Goldman sees zero earnings growth for US companies this year because of coronavirus
Coronavirus,World,Foreign Policy,Disease,Healthcare,Public Health
Earnings growth for U.S. companies will be stagnant in 2020 as a result of the coronavirus, according to Goldman Sachs.
The Wall Street firm revised its earnings estimate for the year to $165 per share from $174 per share, representing 0% growth in 2020. That is a dramatic move from the consensus. Forecasts still expect earnings to climb 7% this year.
“US companies will generate no earnings growth in 2020,” Goldman Sachs chief U.S. equity strategist David Kostin said in a note to clients on Thursday. “We have updated our earnings model to incorporate the likelihood that the virus becomes widespread.”
U.S. equities have been in a tailspin this week on fears that the deadly virus will dent global economic growth. The rapid spreading of the virus across multiple continents forced the Dow Jones Industrial Average to drop more than 7% since Monday. The S&P 500 lost about 6.6% and the Nasdaq fell nearly 2% in the same period.
AllSides Picks
Youth Voices
State Mandates Capping Insulin Costs: A Help or Hindrance?
The Alliance for Civic Engagement
June 15th, 2026
.png.webp)
Red Blue Translator
FDA (U.S. Food & Drug Administration)
Red Blue Translator
