CHART OF THE DAY: Earnings Slowing

02/20/19 07:38AM EST

Editor's Note: Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

CHART OF THE DAY: Earnings Slowing - ztu

How about the real-time ROC (rate of change) on Q418 US Earnings Season? 

  1. 412 of the SP500’s companies have reported aggregate year-over-year EPS growth of +10.85%
  2. That’s the slowest growth rate of the Q418 Earnings Season (it was tracking +12-14% prior)
  3. That’s #slowing, big time, from the #PeakCycle EPS growth rate of +24-25% in Q2 and Q3 of 2018 

But no worries, with 3 of the 10 SP500 Sectors already showing NEGATIVE year-over-year earnings growth, this must “all be priced in” without having had to lap the toughest compares since Q3 of 2000 (+23%) six-to-nine months from now. 

CHART OF THE DAY: Earnings Slowing - Chart of the Day

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