Only 3% of S&P 500 Companies Withdraw Earnings Guidance Amid 145% US Tariff; Upside Revisions Outnumber Cuts 2:1

Despite concerns over the US's 145% tariff on Chinese goods, which took effect on April 9, 2025, corporate America has largely maintained its earnings forecasts. Only 3% of S&P 500 companies withdrew their 2025 earnings guidance during the first quarter reporting season. Moreover, upward revisions to earnings guidance outnumbered downward revisions by nearly two to one. This suggests that tariff-related anxieties and broader economic uncertainties have not significantly disrupted profit projections among major US companies. Stock markets have remained higher, even though the full impact of the tariff measures has yet to be realized.