10/10/18

Nightmare Scenario For Q3 Earnings Strikes Again After Trinseo Warning On Costs, China; Stock Implodes



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Nightmare Scenario For Q3 Earnings Strikes Again After Trinseo Warning On Costs, China; Stock Implodes
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On Monday, in "PPG's Horror Quarter Reveals The Nightmare Scenario For Q3 Earnings" we noted that in his preview of Q3 earnings season, Goldman's chief equity strategist David Kostin said that whereas company earnings will most likely be stellar for yet another quarter, with 3Q EPS for the S&P500 growing by 21% Y/Y, what investors should focus on is company guidance about Q4 and the longer term especially as pertains to profit margins, with Goldman laying out three key risk factors: 1) tariffs, 2) wage inflation, and 3) interest rates.

Just 24 hours later, on Monday afternoon Pittsburgh-based coatings giant PPG provided a case study in just how prescient Kostin's warning was by not only ...

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