Overview
- What company guidance represents
- Difference between guidance vs. analyst estimates
- Why guidance matters for forward-looking analysis
- Data source: company management disclosures
What Company Guidance Represents
Company guidance represents forward-looking financial expectations issued directly by a company’s management. It typically includes projected ranges or estimates for key performance metrics such as earnings per share (EPS) and revenue for a specific fiscal period. Guidance reflects management’s internal forecasts, assumptions, and strategic outlook at the time it is issued.Unlike historical financial results, guidance is prospective and subject to change based on market conditions, business performance, and external factors.
Difference Between Guidance vs. Analyst Estimates
| Aspect | Company Guidance | Analyst Estimates |
|---|---|---|
| Source | Company management | Independent financial analysts |
| Basis | Internal forecasts and operational insight | External research models and assumptions |
| Perspective | Management’s expected performance | Market consensus expectations |
| Update Frequency | Issued periodically or when outlook changes | Updated continuously |
| Intent | Communicate outlook and set expectations | Evaluate and forecast company performance |
Why Guidance Matters for Forward-Looking Analysis
Guidance is a critical input for forward-looking analysis because it:- Anchors market expectations to management’s outlook
- Signals confidence or caution about future performance
- Provides context for interpreting earnings results
- Helps assess directional changes such as raised, lowered, or reaffirmed outlooks
Data Source: Company Management Disclosures
Guidance data is sourced directly from official company communications, including:- Earnings calls
- Earnings press releases
- Investor presentations
- Regulatory filings
All guidance reflects information explicitly disclosed by company management and is structured to preserve the original ranges, estimates, and timing provided at the time of announcement.
Guidance API – Developer Guide
Overview
The Guidance API provides structured company-issued forward-looking guidance, including EPS and revenue projections. Guidance reflects management’s expectations for a specific fiscal period and is critical for forward-looking analysis, comparison, and event-driven workflows.Guidance Metrics
EPS Guidance
Each guidance record may include:| Field | Description |
|---|---|
eps_guidance_min | Minimum EPS projection |
eps_guidance_max | Maximum EPS projection |
eps_guidance_est | Estimates midpoint EPS |
eps_type | Accounting basis (GAAP or Adjusted) |
Revenue Guidance
Each guidance record may include:| Field | Description |
|---|---|
revenue_guidance_min | Minimum revenue projection |
revenue_guidance_max | Maximum revenue projection |
revenue_guidance_est | Estimates midpoint revenue |
revenue_type | Accounting basis (GAAP or Adjusted) |
Prior vs Current Guidance
| Field | Description |
|---|---|
eps_guidance_prior_min | Prior minimum EPS projection |
eps_guidance_prior_max | Prior maximum EPS projection |
revenue_guidance_prior_min | Prior minimum revenue projection |
revenue_guidance_prior_max | Prior maximum revenue projection |
Timing and Period
| Field | Description |
|---|---|
period | Fiscal scope (e.g., Q1, FY) |
period_year | Fiscal year |
date and time | Announcement date and time |
updated | Last update timestamp (Unix UTC) |
prelim | Preliminary indicator |
Record Classification
Primary Guidance
| Field | Description |
|---|---|
is_primary | Y/N – Marks the default record when multiple guidance entries exist for the same company/date |
Adjusted guidance is prioritized over GAAP for primary selection.
Confirmation Status
| Field | Description |
|---|---|
confirmed | Y/N – Y indicates official company guidance; N indicates expected (unconfirmed) guidance |
Y) represents official company disclosure.
Unconfirmed guidance (N) is automatically created for upcoming earnings, updated daily, and may include:
- Expected announcement timing
- Predicted metrics
- Primary/secondary classification
Security Identification
Each record is associated with:| Field | Description |
|---|---|
ticker | Stock symbol |
name | Company name |
cusip | CUSIP identifier |
exchange | Exchange where the security trades |
Display & Interpretation Guidelines
- Use primary guidance (
is_primary = Y) for default views - Display full ranges when available; fallback to estimates when necessary
- Confirmed guidance represents official disclosure; unconfirmed guidance is indicative only
- Guidance should be interpreted alongside analyst estimates and historical performance
Error Handling
| Scenario | Behavior |
|---|---|
| No data returned | Empty guidance array |
| Missing min/max values | Estimate-only guidance |
| Multiple records without a primary flag | Resolve using is_primary |
Frequently Asked Questions
What is unconfirmed guidance?
What is unconfirmed guidance?
Expected guidance before official company disclosure. It is updated daily and may change.Expected Guidance Records deliver several key advantages:
- Automatically populate as soon as upcoming earnings dates are confirmed
- Identify the expected date and time of the guidance announcement
- Predict the type of guidance (EPS or revenue), including GAAP versus adjusted metrics
- Distinguish between primary and secondary guidance within a fiscal period
- Include continuously updated estimates, refreshed daily until the official guidance announcement
Which record should I use by default?
Which record should I use by default?
The record with
is_primary = Y.Why are there multiple guidance records for the same date?
Why are there multiple guidance records for the same date?
Companies may issue GAAP and adjusted guidance, or guidance for multiple metrics.
Can guidance be revised after confirmation?
Can guidance be revised after confirmation?
Yes, companies may update or withdraw guidance in later announcements.
Why might guidance be missing for some companies?
Why might guidance be missing for some companies?
Not all companies provide formal guidance.