Financial Reporting

Legal

Interface, ex-CFO Fined $5M for Inflating Earnings

The SEC says the carpet maker adjusted its accounting when its forecasts indicated it would likely fall far short of analysts' earnings estimates.

Matthew Heller
September 28, 2020
Regulation

Super Micro Fined $17M for Improper Accounting

Former CFO Howard Hideshima allegedly pressured employees to maximize revenue at the end of quarters, typically sending them dozens of emails.
Financial Performance

GE Beats Revenue Estimates, Reports Q2 Loss

Revenues were mainly driven by sales in the power and renewable energy divisions.
Financial Reporting

Hamilton Beach to Restate Two Years of Results

The home appliance firm said employees of its Mexican unit engaged in unauthorized transactions that resulted in recording of unrealizable assets.
Accounting

Buffett Rebuffed

The Berkshire chairman decried the FASB mandate on new reporting for unrealized gains and losses. His airline holdings proved him wrong.
Financial Reporting

SoftBank Posts Record $12.7B Operating Loss in 2019-20

The company’s tech fund reported a loss of $17.7 billion.
Regulation

Fluor Shares Dive on News of 10-Q Delay

The engineering firm is facing investigations into its accounting by the SEC and Department of Justice.
Financial Performance

AMC Reports Losses, Raises Doubt on Staying in Business

‘We are generating effectively no revenue,’ the world’s largest theater chain said.
Financial Performance

HSBC Sets Aside $3B for Virus Loan Losses

“We are anticipating deep, severe recession events in western Europe and the U.S. in the second quarter."
Financial Reporting

Virus Lays Bare Corporate Reporting Debate

In this moment, communication to investors in earnings calls should be more focused on future viability rather than historic profitability.
Financial Reporting

Starbucks Shares Fall as Q2 Earnings Halve Amid Pandemic

The coffee giant also withdrew its outlook for fiscal 2020.
Financial Reporting

McDonald’s Pulls Outlook as Sales Plummet

The company raised $6.5 billion in the quarter and has suspended share buybacks.
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