The Q2 2020 earnings season is essentially complete with 95% of the S&P 500 now reported. The earnings beat rate is a new record. ... Read More
Earnings season is more than 90% complete. Beat rates are near records. But with future earnings estimates rising slower than stock prices, the market is becoming overvalued.... Read More
Earnings season is roughly three-quarters complete. Beat rates and guidance to the upside are near records. Earnings growth rates are massively outpacing estimates.... Read More
After a huge number of companies reported Q2 earnings this past week, earnings season is roughly two-thirds complete. Beat rates and guidance to the upside are near records. Earnings growth rates are massively outpacing estimates.... Read More
The biggest week of Q2 2020 earnings season starts today. Up to this point, earnings have been disappointing.... Read More
Q2 2020 earnings season is underway. Analysts continue to forecast a 40%+ decline. Many financial firms reported last week. Even with record trading profits, their earnings were 50% lower versus a year ago.... Read More
Q2 2020 earnings season starts this week with analysts estimating a record decline of 44%. These results will tell us a lot about the state of the economy. Is it getting better (?V? bottom) or still struggling (no bounce)?... Read More
Q2 2020 Earnings season starts next week. Estimates are looking for a record decline of 43% so many have dismissed this quarter as a "bad" outlier and devoid of information. We disagree.... Read More
With 95% of Q1 2020 earnings now reported, earnings are expected to decline 17% compared to a year ago. Q2 2020 is expected to be one of the worst quarters ever, down 43% with estimates still falling. The S&P 500 forward P/E ratio continues to extend higher from a 19-year extreme. Small-cap stocks are more overvalued than any time on record.... Read More
Nothing in the earnings numbers suggest the market is undervalued. That assessment is made only with a guess about the future, usually involving a return to the pre-virus era.... Read More
With 86% of Q1 2020 earnings now reported, earnings are expected to decline 16% compared to a year ago. Q2 2020 is expected to be one of the worst quarters ever, down 42% with estimates still falling. The S&P 500 forward P/E ratio continues to extend higher from a 19-year extreme.... Read More
Q1 2020 earnings are stabilizing, but quarterly forecasts through Q1 2021 continue to fall. The S&P 500 forward P/E ratio continues to extend higher from a 19-year extreme. The Q2 2020 revenue forecast of -10.85% is in line with the consensus Q2 2020 GDP forecast of a -30% annualized decline.... Read More
Q1 2020 was expected to be bad, but the early results are far worse. If this were a normal quarter, the stock market would not take this news well. But because nothing is normal about this quarter, analysts are looking past this data. The problem is 2021 estimates are not great and forward P/E ratios are overvalued.... Read More
Earnings season is about 10% complete and estimates continue to fall dramatically. Market valuations have swung wildly in the past few weeks.... Read More
Earnings season starts next week. Analysts downgraded their estimates again last week, but they still think this is "just another bad quarter" and expect earnings to rebound and show a profit by year-end.... Read More
As the full extent of the coronavirus damage becomes better understood, economic forecasts are coming down hard. Equity analysts have been the slowest to react, still forecasting a good year for earnings.... Read More
Q4 2019 earnings season is more than 88% complete and growth estimates are 1.25% higher versus last year, continuing the trend of low growth the past few quarters. Perhaps more concerning, 2020 forecasts appear to be getting hit on global supply chain fears from China?s coronavirus.... Read More
Q4 2019 earnings season is more than 78% complete and growth estimates are roughly 1.2% higher versus last year, continuing the trend of low growth the past few quarters. Perhaps more concerning, 2020 forecasts appear to be getting hit on global supply chain fears from China?s coronavirus.... Read More
Q4 2019 earnings season is more than 60% complete and growth estimates remain roughly 1% higher versus last year, continuing the trend of low growth the past few quarters. Perhaps more concerning, 2020 forecasts appear to be getting hit on global supply chain fears from China's coronavirus.... Read More
Q4 2019 earnings season is approaching the halfway point and growth appears to be on track for a 1% increase. This is not good. Wall Street expects Q4 2020 growth to rebound to +13% to support the big rally in stocks over the last several months.... Read More