Bloomberg Surveillance · Tuesday, July 28, 2026
Laurie Kelvasina warned that companies have managed well through challenges, but this may not last. A key risk in the coming months is the potential need to revise down 2027 earnings forecasts. This is not due to comparable periods but rather the depletion of buffers, inventories, and hedges that have helped companies navigate the past few quarters.
“And so one thing we've been highlighting to people is that sort of a risk we see in the coming months is at some point you may need to pull down twenty twenty seven earnings forecasts.”
“But it is the idea that you look at the Iran war, for example, the buffers, the inventories, the hedges, those things that are kind of getting you through the next couple quarters where you're going to have to reset those, you're going to have to replenish those. We even heard last week one rail talking about how plastics inventories were starting to be rebuilt. Those are going to be done at higher prices.”