Equity Profile

GS

The Goldman Sachs Group, Inc.

FinancialsInvestment Banking & Brokerage$306.4B

Jul14Tue

Pre-Earnings Brief

UpcomingQ2-2026Pre-Market9:00 AM EDT

Company Snapshot

The Goldman Sachs Group, Inc. is a leading global investment banking and brokerage firm that provides a wide range of financial services to corporations, governments, and institutions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$13.75

Revenue

Revenue figures provide insight into the company's overall performance and growth, reflecting its ability to generate income.

$15.8B

Wall Street expectations, options signals, track record, and call prep available with Pro.

GS Q2-2026 Earnings Preview

Context

Company Snapshot

The Goldman Sachs Group, Inc. is a leading global investment banking and brokerage firm that provides a wide range of financial services to corporations, governments, and institutions. With a market cap of $306 billion, Goldman Sachs plays a crucial role in the financial sector, particularly in investment banking, asset management, and securities trading.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+14.79%

Avg Stock Reaction

+1.12%

Last Quarter Recap

In Q1-2026, Goldman Sachs reported an EPS of $17.55, exceeding expectations by 7.39%. However, the stock fell by 1.87% the following day, indicating mixed investor sentiment despite the earnings beat.

Management Promises & Guidance

Expectations

Wall Street Expectations

Analysts expect Goldman Sachs to deliver solid earnings in Q2-2026, with a consensus EPS of $13.75. The market is keenly watching for any signs of continued strength in investment banking and trading revenues.

Bull Case

If Goldman Sachs beats EPS estimates and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations or provides weak guidance, it may raise concerns about the sustainability of its recent performance, leading to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$13.75

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

$15.8B

Revenue figures provide insight into the company's overall performance and growth, reflecting its ability to generate income.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Goldman Sachs achieve an EPS of $13.75 or higher?

This number is critical as it sets the tone for investor confidence and reflects the company's profitability.

What guidance will management provide regarding future revenue growth?

Future revenue expectations will help investors gauge the company's growth trajectory and market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Goldman Sachs' ability to capitalize on recent market volatility, which could lead to higher trading revenues than expected.

Supporting Evidence

Goldman has consistently beaten EPS estimates in recent quarters, suggesting strong operational performance.

The options market indicates a higher expected move, reflecting increased investor interest and potential for upside.

Insider selling may not reflect lack of confidence but rather strategic portfolio adjustments.

Key Risk

If trading revenue exceeds $5 billion, it could challenge the current consensus and lead to upward revisions.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Goldman Sachs can maintain its strong earnings performance amid changing market conditions.

Bull Confirmed If

An EPS of $14.00 or higher would confirm strong performance and investor confidence.

Bear Confirmed If

An EPS below $13.00 would raise concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±9.16%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±9.2% while GS has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

27.1%

Calls (1.4M)P/C Ratio: 0.25Puts (1.3M)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$11,006.24

20,012 sh

1 insider

Sold

$2.1M

22,159 sh

2 insiders

Net

$2.1M

Net selling

Most Active Insiders· 16 open-market trades

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Goldman Sachs beats expectations, history suggests a positive stock reaction of around +1.12%, confirming strong demand for its services.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

If the company misses earnings expectations, history suggests a potential downside move of around -2.04%, indicating investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

5 buys·7 sells

Members

House + Senate

Est. Notional

$1.8M–$6.8M

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading revenue performance in light of recent market volatility.
2Management's commentary on investment banking activity and deal flow.
3Insights into cost management and efficiency initiatives.
4Guidance on expected market conditions for the remainder of the year.
5Any strategic shifts in response to competitive pressures.

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Company Snapshot

The Goldman Sachs Group, Inc. is a leading global investment banking and brokerage firm that provides a wide range of financial services to corporations, governments, and institutions....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

$13.75

Revenue

Revenue figures provide insight into the company's overall performance and growth, reflecting its ability to generate income.

$15.8B

Wall Street expectations, options signals, track record, and call prep available with Pro.

GS Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+14.79%

Avg Stock Reaction

+1.12%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Goldman Sachs beats EPS estimates and shows strong revenue growth, it could signal robust demand for its services and lead to a positive stock reaction.

Bear Case

Conversely, if the company misses earnings expectations or provides weak guidance, it may raise concerns about the sustainability of its recent performance, leading to a negative market reaction.

Key Metrics to Watch

Earnings Per Share (EPS)

$13.75

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

Revenue

$15.8B

Revenue figures provide insight into the company's overall performance and growth, reflecting its ability to generate income.

Expectations

Two Questions That Matter

The print will turn on these two things.

Will Goldman Sachs achieve an EPS of $13.75 or higher?

This number is critical as it sets the tone for investor confidence and reflects the company's profitability.

What guidance will management provide regarding future revenue growth?

Future revenue expectations will help investors gauge the company's growth trajectory and market conditions.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Goldman Sachs' ability to capitalize on recent market volatility, which could lead to higher trading revenues than expected.

Supporting Evidence

Goldman has consistently beaten EPS estimates in recent quarters, suggesting strong operational performance.

The options market indicates a higher expected move, reflecting increased investor interest and potential for upside.

Insider selling may not reflect lack of confidence but rather strategic portfolio adjustments.

Key Risk

If trading revenue exceeds $5 billion, it could challenge the current consensus and lead to upward revisions.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Goldman Sachs can maintain its strong earnings performance amid changing market conditions.

Bull Confirmed If

An EPS of $14.00 or higher would confirm strong performance and investor confidence.

Bear Confirmed If

An EPS below $13.00 would raise concerns about profitability and market demand.

Pre-Earnings Positioning

Options Market

Implied Move

±9.16%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors expect volatility around the earnings announcement.

Options are pricing ±9.2% while GS has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

27.1%

Calls (1.4M)P/C Ratio: 0.25Puts (1.3M)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$11,006.24

20,012 sh

1 insider

Sold

$2.1M

22,159 sh

2 insiders

Net

$2.1M

Net selling

Most Active Insiders· 16 open-market trades

Insider

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Goldman Sachs beats expectations, history suggests a positive stock reaction of around +1.12%, confirming strong demand for its services.

In-Line / Cautious

If results are in line with expectations, the stock may react cautiously, reflecting uncertainty in future growth.

Miss

If the company misses earnings expectations, history suggests a potential downside move of around -2.04%, indicating investor disappointment.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

5 buys·7 sells

Members

House + Senate

Est. Notional

$1.8M–$6.8M

disclosed dollar ranges

Most Active Members

R-OKMarkwayne MullinSen.
3

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on trading revenue performance in light of recent market volatility.
2Management's commentary on investment banking activity and deal flow.
3Insights into cost management and efficiency initiatives.
4Guidance on expected market conditions for the remainder of the year.
5Any strategic shifts in response to competitive pressures.