- With the turn into the new quarter on April 1, normally IBES by Refinitiv provides the “bottom-up” quarterly estimates for what is calendar 2022; however, they did not provide that data on either April 1 or April 2, last week.
- While revenue growth has stalled for now, the S&P 500 EPS revisions continue to be revised higher for forward quarters in 2021.
- If the S&P 500 has an effective tax rate of 20% and that is increased to 30%, then logic would have to assume that the new estimate for the SP 500 EPS in 2022 would be $180 or a 10% reduction.
For further details see:
S&P 500 Weekly Earnings Update: New 'Forward 4-Qtr Estimate' Is $180(ish)