State-owned companies issued lowest-ever profit warnings this spring, according to respected industry tracker
State-owned companies issued the lowest number of profit warnings ever this spring, according to a respected industry tracker.
Just 32 publicly traded companies said their second-quarter earnings would be worse than forecast, EY-Parthenon research found, indicating companies are recovering from Covid.
Rebounding: EY has been following profit warnings for 22 years, saying it was the smallest number in a quarter
EY has been following profit warnings for 22 years and said it was the smallest number in a quarter.
It is in stark contrast to the first three months of 2020 when they hit a record high of 301.
The global economy has picked up quickly since a string of vaccine announcements in November – and in the UK, growth has soared since Covid restrictions began to ease in April after a third close.
But EY-Parthenon’s Alan Hudson said companies may soon face more challenges as the strong global recovery has also pushed many commodity prices up.