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There is not much reason to take stocks higher until we get a new perspective on how higher rates will impact earnings this year".
He will have to deal with IFRS15 (which is likely to materially impact earnings), extensive restructuring and weak near-term cashflow.
It is, of course, possible that wages impact earnings directly and through human capital externalities.
"If we can shave off a small percentage in costs, it'll impact earnings".
The firm sees higher compensation costs over the next few years which will impact earnings going forward.
Goldman is forecasting wood pulp costs to rise to $940 per ton which will impact earnings negatively going forward.
Similar(38)
Excluding gains and other impacts, earnings fell to 17 cents.
A 20% drop in the euro impacts earnings by at least 5% unhedged from here.
Excluding restructuring charges and tax impacts earnings were 44 cents per share.
The company says a seven-week work stoppage (that is, a strike) negatively impacted earnings by seven cents per share.
He noted that while Valero's earnings and revenue were in-line, unplanned outages impacted earnings during the quarter by $275 million.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com