Earnings Articles
Find a Stock’s Earnings Estimate Revisions
June 2026 by Sam Levine
Why revisions to earnings estimates are important and where you can find revisions data and tools on AAII.com.
June 2026 by Sam Levine
Why revisions to earnings estimates are important and where you can find revisions data and tools on AAII.com.
Why Tracking Earnings Estimate Revisions Pays Off
June 2026 by John Bajkowski
Screens based on upward revisions have shown a historical ability to identify potential outperformers.
June 2026 by John Bajkowski
Screens based on upward revisions have shown a historical ability to identify potential outperformers.
How to Analyze Corporate Earnings in Five Steps
July 2025 by Charles Rotblut
Earnings reports provide a snapshot of business performance, but they are most valuable when viewed as part of a longer-term trend.
July 2025 by Charles Rotblut
Earnings reports provide a snapshot of business performance, but they are most valuable when viewed as part of a longer-term trend.
Momentum Stocks With Positive Earnings Surprises
June 2025 by John Bajkowski
When the markets are volatile and the economic environment is shifting, it can be illuminating to observe companies that are surpassing expectations and rewarding investors with above-average price strength.
June 2025 by John Bajkowski
When the markets are volatile and the economic environment is shifting, it can be illuminating to observe companies that are surpassing expectations and rewarding investors with above-average price strength.
AI for Financial Document Analysis: Your Net in a Sea of Information
May 2025 by Wayne A. Thorp
Quickly processing news and reports with AI tools allows your finite attention to focus on interpretation and decision-making.
May 2025 by Wayne A. Thorp
Quickly processing news and reports with AI tools allows your finite attention to focus on interpretation and decision-making.
Getting to the Bottom Line: How to Read the Income Statement
May 2024 by Jack Gilleland
While it reports on profitability over a period of time, a firm’s income statement also offers valuable insights on internal operations.
May 2024 by Jack Gilleland
While it reports on profitability over a period of time, a firm’s income statement also offers valuable insights on internal operations.
Negative Earnings Prompts Turnover in Model Shadow Stock Portfolio
October 2023 by John Bajkowski
The three stocks removed for negative earnings are replaced by two additions.
October 2023 by John Bajkowski
The three stocks removed for negative earnings are replaced by two additions.
Using EBITDA and Enterprise Value to Calculate a Stock's Worth
October 2023 by Jack Gilleland
Some investors feel that examining a stock’s enterprise value relative to its earnings before interest, taxes, depreciation and amortization (EBITDA) is a superior method of measuring company value.
October 2023 by Jack Gilleland
Some investors feel that examining a stock’s enterprise value relative to its earnings before interest, taxes, depreciation and amortization (EBITDA) is a superior method of measuring company value.
Analysts Are Raising Earnings Estimates Following Second-Quarter Beats
September 2023 by Charles Rotblut
Second-quarter 2023 earnings season exceeded expectations by the highest margin in nearly two years.
September 2023 by Charles Rotblut
Second-quarter 2023 earnings season exceeded expectations by the highest margin in nearly two years.
Detecting Earnings Manipulation With the M-Score
September 2023 by Messod D. Beneish
The eight variables in the M-Score model are designed to capture bloating or cosmetic changes made to a company’s financial statement numbers.
September 2023 by Messod D. Beneish
The eight variables in the M-Score model are designed to capture bloating or cosmetic changes made to a company’s financial statement numbers.
Stocks With the Largest Change in Their Earnings Estimates
September 2023 by John Bajkowski
Even slight changes in expectations of future earnings or the earnings growth rate can translate into a significant and lasting impact on stock prices.
September 2023 by John Bajkowski
Even slight changes in expectations of future earnings or the earnings growth rate can translate into a significant and lasting impact on stock prices.
Leisure Stocks With Upward Estimate Revisions
August 2023 by Cynthia McLaughlin
This month’s Stocks First Cut screens for travel and leisure companies whose earnings estimates have been revised upward over the last month.
August 2023 by Cynthia McLaughlin
This month’s Stocks First Cut screens for travel and leisure companies whose earnings estimates have been revised upward over the last month.
What Helps and Doesn't Help Find Top-Performing Stocks
May 2023 by Martin Fridson
What drives stocks to be the number-one stock in the S&P 500 in terms of one-year returns is surprises.
May 2023 by Martin Fridson
What drives stocks to be the number-one stock in the S&P 500 in terms of one-year returns is surprises.
Tracking the Biggest Positive Earnings Estimate Revisions
August 2022 by Matt Markowski
An upward revision to the consensus estimate is a positive event, but it’s also important to track the percentage of analysts that have made revisions.
August 2022 by Matt Markowski
An upward revision to the consensus estimate is a positive event, but it’s also important to track the percentage of analysts that have made revisions.
How to Analyze Earnings Surprises
July 2022 by John Bajkowski
An earnings surprise occurs when a company’s reported profits are above or below financial analysts’ expectations, which can change its share price.
July 2022 by John Bajkowski
An earnings surprise occurs when a company’s reported profits are above or below financial analysts’ expectations, which can change its share price.
Earnings Expectations Lowered for Most Sectors
May 2022 by Charles Rotblut
Earnings estimate revisions indicate whether analysts are more optimistic or pessimistic about a company’s prospects.
May 2022 by Charles Rotblut
Earnings estimate revisions indicate whether analysts are more optimistic or pessimistic about a company’s prospects.
Profiting From Analysts' Revisions to Earnings Estimates
May 2022 by Jack Gilleland
AAII tracks a series of separate screens that look for companies with recent earnings estimate revisions.
May 2022 by Jack Gilleland
AAII tracks a series of separate screens that look for companies with recent earnings estimate revisions.
Strong Estimated Growth Fails to Lead to Strong Returns
July 2021 by Matthew Bajkowski
Results of backtesting the A+ Growth Grade with a projected earnings growth rate component.
July 2021 by Matthew Bajkowski
Results of backtesting the A+ Growth Grade with a projected earnings growth rate component.
Retail Stocks With Strong Momentum and Improving Estimates
November 2020 by John Bajkowski
As the coronavirus pandemic has accelerated the trend toward e-commerce and increased spending on items for the home, retail stocks with strong fundamentals may warrant a look.
November 2020 by John Bajkowski
As the coronavirus pandemic has accelerated the trend toward e-commerce and increased spending on items for the home, retail stocks with strong fundamentals may warrant a look.
Consider Earnings Estimate Surprises and Revisions
March 2020 by John Bajkowski
Opportunity for an investor arises when reported earnings veer from expectations, or analysts revise their estimates. AAII provides the screens and data you need to identify stocks with earnings surprises or revisions.
March 2020 by John Bajkowski
Opportunity for an investor arises when reported earnings veer from expectations, or analysts revise their estimates. AAII provides the screens and data you need to identify stocks with earnings surprises or revisions.
Stocks With High Levels of Retained Earnings to Market Cap
March 2020 by Charles Rotblut
Looking at the ratio of retained earnings to book value to screen for undervalued stocks.
March 2020 by Charles Rotblut
Looking at the ratio of retained earnings to book value to screen for undervalued stocks.
Retained Earnings Is More Predictive Than Book Value
January 2020 by AAII Staff
Researchers argue the book-to-market ratio should be replaced by a related ratio, retained earnings-to-market. The book-to-market (B/M) ratio, the inverse of the price-to-book (P/B) ratio, has long been used by value investors to assess the valuation of a company.
January 2020 by AAII Staff
Researchers argue the book-to-market ratio should be replaced by a related ratio, retained earnings-to-market. The book-to-market (B/M) ratio, the inverse of the price-to-book (P/B) ratio, has long been used by value investors to assess the valuation of a company.
Earnings Surprise Studies Show Historical Outperformance
July 2019 by AAII Staff
A survey of research on the anomaly called post-earnings announcement drift (PEAD) shows that strategies based on earnings surprises have provided abnormally high returns.
July 2019 by AAII Staff
A survey of research on the anomaly called post-earnings announcement drift (PEAD) shows that strategies based on earnings surprises have provided abnormally high returns.
Using Accruals to Judge How Persistent Earnings Will Be
June 2017 by Charles Rotblut
Accruals can be described as forecasts of future economic benefits; if they are too optimistic, future earnings will be reduced.
June 2017 by Charles Rotblut
Accruals can be described as forecasts of future economic benefits; if they are too optimistic, future earnings will be reduced.
Downward Estimate Revisions Screen Tops Unconventional Year
January 2017 by Wayne A. Thorp
Bucking its historical trend during a year marked by unusual events, Estimates Revisions Lowest 30 Down was the top-performing AAII screen of 2016.
January 2017 by Wayne A. Thorp
Bucking its historical trend during a year marked by unusual events, Estimates Revisions Lowest 30 Down was the top-performing AAII screen of 2016.
Lottery Stocks’ Unique Returns Around Earnings Announcements
January 2017 by
Stocks with high expected returns, called lottery stocks, tend to outperform in the days ahead of an earnings announcement and underperform in the days following the announcement.
January 2017 by
Stocks with high expected returns, called lottery stocks, tend to outperform in the days ahead of an earnings announcement and underperform in the days following the announcement.
Stocks With the Largest Percentage Change in Earnings Estimates
January 2017 by John Bajkowski
The 15 stocks with the largest positive (and negative) percentage changes to their consensus earnings estimates for the current fiscal year.
January 2017 by John Bajkowski
The 15 stocks with the largest positive (and negative) percentage changes to their consensus earnings estimates for the current fiscal year.
Earnings Estimates
May 2015 by Charles Rotblut
Earnings surprises and earnings estimates revisions can drive stock price momentum.
May 2015 by Charles Rotblut
Earnings surprises and earnings estimates revisions can drive stock price momentum.
Tracking the Analysts
May 2012 by Wayne A. Thorp, John Bajkowski
Tracking earnings expectations, and their changes, is an important and a potentially rewarding strategy for stock investors.
May 2012 by Wayne A. Thorp, John Bajkowski
Tracking earnings expectations, and their changes, is an important and a potentially rewarding strategy for stock investors.
Market Expectations vs. Results: Tracking Analyst Earnings Revisions
April 2009 by Wayne A. Thorp
Changes in earnings expectations, no matter how slight, can have a significant impact on a stock's price. Tracking these expectations and their changes is an important component of stock analysis, and tracking significant revisions can be turned into a rewarding investment strategy. Developing a screen for analyst revisions.
April 2009 by Wayne A. Thorp
Changes in earnings expectations, no matter how slight, can have a significant impact on a stock's price. Tracking these expectations and their changes is an important component of stock analysis, and tracking significant revisions can be turned into a rewarding investment strategy. Developing a screen for analyst revisions.
Great Expectations: Earnings Estimates and Their Impact on Stock Prices
April 2008 by AAII Staff
How often have you seen a stock's price fall after the company announced increased earnings, or rise after it announced that earnings fell? Expectations play a key role in determining a stock's price. A look at how earnings estimates can impact price.
April 2008 by AAII Staff
How often have you seen a stock's price fall after the company announced increased earnings, or rise after it announced that earnings fell? Expectations play a key role in determining a stock's price. A look at how earnings estimates can impact price.
Listening to the Analysts
March 2000 by John Bajkowski
How to track and use consensus earnings estimates to screen for promising stocks.
March 2000 by John Bajkowski
How to track and use consensus earnings estimates to screen for promising stocks.