US Q3 earnings season: expectation and key watch
The third-quarter earnings season for US publicly listed companies is just around the corner and, in stark contrast to the past two seasons, this time, investors are eagerly anticipating some positive figures and news.
Q3 earnings season expectation: a brighter sky ahead
Despite grappling with multiple headwinds, ranging from rising interest rates and a tight labor market to a deteriorating global economic landscape, US corporations are on the cusp of demonstrating their resilience in the upcoming earnings season, which could potentially mark the best quarterly result since Q3, 2022.
According to Refinitiv, it is projected that S&P 500 companies will report a 1.3% increase in earnings per share compared to the previous year. This marks an encouraging improvement, particularly following the 2.8% decline recorded in the second quarter and three consecutive quarters of contraction.
Regarding revenue growth, FactSet's estimations also indicate a positive trend, with a projected 1.3% growth, notably led by the consumer discretionary sector (+6.8%) and the real estate sector (+6.5%).
Moreover, this optimism is expected to be reinforced by a brighter outlook set to commence from Q3. Looking ahead, Refinitiv's projections indicate that earnings per share for the S&P 500 are anticipated to surge into double-digit growth, marking a significant milestone not observed since Q2, 2022.
Q3 earnings key watch calendar
Week 1：Oct 12th-15th
- J P Morgan Chase & Co
- Wells Fargo
Week 2：Oct 16th-22th
- Bank of America
- Johnson & Johnson
- Goldman Sachs Group
Week 3：Oct 23rd-29th
Week 4：Oct 30th- Nov 5th
- Apple Inc
- Berkshire Hathaway
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