Pounded Profits
02/23/2023 |
Pounded Profit With 23Q1 earnings season almost over, it appears net profits for S&P 500 firms will be 11.3%. While this would be the sixth straight quarterly decline, and well down from their 21Q2 13% peak, it returns profits to where they were in CY2019. Despite higher sale prices, elevated labor, materials, and energy costs are being felt. Lower profits could lead to reduced corporate investment, lower investor payouts, and layoffs.