Companies aren't withdrawing guidance — but there's a big caveat ✽

An above-average number of companies have actually reaffirmed guidance 🫣

With uncertainty so unusually high, I expected a lot of companies to withdraw or decline to provide financial guidance during this earnings season.

That hasn’t happened.

While there has been a slight uptick in companies withdrawing guidance, it’s not been the spike I have been expecting in a business environment where many managers have openly acknowledged lack of visibility amid trade policy uncertainty.

HOWEVER, much of the guidance companies have provided has come with a major caveat.