Earnings Estimates Impressively Rose. Recession likely?

Earnings 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.

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Erick Arndt2023-05-01T10:18:36-07:00

About the Author: Erick Arndt

Erick Arndt is a Wealth Advisor helping clients build and manage wealth since 2003. He holds the following securities registrations with LPL Financial: Series 7, 65, 6, 63, and 26. Erick’s focus is to help clients create wealth, enjoy it, and preserve it over their lifetime and generations to come.An advocate for small business, he works hands-on with companies to provide high quality retirement plans with fun and engaging education workshops for plan participants. Mr. Arndt earned his Accredited Investment Fiduciary (AIF) designation and also his Professional Plan Consultant (PPC) designation to help employers optimize their company sponsored retirement plans by helping participants pursue their retirement goals as well as keep compliant with government regulations.Erick, an advocate for small business, founded SCV Startup, the technology Startup Community in Southern California with a mission of creating and curating high tech companies and jobs in Santa Clarita.