While performances have varied from company to company, EPS beats for the roughly 45% of S&P 500 Industrials that have reported Q3 figures have so far come in at a healthy clip — 65% have topped consensus.
While there is hope for a greater sense of clarity once past the U.S. election (less than two weeks away!), shifting policy implications remain a wild card, and geopolitical tensions have shown no signs of abating. In addition, the impact of Fed rate cuts will take time to be felt, while recent hurricanes in the Southeast and evolving labor actions are adding to near-term headwinds in some sectors.
Continuing last quarter’s earnings season trend, U.S. Banks are largely reporting strong results relative to Street expectations with most posting solid Q3 beats on the top- and bottom-line.
Overall U.S. Bank commentary is more upbeat than expected on a resilient economy, but executives remain guarded in their comments around the road ahead given ongoing risks with heightened geopolitical turmoil and an uncertain U.S. political landscape as we march toward the November U.S. presidential election.
Industrial Investors Brace for Disappointing 2H24 amid Anticipated Misses and Downward Guidance Revisions; Sights Turn to 2025 for Which Optimism is Building
During our webinar The Big So What® – Q3’24 Earnings Season our Founder & CEO, Rebecca Corbin provided an expert lens on what we’re hearing and seeing this earnings season and how that aligns with or differs from Wall Street sentiment, as well as share actionable insights and global market trends aimed at helping companies successfully navigate the current landscape.
Yesterday we published our 60th Issue of Inside The Buy-Side® Earnings Primer®, covering the current investor sentiment landscape and providing insights to help shape narrative positioning as we round third
Survey Finds Notable Sentiment Divergence Resulting in Bull-Bear Barbell; Outright Bearishness at Highest Level in 12 Months with More Downward Guidance Revisions Expected
As we do every quarter, we analyzed the earnings communication trends of 30 off-cycle companies reporting between September 3 and October 3, 2024, to identify important themes and precedence. These companies span market cap sizes and sectors.
Investor sentiment captured in our Inside The Buy-Side® Earnings Primer® Q3’24 survey reveals heightened concerns around demand and growth with a focus on margins. Off-cycle earnings reports are corroborating what we’re hearing more broadly – continued retrenchment across many markets amid a subdued customer and strapped consumer, while AI / digital and infrastructure stimulus continue to serve as bright spots.
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