The biggest US companies are expected to post a slowdown in earnings growth when they reveal their first-quarter results in the coming weeks as raging inflation and the war in Ukraine weigh on profits.
Earnings announcements from companies listed on the S&P 500 index are set to pick up steam over the next two weeks, with groups representing 70 per cent of the blue-chip index’s market value reporting by the end of April, according to data compiled by Goldman Sachs.
Analysts expect groups listed on the S&P 500 to report average year-on-year earnings per share growth of 5.2 per cent, taking into account companies that have already reported and estimates for those that have not, FactSet data show.