Read the full article on Traders' Insight.
Excerpt:
On Friday, April 7, First Republic Bank (FRC) announced they would report Q1 2023 earnings on April 24 after market close. This is 11 days later than expected, the first Monday report ever and the first after-the-bell report ever. This also pushes quarterly earnings results past FRC’s monthly options expiration date of April 21. If you follow any of our delayed earnings work here at Wall Street Horizon, you know this doesn’t bode well for the upcoming call.
Academic research shows when a corporation reports earnings later in the quarter than they have historically, it typically signals bad news to come on the conference call. The reverse is also true, an early earnings date suggests good news will be shared. The idea is that you’d prefer to delay bad news, but when you have good news you want to run out and share it.
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