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Category Archives: Earnings results

Earnings update

With 97.2% of S&P500 companies reported we have: As-reported earnings $25.59/share. TTM  $89.29 — the 7th consecutive quarter with declining earnings. I am confident that has never happened without a recession.  And yet…. Profit margins are 8.8%. nice. Earnings from ops (bulls*t earnings that leaves out bad stuff, used by the investment community): $25.89/share TTM down for the 6th straight quarter to $101.67. Profit […] Read the rest of this entry »

7 consecutive quarters of earnings decline and counting

With 85% of S&P500 companies now reported Q3 earnings, here the upshot: Q3 was the 7th consecutive decline in trailing twelve month as-reported (real world) earnings. It was the 6th consecutive decline in earnings from operations (fallacy earnings used by the investment community and their news network shills). These events have not happened outside of a recession since WWII. To be clear, the U.S. […] Read the rest of this entry »

Q3 earnings snapshot

S&P500 Q3 2015 earnings are 88% done as of the S&P posting on Nov 5th.  It shows: As reported earnings (aka real world, not earnings before bad stuff) trailing 12mo are down 15%.  Ouch! As reported earnings are down for the 4th quarter in a row. Revenue is down 3.2% year on year. As crappy is this is, it would be worse without the […] Read the rest of this entry »

Earnings & Economic Update

U.S. economy on the verge of stalling: ECRI’s latest WLI is a -4.0  . The Atlanta Fed GDP data is presenting a 0.6% Q1 GDP growth picture. Retail sales are contracting since November at a pace almost never seen outside of recession. That’s not all attributable to cold weather! I expect Q1 real GDP growth to be around 1%, and the same for Q2. […] Read the rest of this entry »

Q4 Earnings update

The most recent data from S&P shows 90% of S&P500 companies have reported Q4 earnings. Here’s a scorecard: As reported earnings per share are down nearly 14% from Q3, and down 10.6% from Q4 the previous year.  Note: this includes a likely 2% tailwind from share buybacks. Trailing 12mo earnings (a broader view) is up 3% –but again nearly all of that gain is […] Read the rest of this entry »

Before the bell. More soft earnings

Before the bell, we’ve got: Counting on Q3 earnings keeping the party going?  

Earnings after hours: very weak.

  Here’s a snapshot of earnings reactions after the close. Ouch.  The futures market should be interesting tonight.