The 4 Key Themes From Q4 Conference Calls

(Before It's News)

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

zerohedge.com / by Tyler Durden on 02/13/2016 – 12:43

With Q4 earnings season drawing to a close, here is a quick recap of the key issues facing corporate CEOs and CFOs based on their conference calls as summarized by Goldman’s David Kostin: 1) Company managements forecast positive US GDP growth in 2016, in contrast with investor concerns of a potential recession. However, global growth prospects appear grim, particularly within commodity-exposed nations. (2) Strong domestic consumer demand persists amid industrial weakness. (3) Several firms announced large or accelerated share repurchase programs in 2016. Corporates will remain the largest source of US equity demand this year. (4) Despite recent economic and currency turmoil, firms view China as an attractive market in the long term.

Oddly enough, despite consensus being on the verge of forecasting that 2016 will see another Y/Y EPS decline, which would mean 7 consecutive quarters of declining earnings growth, management teams still remain oddly upbeat and instead of conserving cash, they prefer to delude themselves that the current economic slowdown will be transitory and chose to spend said cash on stock buybacks instead, giving shareholders one last out as the company itself scrambles to buy every share outside shareholders (and management teams) have to sell. Good luck with that.

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