Goldman Sachs (GS) is expected to report Q2 earnings before the market open on Tuesday, July 20 with a conference call scheduled for 11 am ET.
GuidanceThe consensus estimate is $2.04 for EPS and $8.99B for revenue. The consensus range is $1.60-$2.90 for EPS and $7.53B-$10.61B for revenue, according to First Call. Wall Street analysts and media outlets generally believed that Goldman Sachs' $550M settlement with the SEC represented a significant victory for the investment bank. A number of research firms upgraded Goldman after the settlement was announced. Goldman said that it doesn't anticipate that the SEC will look to recommend further charges against it or any of its employees, and investors will listen tomorrow to see if the company reiterates or strengthens the statement. Goldman shareholders will also be interested in updates on a number of lawsuits facing the investment bank, as well as new information on the impact of financial regulatory reform. Meanwhile, Goldman's Q2 results are expected to be "lackluster," the Wall Street Journal wrote July 13. The downturn in fixed income markets, along with a slump in debt and equity underwriting activity, is expected to have significantly hit the firm.
Analyst ViewsFBR Capital slashed its Q2 EP estimate for the firm to $1.36 from $2.75 after JP Morgan (JPM) reported weaker than expected Q2 trading results, and Goldman announced its settlement with the SEC.
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