Chanticleer
Earnings season reality might be about to bite
Slowing economic growth has started bleeding into profit downgrades for 2024. Investors could be in for a volatile earnings season.
We’re still a week away from Rio Tinto starting the firing pistol on the mid-year earnings season, but investors are starting to get a sense of the pressure that is building on profits.
Just weeks after healthcare giant CSL shocked the market by downgrading its 2024 financial year profit due to higher costs weighing on margins, global consumables manufacturer Ansell lowered its guidance for 2024 and announced it would slow production, cut management and manufacturing jobs, and try to become more efficient through better technology, upgrading software and IT.
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