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Reporting Season Review

There was a lot to like about the February reporting season. By Morgans estimates, over 30% of large caps beat the market’s expectations, and unlike previous seasons, estimates held firm rather  than falling away into results. Downgrades and significant misses were largely a non-event and overall management commentary reflected the most buoyant conditions we’ve seen for a while.

Morgans pick-apart key themes we identified around large cap outperformance, offshore earnings growth, industrials earnings momentum (up slightly), capital management (up), and the resource cycle (maturing).

Read the full Morgans monthly Investment Watch update

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DISCLAIMER: The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained.