Given the decline in GDP for the second quarter, more S&P 500 companies than typically discussed the term “recession” during their earnings conference call for the second quarter.
240 companies cited the term “recession,” and 412 companies cited “inflation” during their earnings calls for the second quarter From June 15 through September 8, which is well above the 5-year average of 52. In addition, this is the highest number of S&P 500 companies citing “recession” on earnings calls going back to at least 2010.
At the sector level, the Financials (53) and Industrials (37) sectors have the highest number of companies that cited “recession” on earnings calls for Q2. On the other hand, the Financials (85%) and Real Estate (73%) sectors have the highest percentages of companies that cited “recession” on their Q2 earnings calls during this period.