The Impact of COVID-19 on Earnings and Earnings Persistence: Evidence from Publicly Traded U.S. Firms Across Selected Industries
Year: 2026
Type: article
Abstract: This study examined the impact of COVID-19 on earnings performance, post-pandemic recovery, and earnings persistence across four U.S. industries: airlines, hotels, pharmaceutical manufacturing, and communications equipment manufacturing. Using quarterly data from 2018–2023, earnings were compared across pre-COVID, COVID-19, and post-COVID periods. Results showed that airlines and hotels experienced significant earnings declines during the pandemic, although hotels recovered more quickly afterward. Pharmaceutical and communications equipment manufacturing industries remained stable. Earnings persistence increased significantly only in the hotel industry during the pandemic. Overall, the findings suggest that industry characteristics influence earnings changes, recovery speed, and earnings stability during economic crises.
DOI: 10.33423/qwv2n790
Authors: Sue Kong, Liaoliao Li, Emma Hao
Institution: Kutztown University
Language: English
Topic: COVID-19 Pandemic Impacts
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7225583109