How Will US Election Affect This Earnings Season?
During the Q3 earnings season, many S&P 500 companies mentioned the potential impact of the upcoming U.S. election on their business operations.
Between September 15 and October 31, 116 out of 324 companies (36%) referred to the term “election” in their earnings calls. This number is higher compared to the 102 companies that mentioned the election during the same period in 2020.
The Industrials and Financials sectors led in election-related mentions, with 30 and 27 companies, respectively.
The highest percentages were found in the Industrials (48%), Consumer Discretionary (46%), and Financials (45%) sectors.
Notably, 38 companies reported economic or business slowdowns linked to election uncertainty, but many anticipate conditions will improve post-election.
Only a few companies referred to specific candidates, with "Harris" mentioned by 3 companies and "Trump" by 6.
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However, policies were a more common discussion point, with tariffs and trade cited by 7 companies, followed by housing and regulations (4 each).
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