International Revenue -- Investor Insights from Glen Eagle

International Revenue

April 15, 2024

Enjoy this week's "Investor Insights," a weekly newsletter that highlights the financial news you need and provides tips and tricks for making better investment decisions.

Growing geopolitical risk has drawn the attention of investors recently. Within the S&P 500 the technology and materials sector have the highest exposure with 59% and 53% of their revenue generated outside the US. The utilities sector meanwhile only generates 1% of its revenue internationally. ₁

The stock market is hitting numerous all-time highs this year, a shift from previous years. From 2013 to 2021, the S&P 500 averaged slightly over 38 all-time highs before entering a bear market, with only one occurrence in 2022 and none in 2023. However, in 2024, there have already been 22 new highs in the first four months of the year! _*2

Individuals reporting incomes over $500K or under $25K face double the likelihood of an IRS audit compared to those with incomes between $25K and $500K (0.4% versus 0.2%). Those reporting incomes exceeding $10 million have the highest audit probability, averaging 2.4% in 2020. ₃

S&P operating earnings are projected to rise by 10% this year, followed by increases of 14% and 11% in the next two years. Such consecutive double-digit growth outside of recession recoveries has only occurred twice since the 1980s, during the mid-1990s and mid-2000s. ₄

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Sources:

Fact Set – “S&P 500: Aggregate Geographic Revenue Exposure (%)”
The Irrelevant Investor – “Don't Be Afraid"
MFS - "Beyond the News"
WSJ - "Interest Rates Have Investors Worried. Profits Give Them Comfort."

*Past performance is not indicative of future performance

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Disclosure: This information is furnished for the use of Glen Eagle Advisors, LLC, Glen Eagle Wealth, LLC, and their clients and/or contacts. It does not constitute the provision of investment advice to any person. It is not prepared with respect to the specific objectives, financial situation, or particular needs of any specific person. Investors reading this commentary should consult with their Glen Eagle representative/financial advisor regarding the appropriateness of investing in any securities or adapting any investment strategies discussed or recommended in this newsletter.

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