Updated as of 23 August 2020.
2Q2020 Earnings Summary by Market
On aggregate, US seems to be faring “best”, on the basis of sales & earnings changes on a year-on-year (yoy) basis, or when compared to analyst consensus estimates. Europe also seems to be tracking decently, while Japan looks to have been hit quite badly. China companies have largely yet to report but initial reports are looking pretty positive.
- US: 95% companies reported, -9.9% yoy sales growth (beat by 1.8% vs expected), -7.4% yoy earnings decline (beat by 22.5% vs expected).
- Europe: 90% companies reported, -22.8% yoy sales decline (missed by 3.0% vs expected), -19.2% yoy earnings decline (beat by 30.8% vs expected)
- Japan: 98% companies reported, -20.5% yoy sales decline (missed by 4.7% vs expected), -25.4% yoy earnings decline (beat by 28.5% vs expected).
- China: 27% companies reported, +17.7% yoy sales growth (beat by 3.4% vs expected), +18.9% yoy earnings growth (beat by 1.0% vs expected).
US S&P 500 Index Earnings Summary by Sector
84% of companies beat analyst earnings estimates, albeit on a benchmark that had likely been revised too low earlier on.
Oil and gas sector looks to be taking biggest hit for 2Q. Seeing positive year-on-year sales growth for Health Care, Technology and Telecommunication sectors.
Financial sector earnings continue to be negatively impacted from an increase in credit provisions.
Europe Stoxx 600 Index Earnings Summary by Sector
Japan Nikkei 225 Index Earnings Summary by Sector
China CSI 300 Index Earnings Summary by Sector
Source: Bloomberg, retrieved 23 August 2020.