• With just 45 S&P 500 Index companies having reported, fourth quarter 2019 earnings growth is tracking to a 2.4% yearover-year decline on 2.5% revenue growth.
  • It’s early in the season, but the slight increase in 2020 S&P 500 earnings estimates since December 31 is encouraging amid progress on trade and global growth stabilization.

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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 Q4 2019 and include estimates for Q4 2019, while forward earnings cover the four quarters beginning Q1 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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