Showing posts with label Valuation. Show all posts
Showing posts with label Valuation. Show all posts
Monday, August 19, 2019

2Q Corporate Results: 2% Earnings Growth Expected in 2019

›
Summary : Overall, corporate results in the second quarter of 2019 were fine, but growth has slowed. Sales and earnings were up were 5% and ...
Wednesday, May 29, 2019

1Q Corporate Results: 3% Earnings Growth Expected In 2019

›
Summary : Overall, corporate results in the first quarter of 2019 were good, but not great. Sales and earnings growth were 6% and 8%, respec...
Tuesday, February 19, 2019

4Q Corporate Results: Margins Fall. A Watch Out for 2019

›
Summary : Overall, corporate results in the fourth quarter of 2018 were good, but not great. S&P sales grew 6% and earnings rose 32%, bu...
Friday, November 16, 2018

3Q Corporate Results Were Great. The Outlook for 2019 Looks Far Too Optimistic

›
Summary : Overall, corporate results in the third quarter were excellent. S&P sales grew 11%, earnings rose 30% and profit margins expan...
Tuesday, August 14, 2018

2Q Corporate Results: All-Time High Sales, Profits and Margins

›
Summary : Overall, corporate results in the second quarter were excellent. S&P sales grew 11%, earnings rose 27% and profit margins expa...
Monday, June 11, 2018

Time To Not Freak Out About Debt Again

›
Summary :  Debt is a perennial worry.   It's a natural human tendency to think of debt as bad, that by incurring debt we are living beyo...
Tuesday, May 8, 2018

1Q Corporate Results Were Excellent, But Margins May Be Peaking

›
Summary : Overall, corporate results in the first quarter were very good. S&P sales grew 10%, earnings rose 24% and profit margins expan...
Wednesday, March 21, 2018

Interview With Financial Sense on What To Look For Ahead of an Equity Market Peak

›
We were interviewed by Cris Sheridan of Financial Sense on March 13th. During the interview we discuss the macro-economic environment, the ...
Friday, February 23, 2018

Earnings Growth Matched The Rapid Pace of Equity Appreciation in 2017

›
Summary : S&P sales grew 9% over the past year, the best growth in 6 years. Earnings rose 23%, the best growth in 7 years. Profit margin...
Tuesday, November 14, 2017

Solid Sales Growth and Margins At New Highs Drive 3Q17 Results

›
Summary : For the third quarter (3Q17), S&P earnings rose 12% yoy, sales grew 6% and profit margins expanded to new all-time highs. Th...
Tuesday, August 29, 2017

Interview With Financial Sense on Identifying the Next Bear Market

›
We were interviewed by Cris Sheridan of Financial Sense on August 24th. During the interview we discuss current market technicals, the macro...
Sunday, August 6, 2017

Profit Margins Expand to New Highs to Boost 2Q17 Results

›
Summary : The headline numbers for 2Q17 financial reports are good: S&P profits are up 19% yoy; sales are 6% higher; profit margins are ...
Friday, May 5, 2017

Better Sales And Profit Growth Are Behind Good 1Q17 Results, Not Financial Engineering

›
Summary : S&P profits are up 22% yoy. Sales are 7.2% higher. By some measures, profit margins are at new highs. This is in stark contras...
Sunday, March 5, 2017

The Similarities (and Key Differences) Between 2017 and 2013 So Far

›
Summary : 2017 is off to a remarkably similar start to 2013. No two years are ever exactly the same, so there's no reason to suggest tha...
Tuesday, February 14, 2017

Sales and Earnings Back At Highs, But So Are Valuations

›
Summary : In the past year, S&P profits have grown 46% yoy. Sales are 4.5% higher. By some measures, profit margins are back at their pr...
Sunday, November 27, 2016

What Happened To The Earnings Recession?

›
Summary : A year ago, profits for companies in the S&P had declined 15% year over year (yoy). Sales were 3% lower. Margins had fallen mo...
Friday, September 23, 2016

Interview with Financial Sense on US Macro and Equities

›
We were interviewed by Cris Sheridan of Financial Sense on September 21, the day of the FOMC rate decision. During the interview, we discuss...
Friday, May 13, 2016

Are Poor Sales and Profit Growth Signaling an Imminent Recession?

›
Summary : Over the past year, earnings for the S&P have declined 12%. Earnings have declined 5 quarters in a row. Even excluding the tro...
Thursday, November 12, 2015

The Truths And Myths of Buybacks

›
Summary : It's true that corporations buying their own shares (buybacks) represents a large source of demand for equities and have helpe...
Tuesday, November 10, 2015

3Q Financials Were Poor; 4Q Won't Be Better. What To Expect in 2016

›
Summary : 3Q financials have been predictably poor, with negative growth in both sales and EPS. Sales growth has been affected by a 50% fall...