The U.S. Securities and Exchange Commission on May 5, 2026, issued a proposal that would give public companies the option to report their earnings and financials only twice per year instead of quarterly. The proposed amendments would alter rules in place since the 1970s that require companies to report after each quarter and annually.

"Public companies have an obligation under the federal securities laws to provide information that is material to investors. Yet, the rigidity of the SEC's rules has prevented companies and their investors from determining for themselves the interim reporting frequency that best serves their business needs and investors. Today's proposed amendments, if ultimately adopted, would provide companies with increased regulatory flexibility in this regard." SEC Chairman Paul Atkins said.

Atkins vowed to fast-track the proposal. A similar idea was most recently proposed in 2018 and did not advance. Some public companies in Europe follow a semiannual reporting schedule.

SEC rules do not require companies to hold earnings calls or issue earnings forecasts, though most companies do both to provide investors and the public with information.

Ken Griffin, the billionaire investor and Citadel founder, opposed the change. "I don't understand the merits of holding back from the market readily knowable information." he said. Griffin also addressed accountability. "Corporate executives should be held accountable for providing fair and reasonable disclosure on a periodic basis so people can value their businesses and hold leadership accountable. And I think, in this day and age, I think quarterly reporting is fair." he said.

Goldman Sachs CEO David Solomon weighed the proposal from a corporate perspective. "As a CEO, I'd obviously rather do two earnings calls a year than four earnings calls a year." he said. Solomon added that he had not reached a final position on the change. "I'm still thinking it through and the firm's still thinking it through." he said.