what to do when Q1 + Q2 + Q3 revenue already greater than FY revenue
Hi,
So I'm going through and getting revenue numbers from companies listed on the [sec of XX country]. For me to input Q1, Q2, Q3, Q4 and FY revenue, I extract data from the corresponding Q1, Q2, Q3 and 10K and then back into the Q4 value.
Q4 = FY - cumulative 3 quarters
However, I have found that maybe 1 in 10 companies that the FY revenue reported is already less than the sum of the first 3 quarters (nine months ended), and in some cases extremely far less ~ like zero.
Any ideas on how to proceed with this?
[edit for future self/others]
(i) there was a press release equivalent but it wasn't called PR that had a 90% chance of containing a table of quarterly results Q1, Q2, Q3, Q4 revenue that I could reference
(ii) would say it wasn't uncommon for revenue values to be restated which obviously caused a lot of confusion the first time I was doing it
(iii) the revenue values could be negative which I later read from a random PR that revealed it was due to a "recoding of adjustments from prior periods" (The quarterly results table contained negative revenue values on occassion)
You’re probably doing something wrong like pulling 6 months ended for Q2. I would also do FY = Q1+ Q2.. rather than making Q4 a plug. Then make sure they all add to reported FY. This way you’ll be able to spot any data entry error rather just letting the plug absorb your mistake.
None of the 10Ks have past 3 months ended data so the only way for my to get Q4 would be to back into it (act as the plug).
When I'm inputting Q2 3 months ended data, I always do a quick sum() with the Q1 3 months ended to make sure it equates to 6 months ended Q2 10Q. I do the same process with Q3 3 months ended, sum() with Q1 3 months ended and Q2 3 months ended to make sure it equals Q3 9 months ended in the Q3 10Q.
However, in some 10Ks the FY revenue reported is literally far less than that reported in the sum(Q1, Q2, Q3). I don't know how common this is, but it seems like something that demands my attention to md&a/footnotes?
Look at the 8-K for Q4 financials.
This chief. Go to the press release for the 4Q earnings i.e. 8-K
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