The Journal of Financial Economics published Core Earnings: New Data & Evidence, which proves:
- Legacy fundamental datasets are seriously flawed.
- Only our “novel database” enables investors to overcome those flaws.
- Our proprietary measures of Core Earnings and Earnings Distortion provide idiosyncratic alpha.
Here's proof that superior data drives superior financial models and stock ratings.
Now, all investors, not just Wall Street insiders, can truthfully assess corporate earnings after excluding the unusual gains and losses that companies bury in footnotes, which legacy earnings measures, such as I/B/E/S Street Earnings or S&P Global’s (SPGI) Operating Earnings, miss.
For updates on how many firms are overstating and understating earnings every quarter, check out our Fundamental Market & Sector Trends reports. For example, as of 3Q21, 81% of S&P 500 companies were overstating EPS.
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This article originally published on January 12, 2021.
Disclosure: David Trainer, Kyle Guske II, and Matt Shuler receive no compensation to write about any specific stock, style, or theme.
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 The most recent Core Earnings and Street Earnings values are based on the latest audited financial data from calendar 3Q21 10-Qs.
 The earliest date that the 1Q21 10-Qs for all S&P 500 constituents were available.
As proven in Core Earnings: New Data & Evidence, a paper in The Journal of Financial Economics, only Core Earnings enable investors to overcome the flaws in legacy fundamental data and research.
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