[NEW] Track insider transactions in real time. See the live feed.

Guidance Analysis Reveals Ongoing Uncertainty

AlphaSense Analyst

Q1 earnings saw an unprecedented volume of companies withdrawing guidance due to ongoing market disruptions resulting from COVID-19. As Q2 earnings wraps up, management positions continue to reflect the ongoing uncertainty surrounding the continued pandemic response.

This quarter, however, we began to see some companies reinstating previously withdrawn guidance, while others maintained their ambiguous position and declined to provide quarterly or annual guidance.

To understand which companies have been commenting on guidance and what positions they’ve taken over time, take a look at company commentary we’ve compiled below.

AS-Blog-Q2 Guidance - Chart 1

Overall, about 50% of the companies we analyzed provided guidance. The Consumer Discretionary and Real Estate sectors are not providing guidance at higher rates than other sectors. Energy, Financials and Materials companies appeared more confident, sharing guidance at higher rates.

AS-Blog-Q2 Guidance - Chart 2

AS-Blog-Q2 Guidance - Chart 3

Takeaways:

  • Since the huge spike in guidance withdrawals this Spring, companies have taken different approaches to providing guidance Q2 earnings, with a near even split between companies providing guidance and those declining to do so
  • Consumer Discretionary companies declined to provide guidance most often, accounting for 19% of companies not providing guidance this quarter
  • Information Technology companies account for 17% of companies declining to provide guidance and 24% of companies sharing guidance this quarter, showing a split in confidence across the sector
  • Lockheed Martin, KeyCorp, Iqvia and others increased guidance after tailwinds from COVID demand showed better-than-expected results
  • Some companies, including 3M, are no longer providing quarterly or annual guidance are updating investors monthly instead

AlphaSense can track management commentary on guidance in real-time across the entire market, by industry, or watchlist. Start your free trial of AlphaSense now or login to your account.

See the non-exhaustive list of companies with a $5B+ market cap and their Q2 updates on guidance below:

Company

GICS

Date of Original Status Update

Status

Q2 Update

Slack Technologies, Inc. Class A

Information Technology

6/4

Withdraw

Not providing guidance

Pan American Silver Corp.

Materials

6/1

Withdraw

Provided guidance

Singapore Telecommunications Limited

Communication Services

5/27

Withdraw

Not providing guidance

Dentsu Group Inc.

Communication Services

5/27

Withdraw

Not providing guidance

Anaplan, Inc.

Information Technology

5/26

Withdraw

Not providing guidance

Koc Holding A.S.

Industrials

5/22

Withdraw

Not providing guidance

Hormel Foods Corporation

Consumer Staples

5/21

Withdraw

Not providing guidance

Nordson Corporation

Industrials

5/20

Withdraw

Not providing guidance

Walmart Inc.

Consumer Staples

5/19

Withdraw

Not providing guidance

D.R. Horton, Inc.

Consumer Discretionary

5/19

Withdraw

Not providing guidance

Poste Italiane SpA

Financials

5/13

Withdraw

Not providing guidance

International Flavors & Fragrances Inc.

Materials

5/11

Withdraw

Not providing guidance

Genpact Limited

Information Technology

5/11

Withdraw

Provided guidance

Continental Resources, Inc.

Energy

5/11

Withdraw

Not providing guidance

Credicorp Ltd.

Financials

5/8

Withdraw

Not providing guidance

Wheaton Precious Metals Corp

Materials

5/7

Withdraw

Provided guidance

WEX Inc.

Information Technology

5/7

Withdraw

Not providing guidance

Waste Connections, Inc.

Industrials

5/7

Withdraw

Provided Guidance

Universal Display Corporation

Industrials

5/7

Withdraw

Not providing guidance

UDR, Inc.

Real Estate

5/7

Withdraw

Not providing guidance

Trade Desk, Inc.

Information Technology

5/7

Withdraw

Not providing guidance

TELUS Corporation

Communication Services

5/7

Withdraw

Not providing guidance

Motorola Solutions, Inc.

Information Technology

5/7

Withdraw

Provided guidance

Intuit Inc.

Information Technology

5/7

Withdraw

Not providing guidance

Guardant Health, Inc.

Healthcare

5/7

Withdraw

Not providing guidance

FleetCor Technologies, Inc.

Information Technology

5/7

Withdraw

Not providing guidance

Fiserv, Inc.

Information Technology

5/7

Withdraw

Not providing guidance

Cognizant Technology Solutions

Information Technology

5/7

Withdraw

Provided guidance

Becton, Dickinson and Company

Healthcare

5/7

Withdraw

Provided guidance

Wolters Kluwer NV

Industrials

5/6

Withdraw

Not providing guidance

Waste Management, Inc.

Industrials

5/6

Withdraw

Provided guidance

Twilio, Inc.

Information Technology

5/6

Withdraw

Provided guidance

Siemens Gamesa Renewable Energy, S.A.

Industrials

5/6

Withdraw

Provided guidance

PPD, Inc.

Healthcare

5/6

Withdraw

Provided guidance

PayPal Holdings Inc

Information Technology

5/6

Withdraw

Provided guidance

Invitation Homes, Inc.

Real Estate

5/6

Withdraw

Not providing guidance

Fortinet, Inc.

Information Technology

5/6

Withdraw

Not providing guidance

FLIR Systems, Inc.

Information Technology

5/6

Withdraw

Not providing guidance

Extra Space Storage Inc.

Real Estate

5/6

Withdraw

Not providing guidance

Essex Property Trust, Inc.

Real Estate

5/6

Withdraw

Not providing guidance

Corteva Inc

Materials

5/6

Withdraw

Provided guidance

Ceridian HCM Holding, Inc.

Information Technology

5/6

Withdraw

Provided guidance

CenturyLink, Inc.

Communication Services

5/6

Withdraw

Not providing guidance

TransDigm Group Incorporated

Industrials

5/5

Withdraw

Not providing guidance

PerkinElmer, Inc.

Healthcare

5/5

Withdraw

Provided guidance

Westinghouse Air Brake Technologies Corporation

Industrials

5/4

Withdraw

Provided guidance

Honeywell International Inc.

Industrials

5/1

Withdraw

Not providing guidance

Colgate-Palmolive Company

Consumer Staples

5/1

Withdraw

Not providing guidance

Willis Towers Watson Public Limited Co.

Financials

4/30

Withdraw

Not providing guidance

Teleflex Incorporated

Healthcare

4/30

Withdraw

Not providing guidance

Pentair plc

Industrials

4/30

Withdraw

Provided guidance

Lloyds Banking Group plc

Financials

4/30

Withdraw

Provided Guidance

Kilroy Realty Corporation

Real Estate

4/30

Withdraw

Not providing guidance

International Paper Company

Materials

4/30

Withdraw

Not providing guidance

IDEXX Laboratories, Inc.

Healthcare

4/30

Withdraw

Not providing guidance

Eaton Corp. Plc

Industrials

4/30

Withdraw

Provided guidance

DSV Panalpina A/S

Transportation

4/30

Withdraw

Provided guidance

Church & Dwight Co., Inc.

Consumer Staples

4/30

Withdraw

Provided guidance

Altria Group Inc

Consumer Staples

4/30

Withdraw

Provided guidance

CACI International

Information Technology

4/30

Hold

Provided guidance

Yum! Brands, Inc.

Consumer Discretionary

4/29

Withdraw

Not providing guidance

Tyler Technologies, Inc.

Information Technology

4/29

Withdraw

Provided guidance

Laboratory Corporation of America Holdings

Healthcare

4/29

Withdraw

Not providing guidance

Klepierre SA

Real Estate

4/29

Withdraw

Not providing guidance

Humana Inc.

Healthcare

4/29

Withdraw

Provided guidance

Fair Isaac Corporation

Information Technology

4/29

Withdraw

Not providing guidance

Donaldson Company, Inc.

Industrials

4/29

Withdraw

Not providing guidance

BASF SE

Materials

4/29

Withdraw

Not providing guidance

Anthem, Inc.

Healthcare

4/29

Withdraw

Provided guidance

Align Technology, Inc.

Healthcare

4/29

Withdraw

Not providing guidance

Zebra Technologies

Information Technology

4/28

Withdraw

Provided guidance

Waters Corporation

Healthcare

4/28

Withdraw

Not providing guidance

Universal Health Services

Healthcare

4/28

Withdraw

Not providing guidance

Trans Union

Industrials

4/28

Withdraw

Not providing guidance

SiriusXM

Communication Services

4/28

Withdraw

Provided guidance

Paycom Software, Inc.

Information Technology

4/28

Withdraw

Provided guidance

ONEOK, Inc.

Energy

4/28

Withdraw

Provided guidance

Mondelez International, Inc. Class A

Consumer Staples

4/28

Withdraw

Not providing guidance

Juniper Networks, Inc.

Information Technology

4/28

Withdraw

Provided guidance

Caterpillar Inc.

Industrials

4/28

Withdraw

Not providing guidance

3M

Industrials

4/28

Withdraw

Provided guidance

Novartis

Healthcare

4/28

Hold

Provided guidance

Pfizer

Healthcare

4/28

Adjustments

Provided guidance

Merck & Co

Healthcare

4/28

Adjustments

Provided guidance

Verizon

Communication Services

4/24

Withdraw

Provided guidance

PulteGroup, Inc.

Consumer Discretionary

4/23

Withdraw

Provided guidance

Eli Lilly

Healthcare

4/23

Adjustments

Provided guidance

Quest Diagnostics Incorporated

Healthcare

4/22

Withdraw

Provided guidance

Kimberly-Clark Corporation

Consumer Staples

4/22

Withdraw

Provided guidance

Lyft Inc

Industrials

4/21

Withdraw

Not providing guidance

HCA Healthcare Inc

Healthcare

4/21

Withdraw

Not providing guidance

Entegris, Inc.

Information Technology

4/21

Withdraw

Provided guidance

Dover Corp

Industrials

4/21

Withdraw

Provided guidance

Carlisle Companies Incorporated

Industrials

4/21

Withdraw

Provided guidance

Atos SE

Information Technology

4/21

Withdraw

Provided guidance

Philip Morris

Consumer Staples

4/21

Adjustments

Provided guidance

Lockheed Martin

Industrials

4/21

Adjustments

Provided guidance

Emerson Electric

Energy

4/21

Adjustments

Provided guidance

Vale SA

Materials

4/20

Withdraw

Provided guidance

IBM

Information Technology

4/20

Withdraw

Not providing guidance

Equifax Inc

Industrials

4/20

Withdraw

Not providing guidance

Kansas City Southen

Industrials

4/17

Withdraw

Provided guidance

Volkswagen

Industrials

4/16

Withdraw

Provided guidance

Sonoco

Materials

4/16

Withdraw

Provided guidance

Keycorp

Financials

4/16

Withdraw

Provided guidance

CDW

Information Technology

4/16

Withdraw

Not providing guidance

Abbott

Healthcare

4/16

Withdraw

Provided guidance

Camden Property Trust

Real Estate

4/15

Withdraw

Not providing guidance

Howmet Aerospace

Industrials

4/14

Withdraw

Provided guidance

Roku

Communication Services

4/13

Withdraw

Not providing guidance

Mettler-Toledo International

Healthcare

4/13

Withdraw

Provided guidance

FIS

Information Technology

4/13

Withdraw

Not providing guidance

Agilent Technologies

Healthcare

4/13

Withdraw

Not providing guidance

Advance Auto Parts

Consumer Discretionary

4/10

Withdraw

Not providing guidance

Realty Income

Real Estate

4/9

Withdraw

Provided guidance

EPAM

Information Technology

4/9

Withdraw

Provided guidance

Diageo

Consumer Discretionary

4/9

Withdraw

Not providing guidance

Allegion

Industrials

4/9

Withdraw

Provided guidance

FactSet

Financials

4/9

Hold

Provided guidance

Starbuck's

Consumer Discretionary

4/8

Withdraw

Provided guidance

Masco

Industrials

4/8

Withdraw

Provided guidance

Heineken

Consumer Staples

4/8

Withdraw

Not providing guidance

SAP

Information Technology

4/8

Adjustments

Provided guidance

Pinterest

Communication Services

4/7

Withdraw

Provided guidance

Hologic

Healthcare

4/7

Withdraw

Provided guidance

Henkel AG

Consumer Staples

4/7

Withdraw

Not providing guidance

Deutsche Post

Industrials

4/7

Withdraw

Provided guidance

Zimmer Biomet

Healthcare

4/6

Withdraw

Not providing guidance

Thermo Fischer Scientific

Healthcare

4/6

Withdraw

Not providing guidance

Penumbra

Healthcare

4/6

Withdraw

Not providing guidance

Henry Schein

Healthcare

4/6

Withdraw

Not providing guidance

Global Payments Inc

Information Technology

4/6

Withdraw

Not providing guidance

Genuine Parts

Consumer Discretionary

4/6

Withdraw

Not providing guidance

HP

Information Technology

4/6

Uncertain

Provided guidance

Service Corp International

Consumer Discretionary

4/3

Withdraw

Provided guidance

RTL Group

Communication Services

4/3

Withdraw

Not providing guidance

Carrier

Industrials

4/3

Withdraw

Provided guidance

Bae Systems

Industrials

4/3

Uncertain

Provided guidance

Iqvia

Healthcare

4/3

Adjustments

Provided guidance

Textron

Industrials

4/2

Withdraw

Provided guidance

Stanley Black & Decker

Industrials

4/2

Withdraw

Not providing guidance

GoDaddy

Information Technology

4/2

Withdraw

Provided guidance

Etsy

Consumer Discretionary

4/2

Withdraw

Provided guidance

National Grid

Utilities

4/2

Hold

Provided guidance

T-Mobile

Communication Services

4/1

Withdraw

Provided guidance

Shopify

Information Technology

4/1

Withdraw

Not providing guidance

Lamb Weston

Consumer Staples

4/1

Withdraw

Not providing guidance

Kinross Gold

Materials

4/1

Withdraw

Not providing guidance

Continental AG

Industrials

4/1

Withdraw

Not providing guidance

Masimo Corp

Healthcare

4/1

Uncertain

Not providing guidance

Kroger Co

Consumer Staples

4/1

Hold

Not providing guidance

Xylem

Industrials

3/31

Withdraw

Not providing guidance

Stryker

Healthcare

3/31

Withdraw

Not providing guidance

Munich Re

Financials

3/31

Withdraw

Provided guidance

McCormick

Consumer Staples

3/31

Withdraw

Not providing guidance

Dollar Tree

Consumer Discretionary

3/31

Withdraw

Not providing guidance

Imperial Oil

Energy

3/31

Adjustments

Not providing guidance

Conagra

Consumer Staples

3/31

Adjustments

Provided guidance

UPM

Materials

3/30

Withdraw

Provided guidance

Netapp

Information Technology

3/30

Withdraw

Not providing guidance

Domino's Pizza, Inc.

Consumer Discretionary

3/30

Withdraw

Not providing guidance

Boston Scientific

Healthcare

3/30

Withdraw

Provided guidance

Smith & Nephew

Healthcare

3/30

Uncertain

Not providing guidance

Abb Ltd

Industrials

3/30

Uncertain

Provided guidance

QBE Insurance

Financials

3/29

Withdraw

Provided guidance

Western Union

Information Technology

3/27

Withdraw

Provided guidance

Molson Coors

Consumer Staples

3/27

Withdraw

Not providing guidance

Bruker

Healthcare

3/27

Withdraw

Not providing guidance

VMWare

Information Technology

3/26

Withdraw

Not providing guidance

Umicore

Materials

3/26

Withdraw

Provided guidance

Scout24 AG

Communication Services

3/26

Withdraw

Provided guidance

MTU Aero Engines

Industrials

3/26

Withdraw

Provided guidance

Magna International

Consumer Discretionary

3/26

Withdraw

Provided guidance

Lululemon

Consumer Discretionary

3/26

Withdraw

Not providing guidance

LKQ Corp

Consumer Discretionary

3/26

Withdraw

Not providing guidance

Infineon

Information Technology

3/26

Withdraw

Provided guidance

Dell

Information Technology

3/26

Withdraw

Provided guidance

Analog Devices

Information Technology

3/26

Withdraw

Provided guidance

Ugi Corp

Utilities

3/26

Uncertain

Provided guidance

Telia

Communication Services

3/26

Uncertain

Provided guidance

Splunk

Information Technology

3/26

Uncertain

Not providing guidance

Kion group

Industrials

3/26

Uncertain

Not providing guidance

Novo Nordisk

Healthcare

3/26

Hold

Provided Guidance

Paychex Inc

Information Technology

3/26

Adjustments

Provided Guidance

Whirlpool

Consumer Discretionary

3/25

Withdraw

Not providing guidance

SunPower Corp

Information Technology

3/25

Withdraw

Provided Guidance

Mid America Apartment Communities

Real Estate

3/25

Withdraw

Not providing guidance

Nike

Consumer Discretionary

3/25

Uncertain

Not providing guidance

Square

Financials

3/24

Withdraw

Not providing guidance

GM

Industrials

3/24

Withdraw

Not providing guidance

elanco

Healthcare

3/24

Withdraw

Provided Guidance

Agnico Eagle Mines

Materials

3/24

Withdraw

Provided Guidance

Suncor

Energy

3/24

Adjustments

Provided Guidance

IHS Markit

Industrials

3/24

Adjustments

Provided Guidance

Chevron

Energy

3/24

Adjustments

Provided Guidance

Unibail-Rodamco

Real Estate

3/23

Withdraw

Not providing guidance

Newmont

Materials

3/23

Withdraw

Provided guidance

Deere & Co

Industrials

3/23

Withdraw

Provided guidance

Cummins

Industrials

3/23

Withdraw

Not providing guidance

Best Buy

Consumer Discretionary

3/23

Withdraw

Not providing guidance

Sysco

Consumer Staples

3/20

Withdraw

Not providing guidance

RPM

Materials

3/20

Withdraw

Not providing guidance

BMW

Consumer Discretionary

3/20

Adjustments

Provided guidance

Target

Consumer Discretionary

3/19

Withdraw

Not providing guidance

Ford

Industrials

3/19

Withdraw

Provided guidance

Exact Sciences

Healthcare

3/19

Withdraw

Not providing guidance

Darden Restaurant

Consumer Discretionary

3/19

Withdraw

Not providing guidance

Cintas

Industrials

3/19

Withdraw

Not providing guidance

Burlington Stores

Consumer Discretionary

3/19

Withdraw

Not providing guidance

KDP

Consumer Staples

3/19

Adjustments

Provided guidance

ConocoPhillips

Energy

3/18

Withdraw

Not providing guidance

Tapestry

Consumer Discretionary

3/18

Adjustments

Not providing guidance

General Mills Inc

Consumer Staples

3/18

Adjustments

Not providing guidance

Lam Research

Information Technology

3/17

Withdraw

Provided guidance

Capri

Consumer Discretionary

3/17

Uncertain

Not providing guidance

Baxter

Healthcare

3/17

Uncertain

Provided guidance

Broadcom Inc

Information Technology

3/12

Withdraw

Provided guidance

Ulta Beauty

Consumer Discretionary

3/12

Uncertain

Not providing guidance

Gap

Consumer Discretionary

3/12

Uncertain

Not providing guidance

TransUnion

Industrials

3/12

Hold

Provided Guidance

Parker-Hannifin

Industrials

3/12

Hold

Provided guidance

CVS

Healthcare

3/12

Hold

Provided guidance

Huntington Bancshares

Financials

3/11

Uncertain

Provided guidance

Sherwin Williams

Materials

3/11

Hold

Provided guidance

Cigna

Healthcare

3/11

Hold

Provided guidance

Moody's

Financials

3/11

Adjustments

Provided guidance

Royal Caribbean

Consumer Discretionary

3/10

Withdraw

Not providing guidance

Delta Air Lines Inc

Industrials

3/10

Withdraw

Not providing guidance

The Cooper Companies Inc

Healthcare

3/10

Hold

Not providing guidance

Anthem Inc

Healthcare

3/10

Hold

Provided guidance

Host Hotels

Consumer Discretionary

3/9

Withdraw

Not providing guidance

Bookings Holdings

Consumer Discretionary

3/9

Withdraw

Not providing guidance

Advanced Micro Devices Inc

Information Technology

3/5

Hold

Provided guidance

Marvell Technology

Information Technology

3/5

Adjustments

Provided guidance

Home Depot

Consumer Discretionary

3/4

Hold

Not providing guidance

Brown-Forman

Consumer Staples

3/4

Adjustments

Not providing guidance

United Rentals

Industrials

3/3

Withdraw

Provided guidance

Qorvo

Information Technology

3/3

Adjustments

Provided guidance

Microchip Technology

Information Technology

3/2

Withdraw

Provided guidance

Fidelity National Information Services

Information Technology

3/2

Hold

Not providing guidance

Nutanix

Information Technology

3/2

Adjustments

Not providing guidance

Apple

Information Technology

2/18

Adjustments

Not providing guidance

 

Unlock trial access

Get started with 2 weeks of free trial access to AlphaSense. Rapidly search the world's business information — transcripts, filings, research, trade journals & more.

Schedule a demo

×