Tough Earnings Season Beckons as Iran War Hurts European Growth

As an earnings season clouded in geopolitical uncertainty gets underway, growth expectations for European companies might turn out to be far too ambitious.

Current estimates for 2026 earnings-per-share growth of 10.4% for the Stoxx 600 Europe index are too optimistic, Bloomberg Intelligence strategist Laurent Douillet said, citing tariff pressure, higher unemployment, weakening consumer sentiment and accelerating inflation.