Reporting season: good outlook for SMEs in the US
Reporting season: good outlook for SMEs in the US

10 July 2024 – Reporting season: The outlook for small and medium-sized US companies (SMEs) in the second quarter looks good with earnings growth of up to 20%. These could be even higher for the second half of the year. And Indonesian nickel smelters still have to import their ore from the Philippines.

Reporting season: good outlook for small and medium-sized US companies

Let’s start today with some positive news! For the second quarter, analysts are expecting year-on-year earnings growth of almost 20% for small and medium-sized US companies (SMEs) in particular. For the second half of the year, earnings growth, which is strongly linked to the Fed’s interest rate cut cycle, could be even higher. According to analysts, the increase for the third and fourth quarters of 2024 could be as high as 60% to 90%.

Nickel smelters in Indonesia must continue to import nickel ore

The awarding of important mining licenses in Indonesia has been delayed for months, which has led to a persistent shortage of nickel ore in Indonesia. In the meantime, various smelters have even had to reduce or even completely shut down operations due to a lack of raw materials.

There do not appear to have been any significant improvements in the awarding of contracts for June and July either. This is according to media reports on a hearing of affected companies last Monday before the Indonesian Commission VII of the House of Representatives (DPR).

The companies concerned are still forced to import nickel ore from the Philippines to keep their smelters running. A solution to the massive delays still does not seem to be in sight.

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