04-04-2016, 11:47 AM
Some more remarkable stuff from that report:
Revenues of the S&P 500 companies are now expected to decline 1.1% in Q1. If the last few quarters are any guide, reality will get worse as companies begin to report a “disappointing top line”: For example, at the end of Q4, before companies began reporting their Q4 results, revenues were expected to decline 3.2%. After everything was said and done, revenues as tracked by FactSet actually fell 5.5%. Five sectors are expected to show year-over-year growth in revenues, led by Telecom Services (12.5%), Health Care (8.9%), and Consumer Discretionary (5.4%). Five sectors are expected to show a decline in revenues, led by Energy (-29%), Materials (-8.7%), and Information Technology (-4.8%), which once again bashes the idea that “tech” is a driver of corporate growth.
First-Quarter Earnings Are Now Expected to Really Suck | Wolf Street