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As the earnings season progresses, Bank of America reports a surprisingly positive outlook despite limited visibility and a slowdown in earnings per share (EPS) for the Magnificent Seven companies. According to Bank of America’s Savita Subramanian, while mentions of weak demand are increasing, there are signs indicating a potential market bottom. So far, 349 S&P 500 companies have reported, with consensus EPS rising 2% since October 1, reflecting a year-over-year growth of 6%. However, with 75% of the S&P 500 having reported, earnings guidance and revisions are at their lowest levels in over a year, according to Morgan Stanley. The current surprise and beat ratios are decent, but the overall sentiment remains cautious as companies navigate these challenges.
"With 75% of the S&P 500 having reported for the quarter, while so-called surprise and beat ratios are decent, earnings guidance and revisions are running at their worst levels in over a year." - Morgan Stanley https://t.co/2SZbLOTbum
With 75% of S&P 500 having reported for the quarter, while so-called surprise and beat ratios are decent, #earnings guidance and revisions are running at their worst levels in over a year, chart @MorganStanley https://t.co/FwQgXdsFhu
Earnings season is shaping up strong, with 349 S&P 500 companies reporting so far. Consensus EPS is up 2% since Oct 1, tracking +6% YoY. Bank of America’s Savita Subramanian notes that while weak demand mentions are rising, signs of a “bottom” are emerging. Results from…