SEC plan to drop quarterly earnings draws record 280,000 comments

The SEC has proposed letting public companies report earnings every six months instead of quarterly, citing compliance costs and long-term planning. Over 280,000 comments have been filed, more than 99% opposed; a final decision is expected by late 2026.

• SEC proposal would replace quarterly reporting with semiannual, saving about $200,000 per firm annually
• More than 280,000 comments filed, over 99% opposed — a record for the agency
• SIFMA and Federated Hermes warn of higher cost of capital due to reduced transparency
• Eli Lilly and 58% of surveyed companies say they would switch to semiannual reporting