Financial News
Wall Street Horizon LERI (Late Earnings Report Index) Shows Less US Corporate Confidence
NEW YORK, NY / ACCESSWIRE / August 20, 2024 / Wall Street Horizon, the leading provider of market-moving global corporate event data, today announced the LERI (Late Earnings Report Index) reading reflected less US corporate confidence for the second consecutive quarter. 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 indicates more companies are delaying earnings reports which can indicate that CEOs are feeling less confident in their overall corporate financial health. The official LERI reading for the Q2 reporting season (data collected in Q3) stands at 186, an increase from 157 last quarter.
"After falling to its lowest level in its nine years of existence for the Q4 earnings season, the LERI ticked back up during the Q1 earnings season, and then moved even higher for the Q2 season that is just wrapping up," said Christine Short, Head of Research, Global Corporate Events at Wall Street Horizon, a TMX company. "This suggests companies continue to feel less certain about economic conditions than they did at the beginning of the year."
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 11,000 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.
Media Contact
Kathleen Ryan
Wall Street Horizon, a TMX company
kryan@wallstreethorizon.com
781.994.3500 x20106
SOURCE: Wall Street Horizon
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