General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsEarnings are set for their biggest dive since late 2009 -- and it gets worse from here
The S&P 500 index is set to suffer the worst quarter for earnings since the 2008 financial crisis, and its likely to get a lot worse because the results due this week will barely show the impact of the COVID-19 pandemic.
About 9% of S&P 500 companies reported earnings through Friday and after the first official week of 2020 first-quarter results earnings are on track to decline 14.5% from a year ago, according to John Butters, senior earnings analyst at FactSet. That would be the biggest decline since the 15.7% plunge in the third quarter of 2009.
Butterss projections are based on blended estimates compiled by FactSet, which include actual results and consensus analyst estimates of companies that havent reported yet.
The bad news is that actual results have been a lot worse than expected so far, as earnings for the 46 companies that have already reported dropped 32.7%, according to FactSet.
https://www.marketwatch.com/story/earnings-are-set-for-their-biggest-dive-since-late-2009-and-it-gets-worse-from-here-2020-04-19
asiliveandbreathe
(8,203 posts)That would be the biggest decline since the 15.7% plunge in the third quarter of 2009.
The S&P 500 index is set to suffer the worst quarter for earnings since the 2008 financial crisis, and its likely to get a lot worse because the results due this week will barely show the impact of the COVID-19 pandemic.
This is just the 1st quarter 2020 with 9% - S&P 500 companies..reporting...what do you suppose is the big push to reopen states, businesses..etc...it sure ain't the health of our country..perhaps is 3rd quarter earnings...what could possibly be on the horizon?? Oh, wait, November 2020..elections perhaps..
uponit7771
(90,335 posts)... 30% unemployment.
Trump has been trying to give the impression that CV19 is a short term thing all along when there are few models that show it going into 4th quarter that don't show high levels of social distancing.
I'm still wondering what "open" means to some of the MAGA Suckers and Cluckers ... they want 60,000 at a football stadium now?
That seems sick
asiliveandbreathe
(8,203 posts)I truly do think they are much more in tune with their employees, for workers are the engine, and workers will be their salvation.they owe a debt of gratitude to them,us..if there is a resurgence, that would not be good..for anyone..
.I would think most shareholders, investors, have already fled to the sidelines, protecting their principal -(as seen from this just 9% earnings reported) - earning squat, but better than losing the whole enchilada..but then, most people have more guts than I, and more discretionary income to chance going back in the water...
ProfessorGAC
(64,995 posts)Major product lines include the active ingredients in almost all consumer & industrial cleaning products, and the antimicrobial in sanitizing products. So, obviously they're essential.
The control rooms are not big enough for 3 people to all stay 6 feet apart. So, masks & gloves are available & mandatory.
This is a BIG place so there's many different operating buildings.
They've put up tents just outside each building so when mealtime comes, they've got a positive pressure place with a table & microwave. Folks eat there.
I'm not there anymore, so I don't know in detail how well everything is set up, but told almost no absences due to illness and there's over 400 people there. It does take up 100 acres, so people aren't breathing down one another's neck.
I'm also told that they're shipping 20,000kg trucks of the antimicrobial active at a rate of 4 every 3 days. That represents 24 million grams and there roughly 1 gram in a bottle of sanitizing cleaner.
But, I'm also told they're prioritizing I&I (Industrial & Institutional) customers because of the demand in health care.
Might be why the wipes are taking so long to backfill the inventory. The vast majority seems to be going to I&I.
asiliveandbreathe
(8,203 posts)their workers..surely there are many..we just don't hear enough from them..thank you -
ProfessorGAC
(64,995 posts)So, gone from there, but I'm not surprised. Most of the execs are Is or Rs, but they're also not buffoons. Sick workers make for bad business, especially when the very nature of the product lines make their operations essential.
Sometimes doing the right thing, and good business intersect.
BTW: many nonoperational staff is working from home. Accounting, logistics & planning, etc. If someone is there, it's one person each day, rotating. Might be 2 if one of them has a solo office.
The contract engineers are to do as much as they can at home, and only come in when it's a piece of the job that can't be done from there.
It's 23/7, so there's only about half the people there M-F 630 to 530p. (Actually less than half, because salaried folks comes and go at different times)
Night & weekends it's probably no more than 90 people over 105 acres.
asiliveandbreathe
(8,203 posts)You know your business well, just makes sense..."do the most good for the most people"..
We will get back to those days...an eternal optimist heah..thanks again for sharing...
EarthFirst
(2,900 posts)...and DOW extends Fridays gains with 900 point rally on soft earnings reports