Wall Street is expecting a third straight quarter of declining profits when second-quarter earnings reports are published in July.
Wall Street is expecting a third straight quarter of falling profits and the worst decrease since the pandemic in 2020, when second quarter earnings are reported in July, but that may be the bottom for this year.
Wall Street expects per-share profit for S&P 500 index companies to fall 6.5% for the second quarter, according to FactSet. That would be the worst decrease since the 31.6% plunge seen during the same quarter in 2020. Inflation has been slowing since last year when the war in Ukraine initially drove up costs for supplies, but customers are still struggling with markups at grocery stores and at the gasoline pump.
This week in earnings Eight companies on the S&P 500, including two members of the Dow, are set to report quarterly results for the week ahead.
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