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.
There is little question that the consumer has held up better than most feared entering 2023. As a result, many of the companies in the consumer sector that have reported thus far have been able to navigate this environment due to conservative assumptions heading into the year.
As part of our commitment to sharing timely and actionable insights, we’ve captured key takeaways from the event, as well as supporting data from both investors and corporates as a part of our 2023 Global ESG Survey.
Industrials are seeing a greater number of companies raising guidance across both revenue and EPS, with slightly fewer maintaining than the all-company benchmark.
Industrials generally continue to outpace conservative expectations that were set heading into 2023. Companies in this segment are starting to take the worst-case scenarios off the table and out of their guidance ranges as the economic environment is holding up well enough to garner some cautious optimism.
At a fundamental level, banks fared better than many feared coming out of the banking crisis last quarter. Many of the big lenders are benefiting from increased loan books and higher profits attributed to higher interest rates.
Investors Divided on Sentiment but Aligned on Perceived Executive Tone – Largely Characterized as More Upbeat – And Major Shifts in Sub-sector Views
Following last quarter’s survey that found a notable disconnect between investor sentiment and management tone, with investors more bearish and bracing for impact, this quarter’s survey reveals investor views are converging with those of management.
Survey Finds Notable Disconnect between Investor Sentiment and Management Tone with Investors More Bearish and Bracing for Impact
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