America's Economic Future – A Discussion By Ted Kavadas
Recently Deloitte released their “CFO Signals” “High-Level Summary” report for the 4th Quarter of 2013. As seen in page 2 of the report, “Ninety-six CFOs responded during the two-week period ending November 22. Sixty-eight percent of the respondents are from public companies, and 79% are from companies with more than $1B in annual revenue.” Here are some …
In the last post (“3rd Quarter Corporate Profits“) I displayed, for reference purposes, a long-term chart depicting Corporate Profits After Tax. There are many ways to view this measure, both on an absolute as well as relative basis. One relative measure is viewing Corporate Profits as a Percentage of GDP. I feel that this metric is …
Today’s GDP release (Q3, 2nd Estimate) was accompanied by the BLS Corporate Profits (preliminary estimate) report for the 3rd Quarter. Of course, there are many ways to adjust and depict overall Corporate Profits. For reference purposes, here is a chart from the St. Louis Federal Reserve (FRED) showing the Corporate Profits After Tax (last updated December 5,2013, …
John Hussman, in his September 23 Weekly Market Comment, states the following: Again, the difficulty with valuing stocks on the basis of raw price/earnings ratios is that corporate profits as a share of GDP are presently over 70% above their long-term historical norm. Though the actual course of corporate profits will be affected by numerous …
Today (October 9, 2013), The Conference Board and PwC released the 3rd Quarter Measure Of CEO Confidence. The overall measure of CEO Confidence was at 54, down from 62 in the second quarter. [note: a reading of more than 50 points reflects more positive than negative responses] Notable excerpts from this October 9 Press Release …
On September 10 the September Duke/CFO Magazine Global Business Outlook Survey (pdf) was released. It contains a variety of statistics regarding how CFOs view business and economic conditions. In this CFO Survey, I found the following to be the most notable excerpts: In the next year, earnings are expected to increase by about 13 percent among public U.S. …
Recently Deloitte released their “CFO Signals” “High-Level Summary” report for the 3rd Quarter of 2013. As seen in page 2 of the report, “One hundred and twenty-four CFOs responded during the two-week period ending August 23. Seventy-three percent of the respondents are from public companies, and 77% are from companies with more than $1B in annual revenue.” Here …
In the last post (“2nd Quarter Corporate Profits“) I displayed, for reference purposes, a long-term chart depicting Corporate Profits After Tax. There are many ways to view this measure, both on an absolute as well as relative basis. One relative measure is viewing Corporate Profits as a Percentage of GDP. I feel that this metric is …
Today’s GDP release (Q2, 2nd Estimate) was accompanied by the BLS Corporate Profits (preliminary estimate) report for the 2nd Quarter. Of course, there are many ways to adjust and depict overall Corporate Profits. For reference purposes, here is a chart from the St. Louis Federal Reserve (FRED) showing the Corporate Profits After Tax (last updated August 29,2013, …
Corporate earnings and earnings growth is a particularly notable subject at this time. As I wrote in the blog post of June 11, 2013 (“The Current High Levels Of Corporate Profitability“) current various levels of profitability – including the S&P500′s operating margins, operating profits, EPS, and After-Tax Corporate Profits as a Percentage of GDP – are at …