13 Best & Worst Broker-Dealers: Q1 Earnings, 2019
June 4, 2019 by Janet Levaux
While analysts were cautious about financial companies’ prospects for strong earnings in the first quarter of 2019, most broker-dealers reported robust results.
“We consider first-quarter earnings season a success based on the upside surprise and resilience of estimates for the rest of this year,” said John Lynch, chief investment strategist for LPL Financial, in a recent report.
“It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a huge wild card,” Lynch explained.
With results from more than 90% of S&P 500 companies, Q1’19 earnings — which were projected to be negative — have been fairly flat with Q1’18. “While flat earnings don’t sound impressive, we consider it a victory given consensus estimates were calling for a 4–5% decline when earnings season began,” Lynch explained.