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Sunday April 5, 2015
World Banks on the Brink
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UNITED States of America -
Running Out Of Accounting Gimmicks: EPS Addbacks Surge Most Since Lehman
Over the past month we have seen a veritable cornucopia of "worst since Lehman" announcements. And with 2015's first quarter earnings season about to be unleashed and lead to the first of at least three and likely more sequential Y/Y EPS declines in a row, we decided to give the "better than expected" Q4 earnings season - a season which would have been an absoolute disaster without the contribution of just one company - one last look. What we found was another indication that as we headed into year end we had, we just had another, you guessed it, "worse since Lehman" moment.