financial advisorEarnings Estimates for 2023 Impressively Rose Last Week

  • With just over half of S&P 500 companies having reported results, the consensus estimate for S&P 500 year-over-year earnings growth in the first quarter is -3.7%, up more than 2 percentage points from the prior week.
  • While an earnings recession is likely, with a second straight drop in quarterly earnings still nearly certain, a solid upside surprise relative to expectations is a pleasant development past the halfway point of the season.
  • The consensus estimates for S&P 500 earnings per share over the next 12 months and for calendar year 2023 both rose slightly last week amid strong results from mega-cap tech. Further estimate cuts during earnings season are likely to be modest.

Over 160 S&P 500 companies will report this week in another very business week of earnings season.

Book a free consultation today to learn more.


Tracking  # 1-05369077 (Exp. 05/2024)