Theme 1: Firms pulling all available levers to support margins
Firms found varying degrees of success in adjusting pricing and costs in
order to support record high margins. Other companies prioritized sales
growth or relied on operating leverage to drive the bottom line.
Theme 2: China results mixed but future remains promising
Some companies saw their businesses in China continue to post strong
growth while others felt the economic slowdown. Managements uniformly
remain confident in future growth and the role of China in long-term plans.
Theme 3: The impact of rising interest rates
Financial firms highlighted the earnings impact from rising interest rates.
Other companies focused on debt costs and pension obligations.
Theme 4: The effect of unusual weather on corporate results
Some managements commented on the impact to sales from exceptionally
cool, wet weather in some regions and an unusually hot summer in others.