How to track the four quarterly US stock earnings reports? A complete guide to help you accurately grasp the release schedule of the first quarter earnings reports of listed companies

For US stock investors, learning how to interpret financial statements is an essential foundation for making investment decisions. However, before diving into detailed analysis, many novice investors often get stuck on the initial questions: How do I know when a company releases its financial reports? What information is included in these reports? And where can I access this information?

Today, we will systematically introduce the financial disclosure system of listed US companies.

Understand the Essence of Financial Reports First

Publicly traded US companies are required to regularly submit financial documents to the Securities and Exchange Commission (SEC). These documents not only record core financial data such as revenue, net profit, earnings per share, and cash flow, but also disclose management’s analysis of performance and forecasts for the future.

To ensure comparability of data submitted by all companies, the SEC has clear regulations on report formats and accounting standards. Companies must follow GAAP (Generally Accepted Accounting Principles), the standard accounting framework in the US. However, to present performance in the best possible light, many companies also release Non-GAAP figures—adjusted performance metrics that are not bound by GAAP standards.

Investors should pay special attention to the difference between these two sets of data—this often reflects the company’s true attitude towards its actual performance.

How Many Types of Financial Reports Are There in US Stocks?

A listed company typically releases four financial reports per year, including three quarterly reports and one annual report. Besides data disclosure, companies also hold earnings conference calls, inviting management, analysts, and investors to discuss performance.

Quarterly Reports (Q1, Q2, Q3)

Cover unreviewed financial data for three consecutive months, including balance sheets, income statements, and cash flow statements. Quarterly reports are usually submitted to the SEC within 40–45 days after the quarter ends.

Annual Reports (Year-end Reports)

Contain audited financial statements for the entire fiscal year (12 months), along with comprehensive analysis of the year’s performance and industry developments. These are generally completed and submitted within 60–90 days after the fiscal year ends.

Earnings Conference Calls

Management hosts conference calls after releasing financial reports to explain performance in depth and respond to analyst and investor questions. This often helps investors better understand the company’s actual operational status.

Why Do Different Companies Release Reports at Different Times? The Key Is the “Fiscal Year” Concept

Many investors are confused because not all US companies use the calendar year (January 1 to December 31) as their fiscal year. The SEC allows companies to choose their fiscal year start and end dates based on their business characteristics.

Fiscal Year (FY) refers to the accounting period chosen by the company, which may differ entirely from the calendar year.

For example, tech giants:

• Apple Inc.(AAPL) ends its fiscal year on September 24, with the first quarter starting on September 26
• Microsoft Corp.(MSFT) ends its fiscal year on June 30, with the first quarter starting on July 1

This difference means that when comparing quarterly performance between two companies, you need to align different actual time periods rather than simply looking at Q1 or Q2.

The Regularity of US Stock Financial Report Releases

Although each company’s release schedule varies, there is a clear pattern of concentrated reporting periods. Generally, many companies release quarterly reports within 1–2 weeks after the quarter ends (i.e., after March, June, September, and December).

However, the most reliable way to find the exact release date of a specific company’s report is through two methods:

1. Visit the company’s official investor relations website (search “Company Name + Investor Relations”)
2. Check financial calendar websites, such as Yahoo Finance, Nasdaq official site, Investing.com, or SeekingAlpha

How to Search for Financial Reports on the SEC Website

Understand SEC Document Coding System

The SEC assigns standard codes to different types of filings. Investors need to understand these codes related to financial reports:

Important Note: Foreign companies (e.g., Taiwan’s TSMC) listed in the US are not required to disclose quarterly reports; SEC only mandates quarterly data for US-based companies. Foreign companies may disclose some quarterly information via 6K filings, but the data is less comprehensive than 10Q.

Actual Search Steps

Step 1: Visit the SEC official website sec.gov and access the EDGAR filings database

Step 2: Enter the company’s stock ticker or full name in the search bar; for example, Apple Inc.(AAPL)

Step 3: On the company’s page, you’ll see a list of all submitted filings. Find the 10K (annual report) or 10Q (quarterly report) filings and click to view the full financial document.

How to Quickly Find Key Information in Large Financial Reports?

Financial reports are often lengthy, making it impractical for ordinary investors to read every word. The good news is that you only need to focus on the core sections to grasp the company’s most important performance data.

In the standard structure of annual reports, the following parts are most worth paying attention to:

Item 1: Business Overview

This section provides a comprehensive description of the company’s business model, operations, and industry context from the management’s perspective (not the consumer’s). When the company undergoes major strategic shifts or expands into new businesses, relevant details are also disclosed here. New investors should prioritize reading this to build a basic understanding.

Item 1A & Item 7A: Risk Disclosures

Companies list potential risks that could impact future operations, including company-specific risks (e.g., failure of technological innovation) and macro risks (e.g., exchange rate fluctuations, policy changes). Investors often overlook this part, but it is crucial for identifying hidden dangers within the company.

Item 7: Management’s Discussion and Analysis (MD&A)

This is one of the most critical parts of the financial report. Management explains the reasons behind changes in financial data compared to previous periods and provides forecasts for the next quarter or the entire year. To quickly understand a company’s performance, reading this section is the most efficient.

Item 8: Financial Statements and Supplementary Data

This section includes three core financial statements:

• Balance Sheet: Shows the company’s assets, liabilities, and shareholders’ equity at a specific point in time
• Income Statement: Reflects revenue, costs, profits, or losses over a period
• Cash Flow Statement: Explains the sources and uses of funds, divided into operating, investing, and financing activities

Supplementary data further break down these figures, such as revenue by business segment, interest rates on different debt types, and details of newly acquired assets. These details help investors identify the company’s strengths and weaknesses.

2022 Fiscal Year US Stock Company Financial Reports Release Timeline and Performance Highlights

The table below shows the release times and key financial indicators of various companies’ 2022 fiscal year reports. Note that although all are reporting data for 2022, the release times span over more than half a year:

Market cap as of February 22

Why Must Investors Proactively Study Financial Reports?

Obtain the Most Objective First-Hand Information

The market is flooded with news reports, analysis articles, and research papers, but these are often filtered and interpreted. In contrast, financial reports are official documents that companies are required to submit under SEC regulation, offering the highest level of information authenticity and completeness.

Many media outlets focus only on the Non-GAAP figures (adjusted earnings), ignoring or downplaying the GAAP data (unadjusted, real figures). The difference between these two sets of data often reveals the true picture of a company’s performance.

Fully Understand the Company’s Subtle Performance

Financial reports not only provide overall performance metrics but also include detailed breakdowns by business line, region, product line, etc. For example, you can see whether a company’s revenue growth in North America surpasses that in Asia, or whether a newly launched product line has become a growth engine.

Additionally, disclosures about business models and strategic planning often exceed investor expectations. For instance, analyzing the financial reports of companies like Disney(DIS), Amazon(AMZN), or Netflix(NFLX) reveals that their diversified business lines and long-term strategic layouts are far more complex than surface-level understanding.

Practical Tips for Tracking the First Quarter Financial Report Release

Now that you understand the classification, access methods, and key reading points of financial reports, here are some suggestions:

1. Regularly visit the company’s investor relations website to learn about upcoming report release dates
2. Use financial calendar tools to track the release dates of companies you are interested in, avoiding missing important information
3. Check the SEC website on the release day to obtain the latest 10K or 10Q filings
4. Focus on the MD&A section and financial statements to quickly grasp the company’s quarterly or annual performance
5. Compare GAAP and Non-GAAP figures to understand the company’s adjustment logic
6. Participate in or listen to earnings conference calls to gain management’s in-depth insights

Following these steps, you will be able to understand the company’s true situation earlier and more comprehensively than the average investor, enabling smarter investment decisions.