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MarketWatch MarketPulseFeb 27, 2020
Goldman sees 'no earnings growth' for S&P 500 companies this year
Goldman Sachs slashed its outlook for S&P 500 corporate earnings in 2020, and now expects "no earnings growth" this year, as fears over the potential negative impacts of the coronavirus outbreak intensifies. Portfolio strategist David Kostin now expects aggregate S&P 500 earnings per share of $165, down from his previous estimate of $174, which represents 0% growth, and he lowered his 2021 outlook to $175 from $183 to now represent a 6% rise. "Our reduced forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for U.S. exporters, supply chain disruption, a slowdown in US economic activity and elevated uncertainty," Kostin wrote in a note to clients. The S&P 500 has lost 3.4% so far in February through Wednesday, and futures are shedding 1.6% ahead of the open.

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