Wall Street Horizon Q2 LERI (Late Earnings Report Index) Continues to Show Uncertainty from US Corporations
Woburn, MA – September 12, 2023 – Wall Street Horizon, the leading provider of market-moving global corporate event data, today announced the LERI (Late Earnings Report Index) is at its highest reading in a year, continuing to show signs of Corporate America uneasiness. The proprietary index allows investors and traders to factor in the market intelligence derived from US public companies releasing earnings later than their historical average, which typically signals negative news on the horizon.
The timing of a firm’s earnings release is one indicator of its financial health, according to findings from several independent academic studies. The LERI tracks the number of off-trend earnings date confirmations reported later or earlier than their historical average at US publicly traded companies with market capitalizations of $250M and higher. A reading over 100 demonstrates more companies are delaying reports and is meant to be watched carefully.
For the Q2 2023 earnings season (reported in Q3), Wall Street Horizon reports a LERI of 126, which is an increase from the Q1 2023 reading of 106. The 5-year historical average is 103 (excluding 2020 as the COVID-19 pandemic significantly skewed the data). This shows companies are notably more uneasy than they have been historically.
“The LERI can provide the financial community with a lens into whether companies are worried which can eventually affect stock price,” said Christine Short, VP of Research, Wall Street Horizon. “If you look on a sector level, a lot of the consumer discretionary companies seem to be delaying earnings dates, which would make sense as consumers soften a bit.”
The LERI has been recently profiled in the first edition of Yahoo Finance’s Annual Chartbook.
About Wall Street Horizon
Wall Street Horizon, a TMX Company, provides institutional traders and investors with an ever-expanding set of forward-looking and historical corporate event datasets, including earnings dates, dividend dates, and a wide variety of investor conferences and events. Covering 10,000 publicly traded companies worldwide, the company offers more than 40 event types. Wall Street Horizon data is recognized globally for its unmatched accuracy and timeliness. For more information, please visit www.wallstreethorizon.com.
Wall Street Horizon, a TMX company