- Earnings forecasts will continue to come down in 2023, according to Goldman Sachs.
- The firm is calling for flat earnings, while the consensus among analysts is for 3% growth.
- Here are 27 stocks that Goldman Sachs expects to beat earnings estimates by at least 10%.
Earnings growth is expected to be the lowest it’s been since Q3 2020 in the upcoming reporting period, according to Goldman Sachs. Markets are pricing in 0% year-over-year earnings growth for Q4 2022, and if not for stocks in the energy sector, Goldman Sachs says S&P 500 earnings per share would have declined by 5%.
And while the rest of the market sees earnings rising 3% in 2023, Goldman Sachs believes that last year’s downbeat earnings momentum will persist. The firm’s base case is for flat earnings growth this year as the US avoids a recession, though earnings could shrink by 11% if the economy contracts.
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