The majority of of U.S. companies, 95%, have reported earnings for the first three months of the year, according to the research group FactSet. So far, S&P 500 companies have reported an average earnings decline of -14.6% for the first quarter.
"If -14.6% is the actual decline for the quarter, it will mark the largest year-over-year decline in earnings reported by the index since Q3 2009 (-15.7%)," FactSet analyst John Butters said in a report last week.
The financial industry is one of five sectors with a year-over-year decline in earnings, along with consumer discretionary, energy, industrials and materials.
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Janet Levaux
Janet Levaux, MA/MBA, is Editor in Chief of ThinkAdvisor & Investment Advisor. She's covered the financial markets since 1991 and advisors since 2005. Janet studied at Yale, Johns Hopkins SAIS and St. Mary's College of California. She's also lived and worked in Asia, Europe and Latin America, raised two sons, and won a Neal Award for top news coverage in 2020.
