The Coronavirus Is Pushing Companies to Delay Quarterly Earnings
- 13% of S&P 1500 companies have confirmed earnings dates so far
- Delays a likely signal of continued volatility: MS strategists
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This earnings season was already expected to be a slog, but new research from Morgan Stanley indicates it will drag on longer than usual as companies struggle to wrangle the financial and economic impacts of the coronavirus pandemic.
In a note published Wednesday, Morgan Stanley strategists led by Todd Castagno said only 13% of companies in the S&P 1500 Composite Index have confirmed their earnings release date or announced earnings in the month of April. That stands in stark contrast to 45% of S&P 1500 companies reporting earnings in the same period last year.