Do we need quarterly earnings reports?

Summary

Marketplace Morning Report – Episode Summary

Episode Title: Do we need quarterly earnings reports?
Date: March 18, 2026
Host: Sabri Benishour (in for David Brancaccio)
Podcast: Marketplace Morning Report

---

Overview

In this brisk, information-packed edition of the Marketplace Morning Report, the hosts explore whether quarterly earnings reports are still necessary for corporate transparency, discuss the potential effects of changing reporting requirements, share the latest WNBA labor developments, update listeners on the U.S. Postal Service’s financial woes, and offer practical tax-season advice with a focus on seniors. The main theme revolves around balancing transparency with efficiency in corporate reporting.

---

Key Discussion Points & Insights

1. WNBA Collective Bargaining Agreement

• Key Details:

  • The WNBA and its players’ union reached a preliminary verbal agreement for a new collective bargaining agreement, concluding months of negotiations.
  • Major points include tying players' salaries to league revenue (for the first time) and a potential for some players to earn up to $1 million.
  • Specific deal details are not yet public; ratification by players and WNBA board remains pending.
  • The season starts May 8, with college drafts and free-agent negotiations upcoming.

  Memorable Quote:

  “Players’ salaries will be tied to league revenue for the first time, and some players could earn a million dollars.” — Nancy Marshall Genzer (01:28)

---

2. Quarterly Earnings Reports: Necessary or Antiquated?

• Background:

  • The Securities and Exchange Commission (SEC) is considering reducing required earnings reports from quarterly (four times a year) to biannual (two times a year).
  • Reported by: Kristen Schwab

• Arguments for Reducing Frequency:

  • Corporate Burden:
    “The quarterly reporting is just getting to be a very expensive exercise and it would free up thousands of hours for their finance teams to do other things…” — John Blank, Chief Equity Strategist, Sachs Investment Research (02:40)
  • Long-Term Focus:
    Reducing updates could allow companies to focus more on long-term goals rather than short-term performance.
  • Quarterly Volatility (“Noise”):
    Frequent reports can make normal business cycles (such as weather-related fluctuations in housing) seem more significant than they are.

    “You get two, three months of bad weather and then suddenly it sounds like the housing market’s turning down, but it’s really not.” — John Blank (03:02)

• Arguments for Maintaining the Status Quo:

  • Investor Transparency:
    More frequent reporting makes it harder for companies to conceal problems.

    “To me, that’s more of a rationale to require it than to not require it.” — Jessica Wachter, former Chief Economist at the SEC (03:29)

  • Public Ownership:
    “Corporations are owned by the investors, institutional investors, and also individual ones.” — Jessica Wachter (03:42)
    Regular reporting fosters accountability and public trust.

• Summary:
  The discussion highlights a philosophical and practical divide: Are frequent, “noisy” updates a barrier to strategic thinking or a necessary measure to sustain transparency for shareholders?

---

3. US Postal Service Financial Crisis

• Update:
  • Postmaster General David Steiner told Congress that the Postal Service could run out of funds by fall 2026.
  • Amazon, its biggest customer, plans to cut back significantly on using USPS services, compounding the crisis.
• Contextual Significance:
  This segment frames the existential financial threats to a vital public institution and its shifting relevance in the age of private sector logistics.

---

4. 2026 Tax Filing Changes & Senior Deductions

Guest: Lori Evers, retired CPA and AARP Foundation tax-aid volunteer (05:54–08:56)

• 2026 Tax Law Changes:

  • Senior Deduction:

    • Up to $6,000 per person age 65+.

    • Begins phasing out at $75,000 income for individuals, $150,000 for married couples.

    • Many filers are unaware of the change and its impact.

      “So the senior deduction is up to $6,000 per every person 65 and over... it starts phasing out [at these income levels].” — Lori Evers (06:30)

  • Tax on Overtime & Tips:

    • No tax on tips or the extra portion of overtime.

    • Only the “time-and-a-half” part ($5/hour if base is $10) is tax exempt, not the entire overtime amount.

      “But it’s not the full $15 an hour that is excluded from taxes. It’s only that and a half… the $5 an hour is the part that is not going to be taxable.” — Lori Evers (06:57)

• Practical Advice for Seniors (and All Taxpayers):

  • File a Return to Prevent Identity Theft:

    • Filing ensures the IRS records that Social Security Number, preventing fraudulent electronic filings.

    • This is crucial for seniors and college students—the two most victimized groups of tax-related identity theft.

      “...even if their income is lower than the amount that they are required to file, we still recommend they file a return because that... prevents anybody else from electronically filing using that number.” — Lori Evers (07:55)

  • Electronic Filing Preferred:

    • Fast IRS confirmation means the process is complete and secure.

---

Notable Quotes & Timestamps

• On the Expense of Quarterly Reports:

  “The quarterly reporting is just getting to be a very expensive exercise...”
  — John Blank (02:40)

• On Corporate Transparency:

  “To me, that's more of a rationale to require it than to not require it.”
  — Jessica Wachter (03:29)

• On Filing for Identity Protection:

  “...we still recommend they file a return because that way... prevents anybody else from electronically filing using that number.”
  — Lori Evers (07:55)

---

Timestamps for Key Segments

• WNBA Labor Agreement: 01:01–02:10
• Quarterly Earnings Discussion: 02:10–03:50
• US Postal Service Crisis: 03:50–04:25
• Tax Filing Tips (with Lori Evers): 05:54–08:56

---

Takeaways

• The proposal to reduce earnings reporting frequency stirs debate about corporate responsibility versus operational efficiency.
• The WNBA inches toward a new era with revenue-tied salaries.
• Major institutions like the US Postal Service face existential fiscal threats.
• Seniors face a changed tax landscape in 2026, and all filers are urged to file (even if not required) to combat identity theft.

Overall Tone:
Informed, balanced, practical, focused on both fiscal policy and personal financial health.

Transcript

[Wealth Enhancement Sponsor]

This Marketplace podcast is brought to you by Wealth Enhancement. Who asks, how healthy is your financial plan? Does it need a second option? You'd get one before surgery. Isn't your financial health just as important? Get a wealth blueprint at no cost. We'll check the pulse on your plan, share what you might be missing and opportunities you could be taking advantage of, and determine whether your current advisor's a quack. Learn more at wealthenhancement.com build running a

[Odoo and Fundrise Sponsor]

business is hard enough, so why make it harder with a dozen different apps that don't talk to each other? Introducing Odoo, the only business software you'll ever need. It's an all in one, fully integrated platform that makes your work easier from CRM, accounting, inventory, E Commerce, and more. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. This is why over thousands of businesses have made the switch. So so why not you try Odoo for free at odoo.com that's O-O-O.com

[David Brancaccio]

the

[Sabri Benishour]

WNBA reaches a Deal how often does corporate America need to spill the beans and some tax advice from Marketplace, I'm Sabri Benishore, in for David Brancaccio. The WNBA and its players union have reached a preliminary deal. Less than two months before the women's basketball season is set to tip off, the two sides announced they'd come to a verbal agreement in the early hours of this morning. Marketplace's Nancy Marshall Genzer has that.

[Nancy Marshall Genzer]

It was after two in New York this morning when the WNBA and the players union announced the verbal agreement on a new collective bargaining agreement. The negotiations had dragged on for months as the WNBA and players sparred over pay and benefits like housing. Players salaries will be tied to league revenue for the first time, and some players could earn a million dollars. Neither side would talk about the details of the deal, which still has to be ratified by the players and the board of the WNB. The women's basketball season is set to start on May 8th. Before then, the WNBA will have to hold its college draft and negotiate with players who are free agents. I'm Nancy Marshall Genser for Marketplace.

[Sabri Benishour]

Corporate America is legally required to report on how it's doing, issue earnings reports every three months. So four times a year, the securities and Exchange Commission is thinking about cutting that down to just two times a year, according to the Wall Street Journal. There are pros and cons to this idea. Marketplace's Kristen Schwab takes a look.

[Kristen Schwab]

Most companies don't love having to report earnings four times a year and would prefer going down to two, says John Blank, chief equity strategist at Sachs Investment Research.

[John Blank]

The quarterly reporting is just getting to be a very expensive exercise and it would free up thousands of hours for their finance teams to do other things

[Kristen Schwab]

like focus on long term strategies. The quarterly churn can encourage companies to prioritize short term performance. Plus, Blake says the information coming out every three months can be noisy.

[John Blank]

House building would be a good example that, you know, you get two, three months of bad weather and then suddenly it sounds like the housing market's turning down, but it's really not. They're going to, you know, pick it up as soon as the weather's over.

[Kristen Schwab]

But this so called noise can still be important information for investors, and Jessica Wachter, a former chief economist at the sec, says however, clunky quarterly earnings make it harder for companies to hide details they don't want the public to see.

[Jessica Wachter]

To me, that's more of a rationale to require it than to not require it, she says.

[Kristen Schwab]

Transparency is important. Publicly traded companies are public by name

[Jessica Wachter]

because after all, the corporations are owned

[Kristen Schwab]

by the investors, institutional investors, and also individual ones. I'm Kristen Schwab for Marketplace.

[Sabri Benishour]

The U.S. postal Service is in crisis and could run out of money by this fall. That's what Postmaster General David Steiner told Congress yesterday. Meanwhile, according to the Postal Service's biggest customer, that would be Amazon wants to cut way back on its use of the Postal Service.

[Assured Guaranty Sponsor]

Are you looking to invest in municipal bonds? For extra protection, buy bonds insured by Assured guaranty. It guarantees 100% of your principal and interest will be paid when due. Assured Guaranty has demonstrated its reliability and financial strength for nearly four decades. That's why the bonds they back are one of the safest investments you can make. Visit assured guarantee.com assured guarantee a Stronger

[Odoo and Fundrise Sponsor]

Bond this Marketplace podcast is supported by Fundrise. Billion dollar investors don't typically park their cash in high yield savings accounts. Instead, they often use one of the premier strategies for institutional investors, private credit. Now the same passive income strategy is available to investors of all sizes thanks to the Fundrise Income Fund, which has more than $600 million invested and a 7.97% distribution rate. With traditional savings yields falling, it's no wonder Private credit has grown to be a trillion dollar. Learn [e-mail] marketplace. The fund's total return in 2025 was 8%, and the average annual total return since inception is 7.8%. Past performance does not guarantee future results. Current distribution rate as of 1231, 2025. Carefully consider the investment material before investing, including objectives, risks, charges and expenses. This and other information can be found in the Income Funds [e-mail] Income this is a paid advertisement

[Sabri Benishour]

to my brothers and sisters in procrastination. There is one month left to file your taxes and this year is a little different. The Republican tax and spending law passed last year has made some changes you might want to keep in mind, including a new deduction for older people. Lori Evers is a retired CPA and volunteer with AARP's tax aid program, which offers free tax prep and filing services with a focus on adults over 50. She's here to break it down. Lori, welcome.

[Lori Evers]

Hi. How are you doing?

[Sabri Benishour]

Good. So yeah, what is the senior deduction? How big is it? How do people get it?

[Lori Evers]

So the senior deduction is up to $6,000 per every person 65 and over. It does phase out. Once their income hits $75,000, it starts phasing out. And for a married couple, once their income hits $150,000, it's something that a lot of people were not really aware of and aware of the impact.

[Sabri Benishour]

Are there any parts of this that are tripping people up this year that you want to help clarify?

[Lori Evers]

Another part of the tax bill is no tax on tips or tax on overtime. And a lot of people are confused with the overtime. When we think of overtime, we generally think of time and a half. So just because the math is easier, somebody makes 10 bucks an hour, time and a half, they're making 15 bucks an hour. But it's not the full $15 an hour that is excluded from taxes. It's only that and a half. So the $5 an hour is the part that is not going to be taxable.

[Sabri Benishour]

I mean, do you see that a lot? Does that affect a lot of seniors?

[Lori Evers]

You know, we have a lot of seniors that are in their 70s that are still working. And yeah, the overtime and the tips still affect a lot of people. Even though our focus is on taxpayers 50 and over, because of AARP foundation, we will do returns for anybody. So we also do see taxpayers under 50 that we prepare returns for that have overtime and tips.

[Sabri Benishour]

What's one thing older filers should keep in mind before they submit their return this year?

[Lori Evers]

I think the most important thing when we're talking about our elderly is talking about identity theft. So one of the things we always recommend when a taxpayer comes in, even if their income is lower than the amount that they are required to file, we still recommend they file a return because that way their return has been filed with their Social Security number and that essentially prevents anybody else from electronically filing using that number. Identity theft in taxes is huge in the seniors, and it's also large with college students. That just happens to be the two areas that their Social Security numbers get hijacked the most often. So it's really important that they file and it's important that they file electronically because that way if I send a return electronically within 10 or 15 minutes, I have confirmation from the IRS that return has been accepted. So that means we're good to go for this year.

[Sabri Benishour]

Yeah. What a great tip. Laurie Evers is a retired CPA and a volunteer with the AARP Foundation's tax aid program. Thank you so much.

[Nancy Marshall Genzer]

Thanks.

[Sabri Benishour]

In New York, I'm Sabri Benishour with the Marketplace Morning Report. From 8:00pm American Public Media.

[David Brancaccio]

Hey, David Brancaccio here. I hope you're well and that your passport is up to date because I am hosting a trip to Italy this fall and you, you are invited stay at a world class Tuscan villa and step into the world of the Medici, the formidable family whose influence and power helped give rise to the renaissance and the art we still celebrate today and not to mention the banking system. We're going to visit the world's oldest bank, swim in the thermal spa waters in Montecatini and take in the art of the Uffizi. All of this, and then we'll try to put it all into context with great conversation over even better meals and wine tasting. Please join me and know this. Buying into this trip will provide essential support for public media. Discover more about this fall's tuscany [e-mail] travel. To reserve your spot today, that's marketplace.org travel.