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Earnings Insight: 2023 Q1: Difference between revisions
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=== Estimates === | |||
[[File:Q1 2023 EPS.png|center|thumb|504x504px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_040623.pdf]] | |||
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. | |||
* 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 (year-over-year) revenue growth of 1.8%. If 1.8% is the actual growth rate for the quarter, it will mark the lowest revenue growth rate reported by the index since Q3 2020 (-1.1%). | |||
* For Q1 2023 and Q2 2023, analysts are projecting earnings declines of -6.8% and -4.6%, respectively. For Q3 2023 and Q4 2023, analysts are projecting earnings growth of 2.1% and 9.0%, respectively. | |||
* The forward 12-month P/E ratio is 18.0, which is below the 5-year average (18.5) but above the 10-year average (17.3). | |||
=== April 14 Update === | |||