• S&P 500 Index earnings are tracking to a mid-teens year-over-year decline amid the COVID-19 pandemic that has shut down a significant portion of global economic activity.
  • Many companies have pulled their guidance due to the unprecedented uncertainty, though consensus estimates for the next four quarters have been cut by 13% in April.

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Source: LPL Financial Research, FactSet 04/24/2020

Important Disclosures:

Note: Revenue and earnings growth statistics are a blend of actual results and FactSet consensus forecasts for companies that have not yet reported. Trailing earnings cover the four quarters ending Q1 2020 and include estimates for Q1 2020, while forward earnings cover the four quarters beginning Q2 2020.

Any revenue forecasts presented are based on FactSet consensus. Any earnings forecasts are based on FactSet consensus, plus the long-term historical average for upside to estimates of 3%.

Past performance is not indicative of future results.

The economic forecasts set forth may not develop as predicted.

All indexes are unmanaged and cannot be invested into directly.

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