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It is increasingly important for firms to meet or exceed analysts' consensus earnings forecasts. Often management will give guidance or hints of the earnings per share prospects over the next quarter or next year to try to direct the consensus to what is achievable. For example, it is possible that the consensus is well above management's internal forecasts. Management will try to guide the consensus downwards so that when the earnings are released the negative surprise is minimized. Under Regulation FD, management needs to be very careful to provide guidance information to all shareholders -- not just a select group of analysts. This is often achieved in investor presentations (that are often webcast) or conference calls (where anyone is allowed to dial in).


An announcement, often over a conference call, by a publicly-traded company of its projected earnings for a quarter or year. Guidance gives investors and analysts a basis from which to make their investment decisions and recommendations. Guidance also helps the company price out any potential good or bad news so its share price is not subject to wild fluctuations when the earnings are actually announced. Guidance is also called earnings guidance.


Guidance, or earnings guidance, occurs when the executives of a publicly traded corporation estimate projected earnings in an open conference call or Web cast before its quarterly earnings are released.

Goals for providing guidance include underplaying expectations to avoid negative surprises, serving as a counterpoint to stock analysts' consensus estimates, reducing stock price volatility when actual results are announced, and potentially shifting investor focus from short-term results to long-term perspectives.

Corporations also provide guidance to the investing community as a whole because they are prohibited by Securities and Exchange Commission (SEC) Rule FD (for Fair Disclosure) from providing important and previously nonpublic information selectively, as they did before the rule was enacted in 2000.

Those who advocate providing this type of guidance argue that the more information investors have the better. Detractors say guidance doesn't reduce volatility or achieve other goals.

References in periodicals archive ?
Many exchanges are constrained by vacant posts, with existing staff limited by inadequate skills in the different components of employment services such as career and vocational guidance, employer liaison and client management.
NCDA's founders worked for a more socially just society in a variety of ways, including vocational guidance (Davis, 1969; Hartung & Blustein, 2002; Pope & Sveinsdottir, 2005; Savickas, 2009b; Zytowski, 2001).
As a result of this study, we have observed that more Doctoral Thesis have been submitted in the area of academic guidance than in the area of vocational guidance, being the main themes studied those relating to curriculum development and professional skills respectively.
The historical origins of vocational guidance were based on such individual welfare principles.
In Israel, the responsibility for vocational guidance and training rests with the Employment Service of the Ministry of Industry, Trade and Labor, as mandated in the Employment Service Law of 1959.
In relationship to decision making, Parson's (1909) envisioned vocational guidance as being a socially active, politically responsible tool, that would help all people to make satisfying vocational choices using "true reasoning" to match knowledge of self with knowledge of the world of work.
Encyclopedia of Career and Vocational Guidance (1997, 2,626 pages in four volumes) from Ferguson Publishing Company includes information on more than 1,500 occupations.
Vocational Guidance Services (VGS) of Cleveland, Ohio, has nearly 3,500 new consumers referred to their agency each year.
One of the most innovative aspects of Roberts' book is that she grounds her analysis of the cultural image in an analysis of vocational guidance publications and reformist proposals for women's education.
The 'vital role' of vocational guidance in smoothing the transition from school to work has been repeatedly acknowledged in official policy documents in the UK,(1) yet there have been few attempts to compare the guidance offered in British secondary schools with the vocational preparation carried out in other countries.
An active civic and community leader, Inajo serves and has served on the boards of several nonprofit organizations including her current involvement on the boards of the Cleveland Leadership Center, Ohio Board of Voting Machine Examiners, Cuyahoga County Board of Elections, Vocational Guidance Services of Cleveland and Medical Mutual of Ohio Charitable Foundation.
Muscat, Oct 11 (ONA) A seminarorganized by the Ministry of Manpower under the theme " Planning for the Vocational Guidance Policy and Labor Market Information' startedat the College of Tourism today under the auspices of Dr.

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