Den amerikanske regnskabssæson for første kvartal er begyndt. 41 selskaber i S&P 500 har aflagt regnskab (12,1 pct. af markedskapitaliseringen), og JP Morgan vurderer på det grundlag, at alle selskaber i S&P 500-indekset vil få en indtjeningsnedgang på 14,6 pct. De selskaber, der har været mest ramt af social distancing, er kommet under et voldsomt indtjeningspres, og indtjeningen svinger ekstremt fra branche til branche.
Uddrag fra JP Morgan:
The 1Q20 earnings season unofficially kicked off last week, providing investors
with a first glimpse of how businesses are faring since the outbreak of COVID-19.
Overall, 41 companies (12.1% of market cap) have reported, and we currently
estimate that S&P 500 profits contracted -14.6% in the first quarter relative to a year
ago.
In general, those sectors that are more sensitive to a social distancing
shutdown of the economy are set to see profits come under severe pressure, while
those sectors that are somewhat insulated or are seeing benefits from a stay-at-home
economy are expected to see profits grow on a year-over-year basis.
