Only 6 out of 174 Large Companies Reported Fourth Quarter Earnings with Full Audit

By:
Chris Gaetano
Published Date:
Feb 7, 2019
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Out of the 174 public companies with market caps over $10 billion, only six reported their fourth quarter earnings with a full audit, according to MarketWatch. These companies were Altria, United Rentals Inc., Amazon, Sirius XM Holdings, Charter Communications and Northrop Grumman Corp. The rest failed to file their 10-Ks at the same time as a completed audit report. While they are still within the bounds of the law, as the Securities and Exchange Commission gives many large companies 60 days from the end of the fiscal year to file 10-Ks, MarketWatch said that delayed 10-K filings can make investors nervous, as they are unsure the degree to which they can trust the information without such a report. The practice has increased over the years. Before 2004, according to MarketWatch, 75 percent of annual earnings were released on or after the audit report, but since then the lag has gotten longer, averaging 46 to 50 days from 2000 to 2003, then growing to 62 to 65 from 2004 to 2005. 

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