Trump Pushes to End Quarterly Earnings Reports, Citing Costs and Long-Term Growth

What Happened

President Trump is calling on U.S. companies to stop reporting earnings every three months. He urged a shift to a six-month reporting cycle.

He announced the proposal on Truth Social, arguing that quarterly reports impose unnecessary costs. He said they force companies to prioritize short-term results over long-term strategy. Trump wrote that semi-annual reporting would “save money, and allow managers to focus on properly running their companies.”

The Securities and Exchange Commission is reportedly reviewing the idea as a policy priority following the president’s statement.

Quarterly earnings reports have been required since the 1970s. They serve as a backbone of U.S. financial transparency. Trump’s suggestion echoes a similar proposal made during his first term in 2018. That plan drew support from some executives but ultimately led to no change. This time, with renewed political momentum and leadership at the SEC more aligned with his administration, the proposal is being taken more seriously.

Why It Matters

This proposal revives a long-standing debate in corporate governance. Should public companies be required to report earnings every quarter, or would less frequent disclosures lead to better business decisions?

Supporters of the change argue that quarterly reporting creates excessive pressure on executives to meet short-term performance targets. They believe this can lead to decisions that boost short-term earnings at the expense of long-term growth, innovation, or stability. Cutting the reporting frequency in half could give leaders more space to manage for the future instead of the next headline or earnings call.

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There is also a financial case to be made. Preparing and auditing quarterly reports is time-consuming and costly, particularly for mid-sized companies. A six-month schedule could reduce compliance costs. Proponents argue that this would free up capital for investment and expansion.

However, critics warn that reducing transparency could expose investors to more risk. With fewer updates, shareholders would have less information to make timely decisions. This could increase volatility or open the door to financial surprises. It could also limit oversight and allow struggling companies to delay disclosing material problems.

Countries like the United Kingdom and Australia have already moved toward more flexible or semi-annual reporting schedules. Trump’s proposal would bring the U.S. in line with those markets. However, investor protections in the U.S. are stricter by design. Changing them would require regulatory overhaul and public input.

How It Affects You

For individual investors, fewer earnings reports mean less frequent updates on the companies they own. It would effectively make it harder to monitor performance, spot warning signs, or compare results across sectors. Large institutional investors have other tools to track company health, but retail investors often rely on quarterly filings for timely information.

For companies, the potential benefits include reduced compliance costs and less pressure to cater to analysts’ expectations. Businesses might be more willing to take risks or invest in longer-term projects without the constant spotlight of quarterly earnings.

From a market perspective, there is a trade-off. Lower reporting frequency could reduce noise and short-term volatility. However, it may also make it harder to price risk accurately in real time.

If implemented, this policy would fundamentally change how investors, analysts, and companies interact. Its impact will rest on the market’s ability to adjust, the clarity of regulatory enforcement, and the consequences it creates for access to timely and reliable financial information.