When Is Earnings Season?

Earnings season marks the time when a large number of publicly traded companies release their quarterly earnings reports. Each earnings season begins one or two weeks after the last month of each quarter. Investors see most public companies release their earnings in early to mid-January, April, July, and October. The exact date of an earnings release depends on when the company’s quarter ends.

Key Takeaways

• Earnings season is when publicly traded companies release their quarterly earnings reports.
• Most earnings reports are released in January, April, July, and October.
• Investors rely on earnings reports to see the financial health of publicly traded companies.

Earnings Timeline

Based on requirements issued by the Securities and Exchange Commission (SEC), publicly traded companies must file quarterly numbers using SEC Form 10-Q and annual figures with Form 10-K reports by required deadlines. Most public companies use calendar quarters, so earnings season follows this schedule. It typically begins early to mid-January, early to mid-April, early to mid-July, and early to mid-October.

Companies may issue a press release concurrent with their quarterly reports. These press releases often predict what management expects its numbers will be. Companies that issue a press release must file SEC Form 8-K, which announces a major event for shareholders.

Note

Earnings season ends as the number of reports slows and the filing deadlines approach.

What Earnings Season Means for Investors

Investors rely on earnings calendars to anticipate news from large publicly traded companies. Analysts, traders, and investors review earnings reports, which may affect their positions in a company.

Earnings reports often affect financial markets and other investments. It is not unheard of to see shares jump or fall based on earnings. It is also a highly active time for financial news media, such as CNBC and The Wall Street Journal. There is extensive media coverage of the major earnings releases from a general recap of the earnings to whether the companies missed, met, or beat analyst expectations.

For example, on Jan. 15, 2025, the earning reports of the largest U.S. banking groups were released, including JP Morgan Chase & Co, Wells Fargo & Company, Goldman Sachs Group, Inc., BlackRock, Inc., and Citigroup Inc. and the Dow Jones Industrial Average (DJIA) posted significant gains.

What Companies File Quarterly and Annual Earnings Reports?

Public companies with active shareholders that trade on exchanges like Nasdaq and the New York Stock Exchange must report accurate quarterly and end-of-year financial data.

How Does Earnings Season Affect Trader Behavior?

Some traders look forward to earnings season, as it can be a period where they can confirm their positions. Traders may short a stock before negative earnings and watch the price drop trigger a sell-off. Conversely, high production or revenue signals a swift upward trajectory or stock price for investors. Some investors may ignore the season with its “human” factors at play.

How Can Investors View Earnings Reports?

The SEC maintains the EDGAR database which includes quarterly and annual reports of publicly traded companies.

The Bottom Line

Earnings season occurs after the end of each quarter when most public companies release their earnings reports. Companies usually release reports with a press release. Financial markets respond to earnings reports and affect shareholder behavior.