Earnings season preview

Financial journalist and commentator on 3AW and Sky Business
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Although we are not yet like the Americans – whose quarterly company earnings reporting seasons seem to merge into a continuous barrage of profit announcements – the Australian market is readying for the February-March reporting season, despite seemingly having just completed the August-September season.

The February-March reporting season covers mostly interim (half-year) reports for the companies that use June 30 as a balance date, but it also features some full-year reports, for the companies that use the calendar year as their financial year.

The interim season will be important as a halfway house in what market-watchers expect to be the first year in three that produces rising earnings across the market (read, the S&P/ASX 200 index). Broker Credit Suisse says the combined earnings per share (EPS) of the ASX 200 fell by 13% over the last two years.

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