In this week’s Sector Beat, we analyzed annual revenue and EPS guidance provided by Consumer Discretionary companies with market caps greater than $500M that have reported to date.
The markets welcomed a pause in interest rate hikes after the Fed’s Wednesday briefing, but the net effect of higher-for-longer rates on the consumer is anything but reason to celebrate.
We expect the next few quarters will be very telling, particularly as consumers drift through the holiday season and executives prepare to provide their 2024 outlooks. Indeed, with less than two months remaining in 2023, investor attention is increasingly focused on expectations for next year.
We analyzed annual revenue and EPS guidance provided by 30 industrial companies with market caps greater than $500M that have reported to date.
Earnings season is moving fast and furious with the latest batch of results and guides indicating more pronounced weakness than what the markets were expecting and certainly relative to the strong Q2 GDP print published this week.
No matter what happens, it is increasingly clear that guiding the Street for 2024 will be a larger-than-normal challenge for many companies — especially for the Banks.
Conservatism will again be the strategy and as we have consistently shared with our clients since Q3 2021, bullish on our company, not on the macro!
At a fundamental level, U.S. Banks appear to have made it through Q3 fairly well.
Survey Finds Less Cautious and More Neutral Investor Sentiment Despite Near-Universal Expectations for Industrial Slowdown and Elevated Concerns on Interest Rate Environment and Geopolitical Risk
We hope you find our primary research timely, informative, and actionable, beginning with today’s “Commencing the Quarter” and throughout the Q3 2023 earnings season as we report on updates and emerging trends.
Investor Sentiment Reflects Increasing Caution Heading into Q3 Amid Continued Growth Concerns with Margins Prioritized; Geopolitical Risk — China Specifically — Dominates Mindshare
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