America’s Post-Pandemic Corporate Profit Boom Really Is Over
- Profits drop for first time since late 2020, warnings rise
- Opens disconnect with Fed-fueled rally in stocks this year
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Now that Corporate America’s earnings season is nearing an end, the takeaway is clear: A two-year run of swelling profits is over.
With the bulk of quarterly reports in, the per-share earnings of the companies in the S&P 500 Index were down 2.3% during the last three months of 2022, the first decline since the third quarter of 2020, according to data compiled by Bloomberg Intelligence.