Earnings season is the recurring stretch each quarter when most publicly traded companies report results. There are four per year, and each one kicks off when the big US banks report — usually two to three weeks after the quarter ends — then peaks over the following couple of weeks as the mega-cap technology and consumer names follow.
The four earnings-season windows
Reporting clusters into four predictable windows. Exact dates shift each year, but the typical ranges are:
| Reports for | Typical window | What kicks it off |
|---|---|---|
| Q4 & full year | Mid-January → late February | Big banks, then large-cap tech |
| Q1 | Mid-April → mid-May | Big banks, then large-cap tech |
| Q2 | Mid-July → mid-August | Big banks, then large-cap tech |
| Q3 | Mid-October → mid-November | Big banks, then large-cap tech |
How long does earnings season last?
From the first major reports to the tail end, a season runs roughly six weeks. But the part that matters most for markets is the two-to-three-week peak when the largest, most-watched companies report within days of each other. Smaller companies keep reporting after the mega-caps are done, so the calendar thins out gradually rather than stopping all at once.
Why options volatility spikes during earnings season
Each earnings report is a scheduled unknown. In the days before the date, implied volatility climbs — the IV rush — because the market is pricing in a potentially large move. The moment results are out, that uncertainty is resolved and implied volatility collapses, the IV crush. During earnings season dozens of names go through this rush-then-crush cycle at once, which is why options activity and implied moves cluster in these weeks.
How to track earnings season
Knowing the season is one thing; knowing which names report on a given day, and how big a move the market is pricing, is what matters week to week. A couple of ways to stay on top of it:
- Check the Earnings This Week page for a weekly preview of the most liquid names and their expected moves.
- Use the EarningsWatcher Calendar for the full schedule, with the implied move and volatility metrics attached to each report.
Frequently asked questions
When is earnings season?
Earnings season happens four times a year, roughly two to six weeks after each fiscal quarter ends. The main US windows are mid-January to late February, mid-April to mid-May, mid-July to mid-August, and mid-October to mid-November. Each season kicks off when the big banks report and peaks over the following two to three weeks.
How long does earnings season last?
Each earnings season lasts about six weeks from the first major reports to the tail end, but the busiest stretch is a roughly two-to-three-week peak when the largest companies report. Smaller companies continue reporting after the mega-caps are done.
Why does options volatility rise during earnings season?
Each earnings report is a scheduled unknown, so implied volatility builds into the date (the IV rush) and then collapses once results are out (the IV crush). During earnings season many names go through this cycle at once, which is why options activity and implied moves cluster in these weeks.
When does earnings season start in 2026?
In 2026 the Q2 reporting season typically begins in mid-July when the major banks report and runs through mid-August. The Q3 season typically runs mid-October to mid-November. Exact dates vary by company, so confirm each name on a live earnings calendar.
This article is educational and does not constitute financial advice. Reporting windows are typical ranges and vary year to year; always confirm specific dates on a live calendar.