Equity Research Earnings Update

Create professional EARNINGS UPDATE REPORTS analyzing quarterly results for companies already under coverage, following institutional standards (JPMorgan, Goldman Sachs, Morgan Stanley format).

Key Characteristics:

When to Use

Use when the user requests:

Do NOT use if:

Critical Requirements

1. Speed & Timeliness

2. Beat/Miss Analysis

3. Summary Format

4. Citations & Source Attribution ⭐⭐⭐ MANDATORY

CRITICAL: Properly cite all data with SPECIFIC sources and CLICKABLE HYPERLINKS.

Include specific citations WITH CLICKABLE LINKS in every figure and table:

Source: Q3 2024 10-Q filed November 8, 2024; Company earnings release
        [Hyperlink "10-Q" to: https://www.sec.gov/cgi-bin/viewer?accession=...]
        [Hyperlink "earnings release" to: https://investor.company.com/news/q3-2024]

HOW HYPERLINKS SHOULD APPEAR IN WORD:

REQUIRED SOURCES LIST:

Cite in every earnings update:

REFERENCE SECTION WITH CLICKABLE HYPERLINKS:

Include "Sources" section at end of report:

SOURCES & REFERENCES

Earnings Materials (Q3 2024):
• Earnings Release (November 7, 2024)
  [Hyperlink entire line to: https://investor.company.com/news/q3-2024-earnings]

• Form 10-Q (Filed November 8, 2024)
  [Hyperlink to: https://www.sec.gov/cgi-bin/viewer?accession=...]

• Earnings Call Transcript (November 7, 2024)
  [Hyperlink to: https://seekingalpha.com/article/...]

• Investor Presentation (November 7, 2024)
  [Hyperlink to: https://investor.company.com/presentations/q3-2024.pdf]

VERIFICATION CHECKLIST:

5. Updated Estimates

High-Level Workflow

The earnings update process follows 5 phases:

Phase 1: Data Collection (30-60 minutes)

🚨🚨🚨 CRITICAL: TRAINING DATA IS OUTDATED 🚨🚨🚨

BEFORE STARTING - COMPLETE THESE 4 STEPS IN ORDER:

  1. CHECK TODAY'S DATE - Write down the current date
  2. SEARCH FOR LATEST - Use web search: "[Company] latest earnings results"
  3. VERIFY THE DATE - Confirm earnings release is within last 3 months
  4. CHECK TRANSCRIPT DATE - Verify transcript date matches release date

COMMON MISTAKE: Using outdated earnings calls from training data instead of searching for the latest.

REQUIREMENTS:

See references/workflow.md for detailed search procedures and verification steps.

Phase 2: Analysis (2-3 hours)

See references/workflow.md for detailed analysis framework.

Phase 3: Chart Generation (1-2 hours)

Create 8-12 charts focusing on quarterly trends and what's new:

See references/workflow.md for chart specifications.

Phase 4: Report Creation (2-3 hours)

Create 8-12 page DOCX report with specific structure.

See references/report-structure.md for complete page-by-page templates and formatting requirements.

High-level structure:

Phase 5: Quality Check & Delivery (30 minutes)

Verify content, formatting, accuracy, and timeliness before delivery.

See references/best-practices.md for quality checklist and common mistakes to avoid.

Output Specification

Primary Deliverable: DOCX report (8-12 pages) File Name: [Company]_Q[Quarter]_[Year]_Earnings_Update.docx Example: Nike_Q2_FY24_Earnings_Update.docx

Contents:

Optional Deliverable: XLS model update (optional for earnings updates)

Key Differences from Initiation Report

Aspect Earnings Update Initiation Report
Length 8-12 pages 30-50 pages
Words 3,000-5,000 10,000-15,000
Tables 1-3 summary 12-20 comprehensive
Figures 8-12 25-35
Turnaround 1-2 days 3-6 weeks
Scope Quarterly results Complete company
Focus What's NEW Everything
Company Background Brief mention 6-10 pages
XLS Model Optional Required

Resources

references/workflow.md

Detailed Phase 1-5 instructions with step-by-step procedures for data collection, analysis, chart generation, and report creation.

references/report-structure.md

Complete page-by-page templates, table formats, and formatting requirements for the DOCX report.

references/best-practices.md

Examples of good/bad headlines, tips for success, common mistakes to avoid, and comprehensive quality checklist.

Dependencies

Required:

Optional: