Back to top

Earnings Trends: Archive

Sheraz Mian

Analyzing the Evolving Q1 Earnings Landscape

As has been the case in recent quarters, estimates for 2023 Q1 have been steadily coming down. With negative sentiment taking hold, where do we go from here?

JPMPositive Net Change CPositive Net Change

Sheraz Mian

What Should Investors Expect For the 2023 Q1 Earnings Season?

Total S&P 500 earnings for 2023 Q1 are expected to be down -9.4% year-over-year on +1.8% higher revenues. Given these expectations, where does the market head from here?

NVDANegative Net Change GOOGLNegative Net Change METANegative Net Change

Sheraz Mian

Will Tech Sector Earnings Growth Resume in Q1?

The Tech sector has gotten off to a great start in 2023, handily outperforming the S&P 500 index in the year-to-date period. Can a strong 2023 Q1 season push them even higher?

NVDANegative Net Change GOOGLNegative Net Change METANegative Net Change

Sheraz Mian

Q4 Earnings Season Is Winding Down, Let's See What's Next

Looking at 2022 Q4 as a whole, aggregate S&P 500 earnings are currently expected to be down -5.6% on +5.8% higher revenues. But what's next is crucial...

AMZNPositive Net Change TGTPositive Net Change WMTPositive Net Change HDPositive Net Change

Sheraz Mian

Exploring the Retail Sector and Looking Ahead to 2023 Earnings

The only remaining points of interest in the 2022 Q4 reporting cycle pertain to results from traditional retailers, with Walmart (WMT) and Home Depot (HD) already out and the others on deck to report in the coming days.

AMZNPositive Net Change WMTPositive Net Change HDPositive Net Change

Sheraz Mian

Making Sense of Earnings Estimate Revisions for Q1 FY23 and Beyond

For 2023 Q1, S&P 500 earnings are currently expected to be down -8.3% on +2.1% higher revenues. This is down from -4% on January 6th and -2.9% in mid-December 2022.

AMZNPositive Net Change MSFTNegative Net Change GOOGLNegative Net Change

Sheraz Mian

Breaking Down the Q4 Scorecard and the Evolving Earnings Outlook

Looking at 2022 Q4 as a whole, aggregate S&P 500 earnings are currently expected to be down -5.8% on +5.3% higher revenues

INTCPositive Net Change AMDNegative Net Change MSFTNegative Net Change

Sheraz Mian

A Steady Earnings Picture, Without a 'Cliff' In Sight

The Q4 earnings season continues to show that while growth is moderating and decelerating, it isn't falling off the cliff that many appeared to fear could be in store for us.

INTCPositive Net Change AMDNegative Net Change MSFTNegative Net Change

Sheraz Mian

Digging into the Early Q4 Earnings Season Scorecard

Looking at 2022 Q4 as a whole, aggregate S&P 500 earnings are currently expected to be down -7.2% on +3.9% higher revenues. The question now is what's to come?

AMZNPositive Net Change MSFTNegative Net Change GOOGLNegative Net Change

Sheraz Mian

A Good Enough Start to the Q4 Earnings Season

We are off to a good-enough start to the 2022 Q4 season, with no signs yet of an impending earnings cliff that will prompt management teams to overwhelmingly guide lower. That said, companies appear to be struggling to beat consensus estimates...

BACPositive Net Change WFCPositive Net Change JPMPositive Net Change

Sheraz Mian

Are Earnings Estimates at Risk of Big Cuts in the Days Ahead?

Many in the market consider current earnings expectations to be too high and fear that the Q4 earnings season will cause estimates to be significantly lowered. Let's investigate...

BACPositive Net Change WFCPositive Net Change JPMPositive Net Change CPositive Net Change

Sheraz Mian

2022 Q4 Earnings Season Preview: Will Estimates Hold Their Ground?

Many in the market consider current earnings expectations to be too high and fear that the Q4 earnings season will cause estimates to be lowered significantly. We strongly dispute the notion that earnings estimates remain out of sync with the economic ground reality...

BACPositive Net Change WFCPositive Net Change JPMPositive Net Change CPositive Net Change

Sheraz Mian

Have Earnings Estimates Come Down Enough?

We strongly dispute the notion that earnings estimates remain out of sync with the economic ground reality, particularly if the economic slowdown turns out to be moderate.

QQQNegative Net Change SPYPositive Net Change OILPositive Net Change

Sheraz Mian

Earnings Estimates Keep Coming Down

The trend of negative estimate revisions that was already firmly in place ahead of the start of the Q3 earnings season has further accelerated since then

TGTPositive Net Change WMTPositive Net Change

Sheraz Mian

Evaluating Further Downside Risks to Earnings Estimates

Full year 2023 earnings estimates have been coming down after peaking in mid-April, with the aggregate total down -8.4% from the peak for the index

TGTPositive Net Change WMTPositive Net Change LOWPositive Net Change

Sheraz Mian

Making Sense of the Earnings Picture and Estimate Revisions

Looking at 2022 Q3 as a whole, total S&P 500 earnings are currently expected to be up +1.5% from the same period last year on +11.4% higher revenues. Excluding contributions from the Energy sector, Q3 earnings for the rest of the index would be -6.0%

DDPositive Net Change TTWONegative Net Change DISNegative Net Change VTRSPositive Net Change

Sheraz Mian

Breaking Down the Earnings Picture as Estimates Fade

Overall corporate profitability isn't great, but it isn't bad either. That said, estimates for the coming periods are steadily coming down, with the revisions trend accelerating in recent days.

AMZNPositive Net Change AAPLPositive Net Change MSFTNegative Net Change GOOGLNegative Net Change METANegative Net Change

Sheraz Mian

The Earnings Picture Is Good, But Not Great

The picture emerging from the 2022 Q3 earnings season continues to go against pre-season fears of an impending earnings cliff. Overall corporate profitability isn't great, but it isn't bad either.

AMZNPositive Net Change MSFTNegative Net Change UPSPositive Net Change FDXPositive Net Change GOOGLNegative Net Change

Sheraz Mian

The Earnings Picture Is Good Enough, So Far

The picture emerging from the 2022 Q3 earnings season belies pre-season fears of an impending earnings cliff. The overall corporate profitability picture isn't great, but it isn't bad either.

BACPositive Net Change UALPositive Net Change PGPositive Net Change JBHTPositive Net Change GISPositive Net Change PEPPositive Net Change

Sheraz Mian

Breaking Down the Rough Start to Q3 Earnings Season

The early 2022 Q3 results don't inspire a lot of confidence about the overall earnings picture. At this admittedly early stage, companies appear to be struggling to beat consensus estimates that had already come down significantly.

CCLPositive Net Change NKEPositive Net Change FDXPositive Net Change

Sheraz Mian

What Will Q3 Earnings Season Tell Wall Street?

Estimates for the last two quarters of this year and full-year 2023 are coming down, even though positive revisions to the Energy sector continue to partly offset estimate cuts elsewhere.

CCLPositive Net Change NKEPositive Net Change FDXPositive Net Change

Sheraz Mian

Are Earnings Estimates Out of Sync with the Economy?

Estimates for the last two quarters of this year and full-year 2023 are coming down, even though positive revisions to the Energy sector continue to partly offset estimate cuts elsewhere.

ACNPositive Net Change GISPositive Net Change ORCLPositive Net Change COSTNegative Net Change ADBEPositive Net Change FDXPositive Net Change LENPositive Net Change

Sheraz Mian

How Earnings Estimates are Evolving Amid Inflation and Higher Rates

Q3 estimates have been cut for 14 of the 16 Zacks sectors since the quarter got underway, with the biggest declines at the Consumer Discretionary, Consumer Staples, Technology, Retail and Conglomerates sectors.

ACNPositive Net Change GISPositive Net Change ORCLPositive Net Change ADBEPositive Net Change

Sheraz Mian

Q3 Earnings Season Gets Underway

Q3 earnings growth would be +3.9% had it not been for the Finance sector drag, but index earnings would actually be down -5.4% had it not been for the strong Energy sector contribution.

ORCLPositive Net Change COSTNegative Net Change ADBEPositive Net Change FDXPositive Net Change

Sheraz Mian

Previewing the Q3 Earnings Season as Estimates Slide

Estimates for the last two quarters of this year and full-year 2023 are coming down, even though positive revisions to the Energy sector continue to partly offset those estimate cuts elsewhere.

JPMPositive Net Change ORCLPositive Net Change COSTNegative Net Change FDXPositive Net Change