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Earnings Outlook: Archive

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...

BACNegative Net Change WFCNegative Net Change JPMNegative Net Change CNegative 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

Q3 Earnings Season - Better Than Expected or Lackluster?

We discuss the big-picture takeaways from the Q3 earnings season and the forces that shaped it.

MSFTPositive Net Change KONegative Net Change ADBENegative Net Change

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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%

DDNegative Net Change TTWONegative Net Change DISNegative Net Change VTRSNegative 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 AAPLNegative Net Change MSFTPositive Net Change GOOGLNegative Net Change METAPositive 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 MSFTPositive Net Change UPSNegative Net Change FDXPositive Net Change GOOGLNegative Net Change

Sheraz Mian

How Critical Is This Earnings Season?

We discuss whether the Q3 earnings season will be able to reset market expectations for the coming periods.

BACNegative Net Change JPMNegative Net Change AAPLNegative 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.

BACNegative Net Change UALPositive Net Change PGNegative Net Change JBHTPositive Net Change GISNegative Net Change PEPNegative Net Change

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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.

CCLNegative Net Change NKENegative 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.

CCLNegative Net Change NKENegative 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 GISNegative Net Change ORCLNegative Net Change COSTNegative Net Change ADBENegative 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 GISNegative Net Change ORCLNegative Net Change ADBENegative 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.

JPMNegative Net Change ORCLNegative Net Change COSTNegative Net Change FDXPositive Net Change

Sheraz Mian

Looking Ahead to Q3 Earnings Amid Persistent Inflation and Rising Rates

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.

TNegative Net Change MSFTPositive Net Change TGTPositive Net Change WMTPositive Net Change

Sheraz Mian

Making Sense of Fading Earnings Estimates

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

TNegative Net Change MSFTPositive Net Change TGTPositive Net Change WMTPositive Net Change

Sheraz Mian

The Market Sectors Showing Resilience As Earnings Estimates Slip

Q3 estimates have been cut for 13 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.

TNegative Net Change MSFTPositive Net Change TGTPositive Net Change WMTPositive Net Change

Sheraz Mian

How Far Have Q3 Earnings Estimates Fallen?

The +2.4% earnings growth expected for the S&P 500 index in 2022 Q3 is down from...

TNegative Net Change MSFTPositive Net Change WMTPositive Net Change

Sheraz Mian

Looking for Signs of Recession in the Earnings Data

With the bulk of the Q2 earnings season now behind us, we discuss the key trends emerging from this reporting cycle.

KNegative Net Change BKNGNegative Net Change

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Taking Stock of the Earnings Picture

With the Q2 earnings season at the half-way mark, we discuss the key trends emerging from this reporting cycle.

MSFTPositive Net Change GOOGLNegative Net Change SNAPNegative Net Change METAPositive Net Change

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A Stable Earnings Picture Despite Many Headwinds

While this stability and resilience runs contrary to worries of an imminent economic slowdown or even a recession, we are starting to see tell-tale signs of emerging weakness in both consumer and business spending.

TNegative Net Change MSFTPositive Net Change WMTPositive Net Change

Sheraz Mian

Q2 Earnings Season Off to a Solid Start Despite Recession Fears

The overall picture emerging from the Q2 earnings season at this admittedly early stage is inconsistent with an economy heading into a significant downturn.

JPMNegative Net Change

Sheraz Mian

Q2 Earnings Season Gets Underway

Excluding the hefty contribution from the Energy sector, total Q2 earnings for the rest of the S&P 500 index are expected to be down -6.1% on +7.4% higher revenues.

NKENegative Net Change GISNegative Net Change ORCLNegative Net Change FDXPositive Net Change LENPositive Net Change

Sheraz Mian

How Much Clarity Will the Q2 Earnings Season Provide?

The market has a sense of what should happen to earnings estimates, but it isn't seeing much of that just yet...

NKENegative Net Change GISNegative Net Change ORCLNegative Net Change FDXPositive Net Change LENPositive Net Change

Sheraz Mian

Have Earnings Estimates Come Down Enough?

Part of the uncertainty in the market at present is related to how earnings estimates should evolve in an aggressive Fed tightening cycle. The market has a sense of what should happen to earnings estimates, but it isn't seeing much of that just yet...

NKENegative Net Change GISNegative Net Change ORCLNegative Net Change FDXPositive Net Change LENPositive Net Change