Why This Earnings Season Could Be The Worst Since 2009

April 8, 2015 4:54 PM

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Why This Earnings Season Could Be The Worst Since 2009

It was T.S. Eliot who once declared that “April is the cruelest month.” While he cited ”breeding lilacs out of dead land” and “stirring dull roots with spring rain” as reason for this characterization, this year, Eliot’s right for another reason: earnings season. According to a bevy of market analysts, the reporting period for the first quarter of 2015 — which officially kicks off when Alcoa Alcoa reports its results after Wednesday’s closing bell – could be quite cruel to investors over the following weeks, thanks in no small part to a lagging energy sector and surging dollar.

Other analyst estimates aren’t quite as dour as Greenhaus’: the Thomson Reuters Thomson Reuters consensus is calling for a 2.8% year-over-year decline, while S&P Capital IQ is projecting a 3% drop. (These estimates shouldn’t come as a surprise to anyone who’s been paying attention to analyst reports...

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