Trump says US companies should not have to report quarterly

WASHINGTON - US President Donald Trump on Monday called for publicly listed US companies to no longer be required to report their earnings quarterly, shifting instead to a half-yearly model in line with the European Union.

"Subject to SEC Approval, Companies and Corporations should no longer be forced to 'Report' on a quarterly basis (Quarterly Reporting!), but rather to Report on a 'Six (6) Month Basis,'" he posted on his Truth Social platform on Monday.

Trump said the move would "allow managers to focus on properly running their companies."

The US Securities and Exchange Commission (SEC) has required quarterly reporting since 1970, but the debate over whether to move to a six-monthly system is not new.

Such a move would bring the United States in line with the European Union and United Kingdom. Many large EU companies continue to report quarterly, however.

Trump also proposed the move in his first term.

Proponents of half-yearly reporting say the time frame allows managers to focus on long-term growth rather than hitting short-term performance argets.

"At President Trump's request, Chairman (Paul) Atkins and the SEC is prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies," an SEC spokesperson told AFP.

Moving to semiannual reporting would allow firms to dedicate fewer resources to the process, said Sam Stovall of CFRA Research.

"Certainly it could help companies save money," Stovall told AFP.

He cautioned, however, that it "would probably increase volatility because you would have less guidance (and) resetting of expectations."