NIPA Profits Diverge From S&P 500 Non-GAAP Earnings, With Sell-Side Optimism Very High For Latter

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US corporate profits are now down four quarters in a row from the record 2Q22, even as the sell-side has S&P 500 non-GAAP earnings growing 11.7 percent this year and 11.5 percent next. The gap between GAAP and non-GAAP in … Continued

1H20 Corporate Profits Collapse, Earnings Revision Trend Improves For S&P 500 Companies Meanwhile

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US corporate profits collapsed 21 percent in the first half this year. Directionally, this is in line with operating earnings estimates for S&P 500 companies. In the latter’s case, the revision trend has improved the past two and a half … Continued

Improvement In S&P 500 Earnings-Related Metrics in 1Q18 – One-Off Or Trend?

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In 1Q18, S&P 500 companies reported $36.54 in operating earnings, up 26.8 percent year-over-year and eight percent quarter-over-quarter.  This was non-GAAP.  GAAP was up 20.3 percent y/y and 22.5 percent q/q to $33.02. Apart from being a record quarter, 1Q18 … Continued

Amidst Elevated ’18 Estimates, Wide Gap Between GAAP And Non-GAAP

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As of last Thursday, a little over four-fifths of S&P 500 companies reported 2Q17 results.  Of the 422 companies, 70.1 percent beat on operating earnings, 20.6 percent missed and 9.2 percent met, as per S&P Dow Jones Indices. In the … Continued