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Trump advocates doing away with quarterly reports
Posted on 9/15/25 at 8:21 am
Posted on 9/15/25 at 8:21 am
quote:CNBC
President Donald Trump floated the idea Monday of companies no longer providing earnings report on a quarterly basis and switching to semiannual instead.
In a Truth Social post, Trump said the idea is “subject to SEC approval” and would “save money, and allow managers to focus on properly running their companies.”
“Did you ever hear the statement that, ‘China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis??? Not good!!!’” Trump said.
The wisdom of quarterly reports has come under question before. In a 2018 op-ed piece for the Wall Street Journal, Berkshire Hathaway’s Warren Buffett and JPMorgan Chase CEO Jamie Dimon advocated doing away with quarterly guidance, though not earnings reports.
“In our experience, quarterly earnings guidance often leads to an unhealthy focus on short-term profits at the expense of long-term strategy, growth and sustainability,” the pair wrote.
Current regulations require companies to report on a quarterly basis, though providing forecasts is voluntary. The rules can be changed either from the Securities and Exchange Commission or could be altered by Congress.
Supporters of the current system say it provides investors with timely opportunity as well as transparency about public companies.
Despite Trump’s comments about China, companies there have reporting requirements that are similar to the U.S. if not more stringent. Chinese companies must file quarterly earnings reports as well as semiannual and annual reports.
Companies listed on the Hong Kong exchange, however, only report every six months.
Trump’s proposal would be more in line with practices in the UK and European Union, where companies are required to file semiannually but can issue quarterly reports if they choose.
Earlier this year, Norway’s sovereign wealth fund proposed switching to semiannual reporting, reasoning that lengthening the time frame would allow companies to focus on the longer term.
Kinda see both sides here. I do like Buffet and Dimons idea of no more guidance guesses.
9
Posted on 9/15/25 at 8:44 am to bigjoe1
Is this really in the shareholder's best interests? Less information when we are able to collect and analyze information real-time, faster than ever before?
I don't support.
I don't support.
Posted on 9/15/25 at 8:52 am to bigjoe1
On one hand companies focus too much on quarterly reports when making business decisions, on another hand the price volatility of those stocks on those yearly reports would be pretty insane.
Posted on 9/15/25 at 8:52 am to TDFreak
quote:
Is this really in the shareholder's best interests? Less information when we are able to collect and analyze information real-time, faster than ever before?
Meh. Warren Buffet and Jamie Dimon could be considered "on the left" from the perspective of not being of the same political leanings of Trump, but they are also known for fighting for shareholder value as executives and board members.
They are also, probably, 2 of the Top 10 "money smart" folks in the world.
This post was edited on 9/15/25 at 8:53 am
Posted on 9/15/25 at 9:22 am to Ace Midnight
His public companies were/are always a disaster so it limits his embarrassment. (just kidding he doesn't have that gene)
Posted on 9/15/25 at 9:25 am to bigjoe1
its worth a shot for a year or two to see how it goes. It would just fall into the stew of partisan politics, though.
Posted on 9/15/25 at 9:32 am to bigjoe1
Split the difference and go Bi like fareplay
Posted on 9/15/25 at 9:33 am to Tmcgin
quote:
His public companies were/are always a disaster so it limits his embarrassment. (just kidding he doesn't have that gene
There really is something wrong with you ppl
Posted on 9/15/25 at 9:48 am to SDVTiger
to be fair his post history shows his level of intelligence around money and politics. its not much
Posted on 9/15/25 at 9:53 am to castorinho
Yeah that's the thing. Volatility leading up to a 6 month report would be spectacular with a lot of stocks.
Posted on 9/15/25 at 10:50 am to bigjoe1
This addresses the symptoms not the issues.
Investors have no tolerance for short term losses and management is incentivized to focus on that. Quarterly financials don't cause the problem.
Investors have no tolerance for short term losses and management is incentivized to focus on that. Quarterly financials don't cause the problem.
Posted on 9/15/25 at 11:27 am to jamiegla1
quote:
its worth a shot for a year or two to see how it goes
Companies would need at least this much time to transition to bi-annual reporting.
Posted on 9/15/25 at 11:31 am to bigjoe1
Like!
We need more short term thinking and planning like we need more people running a quarterly process.
Now, incentivize 5-year reporting and results would be dream.
We need more short term thinking and planning like we need more people running a quarterly process.
Now, incentivize 5-year reporting and results would be dream.
Posted on 9/15/25 at 1:36 pm to bigjoe1
This is long overdue. I have experienced first-hand corporations doing stupid things to meet a quarterly analyst expectation. There are too few CEOs willing to push back against quarterly targets when ignoring them would result in a stronger business in some form or fashion. Remove the quarterly handcuffs.
Posted on 9/15/25 at 3:06 pm to bigjoe1
Simple conversation...which camp do you fall into:
1) Do you want the most frequent flow of information to the public on company performance? If so, maintain quarterly.
2) Do you want to shift public companies to having greater long-term management of the firm and reduce weeks of preparation / cost for quarterly reporting? If so, shift to twice a year.
1) Do you want the most frequent flow of information to the public on company performance? If so, maintain quarterly.
2) Do you want to shift public companies to having greater long-term management of the firm and reduce weeks of preparation / cost for quarterly reporting? If so, shift to twice a year.
Posted on 9/15/25 at 3:07 pm to TDFreak
The mandated reporting comes with some pretty hefty price tags. The quarterly review requirements are pretty weak. So in reality you are just getting informational not audited material. I'm not sure where i fall on this.
Posted on 9/15/25 at 3:08 pm to Sterling Archer
quote:
Companies would need at least this much time to transition to bi-annual reporting.
They would just skip a quarter. What do you mean? This could be quickly implemented.
Posted on 9/15/25 at 3:09 pm to RoyalWe
quote:
This is long overdue. I have experienced first-hand corporations doing stupid things to meet a quarterly analyst expectation.
This is where I lean initially but this is something worth hashing out from a lot of different angles.
Posted on 9/15/25 at 3:11 pm to lynxcat
FWIW, I would love a shift to twice a year. Quarterly earnings drives terrible behaviors.
Also, companies can still share information during that six months....maybe shift whatever blackout or quiet periods need to be.
Also, companies can still share information during that six months....maybe shift whatever blackout or quiet periods need to be.
Posted on 9/15/25 at 4:12 pm to bigjoe1
UK-registered companies report on a semi annual basis. So it’s been done before and is currently in practice.
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