When Do Companies Publish Earnings? Dates for WSE and US Stocks
Earnings season returns four times a year, and each time it surprises those who haven't checked the calendar. Here's what that rhythm looks like in Poland and the US.
The rhythm of four quarters
Publicly traded companies report to the market every three months. After the quarter ends, they have a set amount of time to prepare their report — which is why releases accumulate in a several-week window called earnings season.
In the US market, the season usually begins in the second week after the quarter closes, i.e., mid-January, April, July, and October. The largest banks traditionally kick it off, and the main part of the market, including tech companies, reports in the following two to three weeks.
Dates on the Warsaw Stock Exchange
Polish regulations give companies a wider window than US ones, so releases are more spread out. The semi-annual report and annual report have longer deadlines than quarterly reports.
Every WSE-listed company is required to provide an earnings release schedule for the entire year in advance — and publish it as a current report. A change in date also requires a separate announcement, so the dates are publicly known beforehand.
- Quarterly report — the shortest, usually just the income statement and basic data.
- Semi-annual report — more comprehensive, reviewed by an auditor.
- Annual report — a full, audited statement along with the management report.
- Estimated results — some companies release preliminary figures earlier if they differ from market expectations.
Before market open or after market close — why it matters
US companies release reports either before the market opens or after it closes. This distinction changes practically everything: a report announced after market close will only be reflected in the share price the next day, and in the meantime, trading occurs off-hours, with low liquidity and wide spreads.
Polish companies usually publish in the morning, before or during the trading session. However, there isn't the same regularity as in the US, and publication times are often unavailable. In such cases, the calendar shows the date as unconfirmed.
How to not miss your company's earnings report
The simplest way is to have a single place that shows the dates for all companies you're interested in. In Portevo, companies in your portfolio and watchlist are highlighted in the calendar, and a counter for each day shows how many of them are reporting.
It's also worth checking the macroeconomic events calendar. An inflation reading or an interest rate decision can overshadow even a very good report from a single company.
Frequently Asked Questions
How many times a year does a company report earnings?
Usually four times — after each quarter. The Q4 report is sometimes replaced by an annual report, which includes a full, audited statement.
Can earnings release dates be known in advance?
Yes. WSE-listed companies are required to publish an earnings calendar for the entire year, and to announce any changes to the date in a separate filing. US companies usually announce the date a few weeks before the release.
Why does the share price fall despite good earnings?
Because the market reacts to the difference between the actual results and expectations, not to the absolute level of profit. A record quarter that falls short of analysts' forecasts is seen as a disappointment.
Related
See who's reporting this week
The earnings calendar for WSE and US companies is available without creating an account.
Portevo is not an investment advisor. The data and analyses are for informational and educational purposes only and do not constitute a recommendation or an offer to buy or sell financial instruments. Quotes are from external providers and may be delayed. You make investment decisions at your own risk.
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