WOBURN, MA / ACCESSWIRE / March 25, 2024 / Wall Street Horizon, the leading provider of market-moving global corporate event data, today announced the LERI (Late Earnings Report Index) is the lowest reading in one year, showing an increase in US corporate confidence. The proprietary index allows investors and traders to factor in the market intelligence derived from US public companies releasing earnings later than their historical average, which typically signals negative news on the horizon.
The timing of a firm's earnings release is one indicator of its financial health, according to findings from several independent academic studies. The LERI tracks the number of off-trend earnings date confirmations reported later or earlier than their historical average at US publicly traded companies with market capitalizations of $250M and higher.
A reading under 100 indicates less companies are delaying earnings reports which can indicate that CEOs are feeling more confident in their overall corporate financial health. For the Q4 2023 earnings season (reported in Q1 2024), Wall Street Horizon reports a LERI of 99, which is a significant decrease from the previous quarter reading of 122.
"Following a strong earnings season, LERI, our metric of CEO sentiment, is showing that companies are coming into 2024 more confident than the initial outlook," said Christine Short, Head of Global Corporate Event Research at Wall Street Horizon in a recent Cheddar News interview. "We are pleased to see corporate uncertainty easing up as companies look for increased sales, more capital investment and overall better business conditions in 2024."
About Wall Street Horizon
Wall Street Horizon, a TMX Company, provides institutional traders and investors with an ever-expanding set of forward-looking and historical corporate event data, including earnings dates, dividend dates, and a wide variety of investor conferences and events. Covering 10,000 publicly traded companies worldwide, the company offers more than 40 event types. Wall Street Horizon data is recognized globally for its unmatched accuracy and timeliness. For more information, please visit www.wallstreethorizon.com.
Media Contact:
Kathleen Ryan
Wall Street Horizon, a TMX company
kryan@wallstreethorizon.com
781.994.3500 x20106
SOURCE: Wall Street Horizon
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