Earnings Overview: 2023 Q2: Difference between revisions

Earnings Overview: 2023 Q2 (view source)

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 == Estimates ==
+=== Factset ===
 [[File:Screenshot 2023-07-17 154617.png|center|thumb|673x673px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_063023.pdf?_ga=2.210034645.1136161000.1689606162-1317705232.1681150838&_gl=1*1du6cs7*_ga*MTMxNzcwNTIzMi4xNjgxMTUwODM4*_ga_2Q3PTT96M8*MTY4OTYyNDc5Ni4yOC4xLjE2ODk2Mjg3MjEuMC4wLjA.]]
 [[File:7bb93b761824e5db6faa0eb06a8126ceeb4f8eb6.jpeg|thumb|401x401px|https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_063023.pdf?_ga=2.210034645.1136161000.1689606162-1317705232.1681150838&_gl=1*1du6cs7*_ga*MTMxNzcwNTIzMi4xNjgxMTUwODM4*_ga_2Q3PTT96M8*MTY4OTYyNDc5Ni4yOC4xLjE2ODk2Mjg3MjEuMC4wLjA.]]
 Key Insights July 7 report<ref>https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_070723.pdf?_gl=1*1wmluwh*_ga*MTMxNzcwNTIzMi4xNjgxMTUwODM4*_ga_2Q3PTT96M8*MTY4OTYyNDc5Ni4yOC4xLjE2ODk2Mjg4MzAuMC4wLjA.&_ga=2.213833684.1136161000.1689606162-1317705232.1681150838</ref>:
-* If -7.2% is the actual earnings decline for the quarter, it will mark the largest earnings decline reported by the index since Q2 2020 (-31.6%). It will also mark the third straight quarter in which the index has reported a (year-over-year) decrease in earnings.
+* '''If -7.2% is the actual earnings decline''' for the quarter, it will mark the '''largest earnings decline reported by the index since Q2 2020 (-31.6%)'''. It will also mark the third straight quarter in which the index has reported a (year-over-year) decrease in earnings.
-* In terms of estimate revisions, analysts lowered earnings estimates for Q2 2023 by a smaller margin than average during the quarter. On a per-share basis, estimated earnings for the second quarter decreased by 3.0% from March 31 to June 30. This decrease is smaller than the 5-year average of -3.4% and smaller than the 10-year average of -3.4%.
+* In terms of estimate revisions, analysts lowered earnings estimates for Q2 2023 by a smaller margin than average during the quarter. '''On a per-share basis, estimated earnings for the second quarter decreased by 3.0% from March 31 to June 30'''. This decrease is smaller than the 5-year average of -3.4% and smaller than the 10-year average of -3.4%.
-* In terms of revenues, analysts have also lowered their estimates during the quarter. As of today, the S&P 500 is expected to report a (year-over-year) revenue decline of -0.3%, compared to the expectations for flat revenues (0.0%) on March 31.
+* In terms of revenues, analysts have also lowered their estimates during the quarter. As of today, the '''S&P 500 is expected to report a (year-over-year) revenue decline of -0.3%''', compared to the expectations for flat revenues (0.0%) on March 31.
-* The estimated net profit margin for the S&P 500 for Q2 2023 is 11.4%, which is equal to the 5-year average of 11.4%, but below the previous quarter’s net profit margin of 11.5% and below the year-ago net profit margin of 12.2%.
+* '''The estimated net profit margin for the S&P 500 for Q2 2023 is 11.4%''', which is equal to the 5-year average of 11.4%, but below the previous quarter’s net profit margin of 11.5% and below the year-ago net profit margin of 12.2%.
-* The percentage of S&P 500 companies issuing negative EPS guidance for Q2 2023 is 59% (67 out of 113), which is equal to the 5-year average of 59% and below the 10-year average of 64%.
+* The percentage of S&P 500 '''companies issuing negative EPS guidance for Q2 2023 is 59% (67 out of 113)''', which is equal to the 5-year average of 59% and below the 10-year average of 64%.
-* The forward 12-month P/E ratio is 18.9, which is above the 5-year average (18.6) and above the 10-year average (17.4)
+* '''The forward 12-month P/E ratio is 18.9''', which is above the 5-year average (18.6) and above the 10-year average (17.4)
+* Looking ahead, analysts still expect earnings growth for the second half of 2023. '''For Q3 2023 and Q4 2023, analysts are projecting earnings growth of 0.3% and 7.8%, respectively. For all of CY 2023, analysts predict earnings growth of 0.8%.'''
 == References ==