your own portfolio.