The 1Q26 earnings season is already underway, with a high concentration of releases in the coming weeks that will provide greater clarity on how companies are evolving in the current economic environment, marked by elevated uncertainty.

Expectations remain constructive, particularly in the United States, where double-digit earnings growth is anticipated. In Europe, growth is expected to be more moderate, although revisions remain contained, pointing to a degree of resilience across the earnings cycle.

However, beyond the quarterly figures, market focus may shift toward corporate guidance. Visibility on margins, demand, and capital allocation will be key to assessing the sustainability of growth in an still uncertain environment.

In this context, dispersion across sectors and companies could increase, with those demonstrating greater adaptability standing out.

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