Lance Roberts: Strong 2026 earnings growth lowers S&P 500 forward P/E multiple

Lance Roberts: Strong 2026 earnings growth lowers S&P 500 forward P/E multiple
2026 S&P 500 earnings boost P/E ratio

Lance Roberts highlights that strong earnings growth projected for 2026 has contributed to a decrease in the S&P 500’s forward price-to-earnings multiple.

He notes that market consensus anticipates earnings growth will slow in 2027 and 2028. However, Roberts emphasizes that slower expected growth alone does not signal a need to sell—only a shortfall in earnings versus those expectations would be cause for concern.

Roberts previously reported that S&P 500 earnings grew 30% year-on-year in Q2 despite persistent bearish sentiment indicators (link). He has also observed that S&P 500 gains of 10% to 20% by late September have often been followed by a bullish fourth quarter (link). These earlier findings provide context to the current focus on forward earnings expectations.

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