Earnings season has begun to less-than-great expectations. Jonathan Golub,
Credit Suisse
chief U.S. equity strategist, agrees that investors have lots to worry about. Historically, first-quarter earnings-per-share estimates tend to fall 4.2% on average in the three months before earnings season. This year, they’re off 6.6%.
That tracks the pattern of recent quarters. In February, Golub highlighted how 2022’s fourth quarter was the worst in 24 years in terms of earnings revisions. While forecasts fell broadly, energy led with a 10.8% decline.
Source: https://www.barrons.com/articles/first-quarter-earnings-gloomy-with-a-silver-lining-d82cf0b2?siteid=yhoof2&yptr=yahoo