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Earnings Insight: 2023 Q1: Difference between revisions
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Analysts and companies have been more pessimistic in their earnings outlooks for the first quarter compared to historical averages. The index is now expected to report its largest year-over-year decline in earnings since Q2 2020. | Analysts and companies have been more pessimistic in their earnings outlooks for the first quarter compared to historical averages. The index is now expected to report its largest year-over-year decline in earnings since Q2 2020.<ref>https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_040623.pdf</ref> | ||
* The S&P 500 is expected to report a (year-over-year) earnings decline of -6.8%, compared to the estimated (year-over-year) earnings decline of -0.3% on December 31. If -6.8% is the actual decline for the quarter, it will mark the largest earnings decline reported by the index since Q2 2020 (-31.8%). | * The S&P 500 is expected to report a (year-over-year) earnings decline of -6.8%, compared to the estimated (year-over-year) earnings decline of -0.3% on December 31. If -6.8% is the actual decline for the quarter, it will mark the largest earnings decline reported by the index since Q2 2020 (-31.8%). | ||
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=== April 14 Update === | === April 14 Update === | ||
[[File:Q1 2023 EPS 2.png|thumb|388x388px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_041423.pdf?hsCtaTracking=31d0f488-5c02-4193-b93b-f1708067f4fa%7Cb994622e-6b82-4c98-ad34-76c848088314]] | [[File:Q1 2023 EPS 2.png|thumb|388x388px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_041423.pdf?hsCtaTracking=31d0f488-5c02-4193-b93b-f1708067f4fa%7Cb994622e-6b82-4c98-ad34-76c848088314]] | ||
At this very early stage, the first quarter earnings season for the S&P 500 is off to a strong start. Both the number of positive earnings surprises and the magnitude of these earnings surprises are above their 10-year averages | At this very early stage, the first quarter earnings season for the S&P 500 is off to a strong start. Both the number of positive earnings surprises and the magnitude of these earnings surprises are above their 10-year averages<ref>https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_041423.pdf?hsCtaTracking=31d0f488-5c02-4193-b93b-f1708067f4fa%7Cb994622e-6b82-4c98-ad34-76c848088314</ref> | ||
* For Q1 2023 (with 6% of S&P 500 companies reporting actual results), 90% of S&P 500 companies has reported a positive EPS surprise and 63% of S&P 500 companies have reported a positive revenue surprise. | * For Q1 2023 (with 6% of S&P 500 companies reporting actual results), 90% of S&P 500 companies has reported a positive EPS surprise and 63% of S&P 500 companies have reported a positive revenue surprise. | ||