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The word has been brought up in 121 of the 451 earnings calls conducted by S&P 500 firms between March 15 and May 15.

A recent report highlighted by The Kobeissi Letter on May 13, 2025, reveals that 23% of S&P 500 companies mentioned the word 'recession' during their Q1 2025 earnings discussions, marking the highest ...

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Financial data firm FactSet just ran the math: Of the 263 companies in the S&P 500 that held earnings calls from March 15 through April 30, 245 of them mentioned tariffs on those calls.