10-14-2013, 07:10 PM
I like to keep close tabs on my stocks, and so I keep a speadsheet that includes quarterly earnings. Over the weekend, I was trying to update the spreadsheet, and was reminded just what an infuriating exercise it can be. I like to get my information from the company’s reports itself, but then usually find: adjusted, non-adjusted, GAAP, non-GAAP, from continuing operations, “one time” charges, with and without currency exchanges, etc., etc., etc. Not to mention restatements that revise a quarter’s numbers long after initially reported, such that the quarterly report does not match the annual report. Then I look at various financial websites, and their earnings info does not match ANY of the variants I found in looking at the company’s materials.
It is such an important number, but so hard to nail down. I know, I know, take a deep breath. “Earnings” are ultimately somewhat subjective, and need to be taken with a grain of salt.
What do you guys consider reliable sources for consistent earnings information? How do you think about / handle the amorphous aspects of earnings?
By the way, in my book the worst offender is PFE.
It is such an important number, but so hard to nail down. I know, I know, take a deep breath. “Earnings” are ultimately somewhat subjective, and need to be taken with a grain of salt.
What do you guys consider reliable sources for consistent earnings information? How do you think about / handle the amorphous aspects of earnings?
By the way, in my book the worst offender is PFE.