US Q3 earnings season: expectation and key watch

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The third-quarter earnings season for US publicly listed companies is just around the corner and, in stark contrast to the past two seasons, this time, investors are eagerly anticipating some positive figures and news.

Source: Bloomberg

 

Shares United States S&P 500

Hebe Chen | Market Analyst, Melbourne | Publication date: Thursday 12 October 2023 

Q3 earnings season expectation: a brighter sky ahead

Despite grappling with multiple headwinds, ranging from rising interest rates and a tight labor market to a deteriorating global economic landscape, US corporations are on the cusp of demonstrating their resilience in the upcoming earnings season, which could potentially mark the best quarterly result since Q3, 2022.

According to Refinitiv, it is projected that S&P 500 companies will report a 1.3% increase in earnings per share compared to the previous year. This marks an encouraging improvement, particularly following the 2.8% decline recorded in the second quarter and three consecutive quarters of contraction.

Regarding revenue growth, FactSet's estimations also indicate a positive trend, with a projected 1.3% growth, notably led by the consumer discretionary sector (+6.8%) and the real estate sector (+6.5%).

Moreover, this optimism is expected to be reinforced by a brighter outlook set to commence from Q3. Looking ahead, Refinitiv's projections indicate that earnings per share for the S&P 500 are anticipated to surge into double-digit growth, marking a significant milestone not observed since Q2, 2022.

Q3 earnings key watch calendar

Week 1：Oct 12th-15th

Oct 13th

• J P Morgan Chase & Co
• Citigroup
• Wells Fargo

Week 2：Oct 16th-22th

Oct 17th

• Bank of America
• Johnson & Johnson
• Goldman Sachs Group

Oct 18th

• Tesla
• Netflix

Oct 19th

• Taiwan Semiconductor Manufacturing

Week 3：Oct 23rd-29th

Oct 24th

• Microsoft Corporation
• Alphabet Inc

Oct 25th

• Meta Platforms Inc

Oct 26th

• Amazon

Week 4：Oct 30th- Nov 5th

Nov 2nd

• Apple Inc
• Coinbase
• Berkshire Hathaway

 

 

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