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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?
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?
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...
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.
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.
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.
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?
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...
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...
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...
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.
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
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%
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Earnings Trends: Archive
What Should Investors Expect For the 2023 Q1 Earnings Season?
by Sheraz Mian
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?
NVDAPositive Net Change GOOGLPositive Net Change METAPositive Net Change
earnings finance tech-stocks
Will Tech Sector Earnings Growth Resume in Q1?
by Sheraz Mian
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?
NVDAPositive Net Change GOOGLPositive Net Change METAPositive Net Change
earnings tech-stocks
Q4 Earnings Season Is Winding Down, Let's See What's Next
by Sheraz Mian
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 WMTNegative Net Change HDPositive Net Change
earnings retail
Exploring the Retail Sector and Looking Ahead to 2023 Earnings
by Sheraz Mian
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 WMTNegative Net Change HDPositive Net Change
earnings retail
Making Sense of Earnings Estimate Revisions for Q1 FY23 and Beyond
by Sheraz Mian
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 MSFTPositive Net Change GOOGLPositive Net Change
earnings finance tech-stocks
Breaking Down the Q4 Scorecard and the Evolving Earnings Outlook
by Sheraz Mian
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
INTCNegative Net Change AMDPositive Net Change MSFTPositive Net Change
earnings tech-stocks
A Steady Earnings Picture, Without a 'Cliff' In Sight
by Sheraz Mian
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.
INTCNegative Net Change AMDPositive Net Change MSFTPositive Net Change
earnings tech-stocks
Digging into the Early Q4 Earnings Season Scorecard
by Sheraz Mian
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 MSFTPositive Net Change GOOGLPositive Net Change
earnings tech-stocks
A Good Enough Start to the Q4 Earnings Season
by Sheraz Mian
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...
BACNegative Net Change WFCNegative Net Change JPMPositive Net Change
earnings finance
Are Earnings Estimates at Risk of Big Cuts in the Days Ahead?
by Sheraz Mian
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...
BACNegative Net Change WFCNegative Net Change JPMPositive Net Change CPositive Net Change
earnings
2022 Q4 Earnings Season Preview: Will Estimates Hold Their Ground?
by Sheraz Mian
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...
BACNegative Net Change WFCNegative Net Change JPMPositive Net Change CPositive Net Change
earnings
Have Earnings Estimates Come Down Enough?
by Sheraz Mian
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.
QQQPositive Net Change SPYPositive Net Change
earnings energy
Earnings Estimates Keep Coming Down
by Sheraz Mian
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 WMTNegative Net Change
earnings
Evaluating Further Downside Risks to Earnings Estimates
by Sheraz Mian
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 WMTNegative Net Change LOWNegative Net Change
earnings retail
Making Sense of the Earnings Picture and Estimate Revisions
by Sheraz Mian
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 TTWOPositive Net Change DISNegative Net Change VTRSPositive Net Change
earnings
Breaking Down the Earnings Picture as Estimates Fade
by Sheraz Mian
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 AAPLNegative Net Change MSFTPositive Net Change GOOGLPositive Net Change METAPositive Net Change
earnings tech-stocks
The Earnings Picture Is Good, But Not Great
by Sheraz Mian
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 MSFTPositive Net Change UPSPositive Net Change FDXPositive Net Change GOOGLPositive Net Change
earnings
The Earnings Picture Is Good Enough, So Far
by Sheraz Mian
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.
BACNegative Net Change UALNegative Net Change PGNegative Net Change JBHTNegative Net Change GISNegative Net Change PEPNegative Net Change
earnings finance
Breaking Down the Rough Start to Q3 Earnings Season
by Sheraz Mian
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.
CCLNegative Net Change NKEPositive Net Change FDXPositive Net Change
earnings
What Will Q3 Earnings Season Tell Wall Street?
by Sheraz Mian
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.
CCLNegative Net Change NKEPositive Net Change FDXPositive Net Change
earnings finance oil-energy
Are Earnings Estimates Out of Sync with the Economy?
by Sheraz Mian
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.
ACNNegative Net Change GISNegative Net Change ORCLPositive Net Change COSTPositive Net Change ADBEPositive Net Change FDXPositive Net Change LENPositive Net Change
earnings finance oil-energy
How Earnings Estimates are Evolving Amid Inflation and Higher Rates
by Sheraz Mian
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.
ACNNegative Net Change GISNegative Net Change ORCLPositive Net Change ADBEPositive Net Change
earnings oil-energy
Q3 Earnings Season Gets Underway
by Sheraz Mian
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 COSTPositive Net Change ADBEPositive Net Change FDXPositive Net Change
earnings energy finance
Previewing the Q3 Earnings Season as Estimates Slide
by Sheraz Mian
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 COSTPositive Net Change FDXPositive Net Change
earnings oil-energy
Looking Ahead to Q3 Earnings Amid Persistent Inflation and Rising Rates
by Sheraz Mian
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.
TPositive Net Change MSFTPositive Net Change TGTPositive Net Change WMTNegative Net Change
earnings oil-energy