US profits boom tears the roof clean off

Tuesday, 4 May 2021

As expected at MB Fund, the new US profits boom is nothing short of extraordinary, tearing the roof already inflated expectations, via BofA:

Corporate America delivers again; tracking an 18% beat

So far, 303 S&P 500 companies comprising 78% of earnings have reported, and 1Q EPS is now tracking at an 18% beat, exceeding last quarter’s 15% beat. 1QEPS of $46.80 suggests +41% YoY and +20% vs. pre-COVID 1Q19. Cons. Disc., Financials andComm. Svcs. drove the beat, all beating by more than 30%. The proportion of beats is also robust, with 68% beating on both sales & EPS, well above the historical avg. of43%.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.