Join waitlist
The books... not free though
10 Strategier Som Slår BörsenSvenska10 Strategier Som Slår Börsen10 Strategies That Beat the MarketEnglish10 Strategies That Beat the MarketProRealTime Coding Made SimpleEnglishProRealTime Coding Made Simple
600+StatisticsMarket statistics and edges1,327StrategiesBacktested strategy library18Research papersThe study behind the algos301DocsProBuilder coding reference27Algo development programCourses and lessons24Everything here feeds the 24 algosSee the algos

Stats › Individual stocks › Earnings date moves

Firms that pull their earnings date forward beat those that push it back by 2.7%

At the revision itself: 0.183%+0.183%At the revisionitselfBefore the announcement: 0.538%+0.538%Before theannouncementAnnouncement window: 1.578%+1.578%AnnouncementwindowAfter the announcement: 0.493%+0.493%After theannouncement

Advancers minus delayers, in event time around the announcement date. t statistics 1.52, 1.77, 4.85 and 2.13. Nothing happens when the date is moved. The market waits for the announcement and then prices the information the move contained.

When a company quietly moves its scheduled reporting date earlier, its stock outperforms over the following month. When it pushes the date back, the stock lags. The spread is 2.688% with a t statistic of 4.15.

2.688%Advancers minus delayers over the month after the revision, t = 4.15
0.183%The return at the revision itself, t = 1.52: nothing happens
138 bpWeekly four-factor alpha at five or more positions a side, t = 5.44
Over 60%Share of the monthly spread earned in the three days around the announcement

Members only

The rest of this page is for members

Below this point there are 5 sections, 1 table and 2 named sources, roughly 500 words of it. Every figure carries the source it came from and the date the data is from.

You can keep browsing every statistic in the library for free. The intro and the summary are always open.