- The act of amending and re-releasing a previously released earnings statement, with specified intent. Some of the most typical reasons for recasting earnings are to show the impact of a discontinued business or to separate out earnings-related events that are deemed to be non-recurring or otherwise non-representative of normal business earnings.
Also known as an "earnings restatement".
An earnings recast or restatement is usually done to several years of income statements, depending on how far back the recasting goes. This benefits investors by making the earnings statement more useful for research and analysis. Information regarding any earnings recast released by a publicly traded company should be stated in the footnotes for the earnings report.
Investment dictionary. Academic. 2012.
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