Another quarter, another expansion of Calcbench’s awesome financial data superpowers. This time around, we’re here to tout updates to our earnings press release tools.
The news is this: that Calcbench Professional users can now access all numbers in the text and tables of firms’ earnings releases, within minutes of said press releases hitting the wires. In a recent study we conducted of more than 13,000 press releases, our users had access to data within press releases in an average of five minutes.
Those enhancements enable financial analysts and money managers to make more informed decisions, using Calcbench’s model-ready data. As with all Calcbench data, earnings press release data is available to export from our website, or can be directly accessed through Excel, Google or the Calcbench API. (You can also see earnings releases on our Recent Filings page. It will look like Figure 1, below.)
One recent example is Iron Mountain ($IRM), an enterprise information management company. On May 6, prior to 7:00 a.m. ET, Iron Mountain released its earnings press release. By the time the market opened, Iron Mountain’s stock price gained $0.78. By the closing bell, Iron Mountain’s price increased another $2.14. Analysts who had systemic access to the press release data would have had their models primed to take advantage of those price moves.
“Information moves markets. Calcbench understands that the more efficiently analysts can populate their models, the faster they can act on the new information.” said co-founder and CEO of Calcbench. Pranav Ghai. “That’s why immediate access to data embedded in earnings press releases, such as GAAP, non-GAAP, key performance indicators and segments, is critical.”
We agree, and not just because Ghai is our boss. The point is valid no matter who says it — and because it’s valid, that’s why we’ve developed that access to the data for our users.
By the way, Calcbench continuously upgrades its functionality based on user feedback. We previously announced the ability to compare side-by-side comparisons of preliminary income statements against previously reported numbers, without the hassle of manually inputting the data.
What will we do next? Stick around and find out.