Pre-Earnings Preparation Checklist

## Pre-Earnings Preparation Checklist

**Stock**: {COMPANY} ({TICKER})
**Earnings Date**: ___ | **Report Time**: Before Market / After Market

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**PART 1 — CONSENSUS EXPECTATIONS**
| Metric                  | Consensus Estimate | Range (Low–High)  |
|---|---|---|
| Revenue                 | $___M              | $___M – $___M     |
| EPS (GAAP)              | $___               | $___ – $___       |
| EPS (Non-GAAP)          | $___               | $___ – $___       |
| Gross Margin            | ___%               | ___% – ___%       |
| Operating Income        | $___M              |                   |
| Key guidance metric:___ | ___                |                   |

**My own estimates** (vs. consensus):
- Revenue: $___M (___ vs consensus)
- EPS: $___ (___ vs consensus)
- Why I differ: ___

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**PART 2 — THE 3 KEY QUESTIONS**
Before the report, decide what actually matters:
1. ___ (e.g., margin trajectory — will gross margins expand?)
2. ___ (e.g., forward guidance — is management raising/lowering outlook?)
3. ___ (e.g., a specific segment or metric that drives the thesis)

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**PART 3 — REACTION SCENARIOS**
| Scenario          | Trigger Conditions           | My Action                  |
|---|---|---|
| Strong Beat       | Rev > consensus +3%, margins expand | Hold / Add ___% |
| In-Line           | Results within ±2% of consensus      | Hold            |
| Soft Beat         | Rev beat but guidance cut            | Hold / Trim ___% |
| Miss              | Rev < consensus –3%, EPS miss        | Trim ___% / Review thesis |
| Severe Miss       | Guidance cut >10%, thesis broken     | Exit position    |

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**PART 4 — KEY METRICS TO TRACK LIVE**
[ ] Revenue growth YoY: ___% (my threshold: ___%)  
[ ] Gross margin: ___% (my threshold: ___%)  
[ ] ___ (company-specific KPI): ___ (my threshold: ___)  
[ ] ___ (company-specific KPI): ___ (my threshold: ___)  
[ ] Forward guidance: raised / maintained / lowered  
[ ] Management tone on earnings call: Confident / Cautious / Defensive  

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**PART 5 — POST-EARNINGS DECISION RULES**
- If price drops >___% but thesis intact: Buy more
- If price rises >___% and thesis confirmed: Hold, trim at $___
- Read full transcript within ___ hours
- Update intrinsic value model within ___ days