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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.

original-size.webpSource: Bloomberg
 
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.

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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


Oct 19th


Week 3:Oct 23rd-29th


Oct 24th


Oct 25th


Oct 26th


Week 4:Oct 30th- Nov 5th


Nov 2nd

 

 

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