S&P 500 Earnings Update: Q2 '25 Earnings Should Be OK; The Attention Turns To Q3 '25 Guidance
Summary
- Like Q1 earnings, which were pretty strong, the 2nd quarter 2025 could also be above average, but with the reciprocal tariffs set to expire July 8th, perhaps we are looking at another very cautious quarter of guidance for Q3 ’25 earnings.
- In addition, Q2 ’24 is facing slightly easier compares against Q2 ’24 from last year.
- While the Q2 ’25 and Q3 ’25 expected S&P 500 EPS growth rate have been revised sharply lower, Q3 ’25 EPS is still holding up slightly better.
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.