S&P 500 Earnings Update: Negative EPS Revisions Slow A Little

Brian Gilmartin, CFA profile picture
Brian Gilmartin, CFA


  • The forward 4-quarter (FFQE) S&P 500 earnings estimate slid to $224.81 this week from last week’s $225.20 (for a $0.39 or -0.17% sequential decline), which is the smallest sequential decline of the last 4 weeks.
  • The S&P 500 earnings yield was 5.67% versus last week’s 5.64% and the July 1 print of 6.31%.
  • 2022 for the most part has been about P/E compression, but as the 10-year Treasury yield has stabilized, the worry is now that S&P 500 earnings fall off a cliff.

Standard & Poors in NY


While we start the final 6 weeks of 2022 next Monday, November 21, we also get a look at the October and November quarter ends for companies reporting in December '22, but don't start seeing the majority of Q4 '22 earnings reports until January

S&P 500

S&P 500

This article was written by

Brian Gilmartin, CFA profile picture
Brian Gilmartin, is a portfolio manager at Trinity Asset Management, a firm he founded in May, 1995, catering to individual investors and institutions that werent getting the attention and service deserved, from larger firms. Brian started in the business as a fixed-income / credit analyst, with a Chicago broker-dealer, and then worked at Stein Roe & Farnham in Chicago, from 1992 - 1995, before striking out on his own and managing equity and balanced accounts for clients. Brian has a BSBA (Finance) from Xavier University, Cincinnati, Ohio, (1982) and an MBA (Finance) from Loyola University, Chicago, January, 1985. The CFA was awarded in 1994. Brian has been fortunate enough to write for the TheStreet.com from 2000 to 2012, and then the WallStreet AllStars from August 2011, to Spring, 2012. Brian also wrote for Minyanville.com, and has been quoted in numerous publications including the Wall Street Journal.

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