While a few companies have already reported results, it is safe to say that the Q3 2023 earnings season will only kick into high gear tomorrow, spearheaded by major U.S. banks. Against a backdrop of economic uncertainty, high interest rates, subdued consumer confidence, and geopolitical tensions stemming from the Israel-Hamas conflict, investors could certainly use some good news.
Concerning corporate EPS expectations, FactSet data shows that 118 S&P 500 companies have issued forecasts for Q3 2023, with 64% being bearish and 36% taking an optimistic stance. Moreover, among the twenty S&P 500 companies that have already reported results for Q3, 17 have surprised to the upside with 14 S&P 500 reporting a positive revenue surprise as well.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: