FactSet Senior Earnings Analyst John Butters provides an analysis of the third quarter earnings season for the S&P 500. At this point in time, 10% of the companies in the S&P 500 have reported actual results for Q3 2020, with 86% reporting actual EPS above estimates. For the third quarter, the blended earnings decline for the S&P 500 is -18.4% and the blended net profit margin is 9.7%. This would be the third lowest net profit margin reported by the index since Q1 2016.