Justin Lahart

speaker

1,185 appearances 22 recordings 1 series first heard Jul 2017 last heard Dec 2024

Justin Lahart’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Corporate Profits Could Be Weaker Than They Seem · 1 Jun 2018 podcast

A lot of times the profits they report or the profits that they want people to use exclude a lot of one-time charges. matched

They say, well, you know, that was not a normal part of business, so we're going to exclude that. matched

And that's something – so the government also does profit numbers, and they're a little bit different. matched

First thing, they don't exclude all of those charges. matched

And also it's for profits from just U.S. matched

production, so mostly what's being earned here. matched

So there's a little bit of a different definition there. matched

But it is interesting that we've seen this big discrepancy between what the S&P 500 companies are saying and what the government is saying because this discrepancy wasn't there a couple of quarters ago. matched

Yeah, just that. matched

So it needs to be, it's economic data. matched

It's about the U.S. matched

economy. matched

It's about, you know, what's being produced here. matched

So if you produce something and then send it abroad, that counts, right? matched

But if you have a factory in Europe making cars, that doesn't count. matched

Well, we see the tax cut effect in both instances. matched

So one reason the S&P 500 numbers are up so much is because of this tax cut. matched

We also see it in the government numbers. matched

What's handy about the government numbers is that they also give a – matched

So, if you look at before tax profits, those were actually down 6% from a year ago. matched

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