How Important Is This Earnings Season?

The upcoming third quarter earnings season will kick off on the 14th of October. We are expecting year over year earnings growth to be around 4%. That's the current consensus expectation. Of course, that is going to benefit from energy companies showing earnings growth of more than 100%. If we remove the energy sector, the earnings for the market are going to be down. And that is the first time we'll see a decline in the level of earnings since the recovery from the pandemic.