• Seth Golden posted an update 1 week, 5 days ago

    David Kostin of GS
    1. 3Q earnings season kicks off in earnest on October 15.

    2. Consensus expects aggregate S&P 500 EPS will fall by 3% year/year, the first profit decline since 2016 and since 2Q 2009 when the Energy sector is excluded

    3. Margin compression of more than 100 bpto 10.6% will offset positive sales growth.

    4. Lower-than-expected effective tax rates represent one source of potential positive EPS surprises

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