Early earnings returns from the first quarter are in, and there is a clear warning: higher wage costs, higher raw material costs, and higher transport costs are weighing on earnings.
div > div.group > p:first-child"> There's good and bad news as we enter the heart of earnings season.
The bad news: there's a very large discrepancy between earnings and revenues, and that is likely a sign that cost pressures are starting to show up in the system. Indeed, in a recent survey of 23 companies that have reported first quarter earnings, FactSet noted that a high percentage cited some form of higher costs:Listen in on the conference calls or read the earnings reports of the companies that have reported so far, and you can see plenty of references to the impact of higher costs on the bottom line.
Costco March 7:"[W]e're still facing the headwinds from the U.S. wage increases to our hourly employees that went into effect last June 11, 2018."
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