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Pessimism on Profits Climbs

Many more U.S. companies expect profits to trail estimates than to exceed them.

By Lu Wang, Bloomberg | Updated on October 12, 2012

Earnings pessimism among U.S. chief executive officers is climbing to levels last seen when the Standard & Poor’s 500 Index was mired in bear markets.

Over the last four weeks, the ratio of companies saying profits will trail estimates compared with those saying they will exceed them climbed to 4.3, according to 69 earnings previews compiled by Bloomberg. The rate matches peaks reached in February 2009 and October 2001, the data show.

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