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Market Update: 04-20-20

IS THE EARNINGS BAR LOW ENOUGH?

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

This earnings season will be unlike any other, as travel restrictions and lockdowns related to COVID-19 have impacted results dramatically.The biggest economic hits came in mid-March, however, and won’t be fully captured in first quarter results. This makes company guidance particularly important as market participants look for clues into what earnings may look like for the rest of the year.

EARNINGS SEASON UNLIKE ANY OTHER

It goes without saying that this will be a reporting season unlike any other. For some companies less impacted by the COVID-19 pandemic, the numbers may appear normal. For others, the focus will be on balance sheet strength and survival. The separation between winners and losers is widening in this environment.

Download the complete PDF with graphs here.

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