Nomura flags earnings resilience, oil and geopolitics risks
In short
Nomura said earnings outside oil and gas could grow 11-12% over the next nine months of FY27. It also warned that if crude stays above $100, earnings could be cut.
That matters for stock valuations and for investors watching energy costs. The report does not say what would push oil that high.
What the reporting says
Nomura expects earnings growth excluding oil and gas at 11-12% over the remaining nine months of FY27, according to a publisher summary. The note also says sustained crude above $100 could trigger earnings cuts, pointing to oil and geopolitical risks as the main drag. The immediate market implication is valuation pressure if energy costs stay elevated; what triggers the forecast is not stated in the available reporting.
Why it matters
Nomura’s outlook points to resilience in broader corporate earnings over the remaining nine months of FY27, while warning that oil and geopolitics could still hurt valuations. The specific risk named in the publisher summary is crude staying above $100, which could lead to earnings cuts. The reporting does not say which sectors besides oil and gas would be hit most or what assumption sits behind the forecast.