Form 10-Q
Form 10-Q is the quarterly report that publicly traded companies must file with the SEC. It provides unaudited financial statements and updates on business operations for each of the first three quarters of the fiscal year.
The Trader's Take
The Signal
Form 10-Q filings provide timely updates on company performance and can reveal trends or issues that may not be apparent in annual reports. Unexpected changes in financial metrics can move stock prices.
The Noise
Routine quarterly filings may not contain newsworthy information unless they deviate significantly from expectations.
Actionable Insights
- 1Compare quarterly results to previous quarters and year-over-year to identify trends.
- 2Look for changes in revenue, margins, or cash flow that could signal business shifts.
- 3Review management discussion for updates on strategic initiatives.
- 4Watch for 10-Q filings that are filed late, which can signal accounting issues.
Regulatory Context & Context
| Timing / Deadline | Reporting Requirement |
|---|---|
| 40 Days | For large accelerated filers (after quarter end). |
| 45 Days | For accelerated and non-accelerated filers (after quarter end). |
Form 10-Q vs Form 10-K
Form 10-Q
Form 10-Q is the quarterly report that publicly traded companies must file with the SEC. It provides unaudited financial statements and updates on business operations for each of the first three quarters of the fiscal year.
Form 10-K
Form 10-K is the annual report that publicly traded companies must file with the SEC. It provides a comprehensive overview of the company's financial performance, business operations, risk factors, and management discussion.
Common Misconceptions
10-Q contains unaudited financial statements, unlike the audited 10-K.
Companies file 10-Q for Q1, Q2, and Q3, but not Q4 (which is covered by 10-K).
The 10-Q filing deadline is shorter than the 10-K deadline, providing more timely information.
Frequently Asked Questions
When is Form 10-Q due?
Form 10-Q must be filed within 40-45 days after the end of each quarter, depending on company size.
How many Form 10-Q filings does a company make per year?
Companies file Form 10-Q for the first three quarters (Q1, Q2, Q3). The fourth quarter is covered by the annual Form 10-K.