YRI S&P 500 Earnings Forecast - Yardeni Research

1 YRI S&P 500 Earnings ForecastYardeni Research , 22, 2020Dr. Ed visit our sites outside the boxFigure A: Yardeni Research S&P 500 Earnings ForecastPage 1 / June 22, 2020 / YRI S&P 500 Earnings Forecast Research , 500 Earnings : YRI vs. Consensus Forecasts (6/15/2020) *Historical Earnings growth rates and Earnings are not adjusted for accounting and index composition : Yardeni Research , Inc. and I/B/E/S data by ' ConsensusLevelYOY % Yardeni Research -post tax cutLevelYOY %Figure B: YRI S&P 500 Revenue, Earnings & Margin ForecastPage 2 / June 22, 2020 / YRI S&P 500 Earnings Forecast Research , 500: YRI Forecasts (6/2/2020)Y/Y Revenue Growth (%) ee= : Yardeni Research , Inc.

2 And I/B/E/S data by (Margin %)EarningsRevenue20072008200920102011201 2201320142015201620172018201920202021202 2202390010001100120013001400150016001700 9001000110012001300140015001600170020212 2Q1 Latest data thru 06/11 500 REVENUES & YRI FORECASTS(dollars per share, ratio scale)S&P Actual RPSRPS* ( )YRI Forecasts2020 ( )2021 ( )2022 ( )Consensus Forecasts2020 ( )2021 ( )2022 ( )* Four-quarter trailing sum of revenues per : I/B/E/S data by data thru 06/18 500 OPERATING Earnings PER SHARE & YRI FORECASTS(dollars per share, ratio scale)I/B/E/S Actual EPSEPS* ( )YRI Forecasts2020 ( )2021 ( )2022 ( )Consensus Forecasts2020 ( )2021 ( )2022 ( )* Four-quarter trailing sum of operating Earnings per.

3 I/B/E/S data by S&P 500 Revenue, Earnings & Margin TargetsPage 3 / June 22, 2020 / YRI S&P 500 Earnings Forecast Research , data thru 06/11 500 OPERATING PROFIT MARGIN & YRI FORECASTS(percent)Actual MarginProfit Margin* ( )YRI Forecasts2020 ( )2021 ( )2022 ( )Consensus Forecasts2020 ( )2021 ( )2022 ( )* Four-quarter trailing operating profit : I/B/E/S data by Refinitiv and Standard & Poor 500 INDEX & YRI FORECASTS6/19 YRI Forecasts(red line)Source: Standard & Poor S&P 500 Revenue, Earnings & Margin TargetsPage 4 / June 22, 2020 / YRI S&P 500 Earnings Forecast Research , (c) Yardeni Research , Inc.

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