This month we look at earnings momentum across sectors where we note Construction & Real Estate, notably the large contractors, have seen double digit increases in CY25 and CY26 EPS expectations over the last twelve months (see pages 4-5). This is the only subsector showing any meaningful momentum, with others remaining negative but more stable over the last few months. We also include input cost data across energy, building materials, and freight (see page 2), which have mostly seen a stabilisa ....
