Earnings Preview Single

Single-Company Earnings Preview

Generate a concise, professional equity research earnings preview for a single company. The output is a self-contained HTML file targeting 4-5 printed pages. The report is dense with figures and data, with tight narrative that gets straight to the point.

Data Sources (ZERO EXCEPTIONS): The ONLY permitted data sources are Kensho Grounding MCP (search) and S&P Global MCP (kfinance). Absolutely NO other tools, data sources, or web access of any kind. Specifically:

• Do NOT use WebSearch, WebFetch, web_search, brave_search, google_search, or ANY generic web/internet search tool — even if Kensho is slow, returns no results, or is temporarily unavailable.
• Do NOT use any browser, URL fetch, or web scraping tool.
• If Kensho Grounding returns no results for a query, try rephrasing the query or note "data not available" in the report. NEVER fall back to web search as an alternative.
• Every piece of information in the report must be traceable to either a kfinance MCP function call or a Kensho search call. If it cannot be sourced to one of these two, it must not appear in the report.

Critical Rule: You MUST complete ALL research and data collection (Phases 1-5) BEFORE writing any part of the report.

Intermediate File Rule: All raw data from MCP tool calls MUST be written to files in /tmp/earnings-preview/ immediately after each tool call returns — before moving to the next call. This protects data from context window compression. Do NOT hold data only in memory. At the start of Phase 1, run mkdir -p /tmp/earnings-preview to create the directory. Before generating the HTML report (Phase 7), you MUST read ALL intermediate files back into context using cat commands. The files — not your memory of earlier conversation — are the single source of truth for every number, quote, and source URL in the report. If you skip reading the files, the report WILL contain errors.

Fiscal Quarter Rule: NEVER infer the fiscal quarter from the calendar report date. Many companies have non-standard fiscal years (e.g., Walmart's FY ends Jan 31, so a Feb 2026 report covers Q4 FY2026, not Q4 2025 or Q1 2026). Always use the fiscal quarter and fiscal year exactly as stated in the earnings call name returned by get_next_earnings_from_identifiers or get_earnings_from_identifiers (e.g., "Walmart Q4 FY2026 Earnings Call" means the quarter is Q4 FY2026). Use that verbatim in the report title, headers, tables, and all references. If the call name is ambiguous, cross-reference with get_financial_line_item_from_identifiers period labels.

Length Rule: The report must be concise. Target 4-5 pages when printed. Do NOT write long multi-paragraph narratives. Use tight, punchy bullet points. Every sentence must earn its place. If you can say it in fewer words, do so.

Verbatim Quote Rule: When quoting management in <blockquote> tags, the text MUST be copied exactly from the transcript — word for word, including filler words and sentence fragments. Do NOT paraphrase, rearrange, combine sentences from different parts of the transcript, or "clean up" quotes. If you cannot find the exact phrase in the transcript, do NOT present it as a direct quote. Instead, paraphrase in your own narrative voice without blockquote formatting (e.g., "Management noted that data center demand remains significant"). Every blockquote must be a verbatim, copy-paste excerpt that can be verified against the transcript.

Calculation Integrity Rule: For any multi-step calculation (implied quarterly figures from annual guidance, LTM P/E, y/y growth rates, segment y/y changes), write out each step explicitly and verify intermediate results before using them in the next step. If you state A + B + C = X, verify X is arithmetically correct before using X in a subsequent formula. If the appendix shows a sum that does not equal its stated components, the report is wrong. When in doubt, recompute from raw data rather than reusing a previously calculated intermediate.

Ratio Nomenclature Rule: All valuation ratios must be explicitly labeled as LTM (Last Twelve Months) or NTM (Next Twelve Months). Never use "trailing" or "forward" — always use LTM or NTM. LTM ratios use the sum of the most recent 4 reported quarters. NTM ratios use the sum of the next 4 quarterly consensus mean EPS estimates from get_consensus_estimates_from_identifiers — NOT a single annual figure. Both LTM and NTM P/E must be computed and displayed in the competitor comparison table.

Hyperlink Rule (STRICTLY ENFORCED): Every claim in the report — numeric AND non-numeric — MUST be wrapped in an <a href="#ref-N" class="data-ref"> hyperlink pointing to the corresponding entry in the Appendix. This is not optional. Every single number in the report must be a clickable link. This includes: revenue figures, EPS, margins, growth rates, market caps, P/E ratios, stock returns, price targets, segment revenue, and any other financial metric. It also includes qualitative claims from transcripts or Kensho searches. If you state it as fact, it must link to a source. Assign each unique claim a sequential reference ID (ref-1, ref-2, etc.). The hyperlink style is subtle — navy color, no underline, dotted underline on hover. Do NOT write any number in the report body without wrapping it in an <a> tag. Example: write <a href="#ref-1" class="data-ref">$152.3B</a>, NEVER write $152.3B as plain text.

Phase 1: Company Profile & Setup

1. Parse the single company ticker from $ARGUMENTS (strip whitespace).
2. Run mkdir -p /tmp/earnings-preview to create the working directory.
3. Call get_latest() to establish current reporting period context.
4. Call get_info_from_identifiers — record market cap, industry.
5. Call get_company_summary_from_identifiers — record business description.
6. Call get_next_earnings_from_identifiers — record upcoming earnings date and fiscal quarter name.

Immediately write /tmp/earnings-preview/company-info.txt:

TICKER: [ticker]
COMPANY: [full name]
INDUSTRY: [industry]
MARKET_CAP: [value] (as of [date])
NEXT_EARNINGS_DATE: [date]
NEXT_EARNINGS_QUARTER: [Q# FY#### exactly as returned by API]
BUSINESS_DESCRIPTION: [2-3 sentence summary]

Phase 2: Earnings Transcript Analysis (MANDATORY — COMPLETE BEFORE WRITING)

1. Call get_latest_earnings_from_identifiers to get the most recent completed earnings call key_dev_id.
2. Call get_transcript_from_key_dev_id for that transcript.
3. Immediately write /tmp/earnings-preview/transcript-extracts.txt with the following sections. Write this file WHILE you still have the transcript in context — do not wait:

TRANSCRIPT_SOURCE: [Call Name, e.g., "Q3 2025 Earnings Call"]
KEY_DEV_ID: [key_dev_id]
CALL_DATE: [date]
FISCAL_QUARTER: [Q# FY####]

=== VERBATIM QUOTES (copy-paste exactly — do NOT paraphrase) ===
QUOTE_1: "[exact text from transcript]"
SPEAKER_1: [Name], [Title]
CONTEXT_1: [1 sentence on where this appeared — prepared remarks or Q&A]

QUOTE_2: "[exact text from transcript]"
SPEAKER_2: [Name], [Title]
CONTEXT_2: [context]

QUOTE_3: "[exact text from transcript]"
SPEAKER_3: [Name], [Title]
CONTEXT_3: [context]

QUOTE_4: "[exact text from transcript]"
SPEAKER_4: [Name], [Title]
CONTEXT_4: [context]

=== GUIDANCE (quantitative only) ===
- [metric]: [range or point estimate as stated by management]
- [metric]: [range or point estimate]

=== KEY DRIVERS ===
- [driver 1 with supporting data point]
- [driver 2 with supporting data point]
- [driver 3 with supporting data point]

=== HEADWINDS & RISKS ===
- [risk 1 with quantification if available]
- [risk 2]

=== ANALYST Q&A THEMES ===
- [theme 1: what analysts pushed on]
- [theme 2]
- [theme 3]

=== SYNTHESIS: THEMES TO WATCH NEXT QUARTER ===
- [theme 1]
- [theme 2]
- [theme 3]

Phase 3: Competitor Analysis

1. Call get_competitors_from_identifiers with competitor_source="all".
2. Select top 5-7 most relevant public competitors.
3. For the company AND all selected competitors, gather:
   • get_prices_from_identifiers with periodicity="day", last 12 months
   • get_financial_line_item_from_identifiers for diluted_eps, period_type="quarterly", num_periods=8
   • get_capitalization_from_identifiers with capitalization="market_cap" (latest)
   • get_consensus_estimates_from_identifiers with period_type="quarterly", num_periods_forward=4 — this returns consensus mean EPS estimates for the next 4 quarters, which are summed to compute NTM EPS

After each tool call returns, immediately append the raw data to the appropriate intermediate file:

Write /tmp/earnings-preview/prices.csv — one row per (ticker, date, close). Include the source column with the exact MCP function call. Write the subject company's prices first, then each competitor's as you fetch them:

ticker,date,close,source
D,2025-02-19,55.67,get_prices_from_identifiers(identifier='D',periodicity='day')
D,2025-02-20,55.82,get_prices_from_identifiers(identifier='D',periodicity='day')
...
DUK,2025-02-19,111.79,get_prices_from_identifiers(identifier='DUK',periodicity='day')
...

Note: the source value is the same for all rows from a single call — write it on every row so it's always available.

Write /tmp/earnings-preview/peer-eps.csv — one row per (ticker, period, eps). Write immediately after each diluted_eps call:

ticker,period,diluted_eps,source
D,Q4 2024,1.09,get_financial_line_item_from_identifiers(identifier='D',line_item='diluted_eps',period_type='quarterly')
D,Q1 2025,-0.11,get_financial_line_item_from_identifiers(identifier='D',line_item='diluted_eps',period_type='quarterly')
...
DUK,Q4 2024,1.52,get_financial_line_item_from_identifiers(identifier='DUK',line_item='diluted_eps',period_type='quarterly')
...

Write /tmp/earnings-preview/peer-market-caps.csv — one row per ticker. Write immediately after each market_cap call:

ticker,market_cap,retrieval_date,source
D,55900000000,2026-02-19,get_capitalization_from_identifiers(identifier='D',capitalization='market_cap')
DUK,98300000000,2026-02-19,get_capitalization_from_identifiers(identifier='DUK',capitalization='market_cap')
...

Write /tmp/earnings-preview/consensus-eps.csv — one row per (ticker, period, consensus mean EPS). Write immediately after each get_consensus_estimates_from_identifiers call:

ticker,period,consensus_mean_eps,num_estimates,source
D,Q4 2025,0.88,12,get_consensus_estimates_from_identifiers(identifier='D',period_type='quarterly',num_periods_forward=4)
D,Q1 2026,0.72,10,get_consensus_estimates_from_identifiers(identifier='D',period_type='quarterly',num_periods_forward=4)
D,Q2 2026,0.91,9,get_consensus_estimates_from_identifiers(identifier='D',period_type='quarterly',num_periods_forward=4)
D,Q3 2026,1.05,8,get_consensus_estimates_from_identifiers(identifier='D',period_type='quarterly',num_periods_forward=4)
DUK,Q4 2025,1.48,14,get_consensus_estimates_from_identifiers(identifier='DUK',period_type='quarterly',num_periods_forward=4)
...

4. Do NOT calculate P/E or returns yet. The raw data is now on disk. Calculations happen in Phase 6 (Verification), reading from these files.

Date Consistency Rule (stock returns): When computing comparative stock returns (YTD %, 1-yr %, 30d %, 90d %), ALL tickers MUST use the exact same start and end dates. After writing all price data to prices.csv, identify the first trading date that appears in ALL tickers' data and use that as the common base date. Do NOT use different base dates for different tickers (e.g., the subject from Feb 19 and peers from Feb 28). If a ticker's data starts later than others, use the first overlapping date for ALL calculations. State the common base date in the appendix for every return calculation.

P/E Currency Rule (LTM P/E): When computing LTM P/E for each company, use that company's most recent 4 reported quarters from peer-eps.csv — not a fixed calendar window applied to all. If a peer has already reported Q4 2025 while the subject company has only reported through Q3 2025, the peer's LTM EPS should include Q4 2025. Check the latest reported period for each company and use the 4 most recent periods per company. Note in the appendix which 4 quarters were used for each P/E calculation.

Market Cap Date-Stamp: When reporting market cap, use the retrieval_date from peer-market-caps.csv. If it differs from the report date, note this in the appendix.

Phase 4: News, Estimates & Sector Intelligence (via Kensho Grounding)

Run these search queries for each category below. Do NOT skip any.

CRITICAL — Capture Source URLs: Every Kensho search result includes a source URL for the underlying article, report, or data page. You MUST record the URL alongside each finding.

After EACH search call, immediately append the results to /tmp/earnings-preview/kensho-findings.txt using the format below. Do NOT wait until all searches are done — write after each one:

=== SEARCH: "[query used]" ===
DATE_RUN: [today's date]
CATEGORY: [estimates|analyst_ratings|risks|news|sector]

FINDING_1: [key finding or excerpt]
URL_1: [source URL from search result]
SOURCE_1: [publication name, date if available]

FINDING_2: [key finding or excerpt]
URL_2: [source URL]
SOURCE_2: [publication name, date]

[...continue for all relevant results from this search...]

Earnings estimates & analyst sentiment:

1. search for "[TICKER] earnings estimates consensus EPS revenue upcoming quarter"
   • Record: consensus EPS, consensus revenue, estimate revision direction over last 90 days.
   • Append to kensho-findings.txt immediately.
2. search for "[TICKER] analyst ratings price target upgrades downgrades"
   • Record: recent upgrades/downgrades, price target range, bull/bear thesis summaries.
   • Append to kensho-findings.txt immediately.
3. search for "[TICKER] risks bear case concerns investors"
   • Record: key debates, bear arguments, swing factors for the upcoming print.
   • Append to kensho-findings.txt immediately.

Recent news (MANDATORY — do not skip): 4. search for "[TICKER] [company name] recent news developments"

• Record: material news from the last 60 days — M&A, product launches, executive changes, regulatory actions, partnerships, legal developments, tariffs, or any event that could affect the upcoming earnings print or forward guidance.
• For each item, note the date, headline, potential earnings impact.
• Append to kensho-findings.txt immediately.

Sector context: 5. search for "[company industry/sector] sector outlook trends"

• Record: sector-level tailwinds/headwinds, macro data, competitive dynamics.
• Append to kensho-findings.txt immediately.

Phase 5: Financial Data Collection

Quarterly financials (last 8 quarters): get_financial_line_item_from_identifiers with period_type="quarterly", num_periods=8 for: revenue, gross_profit, operating_income, ebitda, net_income, diluted_eps

After each line item call returns, immediately append to /tmp/earnings-preview/financials.csv. Write the raw values exactly as returned — do NOT round or convert yet. Include the source column with the exact MCP function call and parameters:

ticker,period,line_item,value,source
D,Q4 2024,revenue,3941000000,get_financial_line_item_from_identifiers(identifier='D',line_item='revenue',period_type='quarterly')
D,Q1 2025,revenue,3400000000,get_financial_line_item_from_identifiers(identifier='D',line_item='revenue',period_type='quarterly')
D,Q2 2025,revenue,4076000000,get_financial_line_item_from_identifiers(identifier='D',line_item='revenue',period_type='quarterly')
D,Q3 2025,revenue,3810000000,get_financial_line_item_from_identifiers(identifier='D',line_item='revenue',period_type='quarterly')
D,Q4 2024,diluted_eps,1.09,get_financial_line_item_from_identifiers(identifier='D',line_item='diluted_eps',period_type='quarterly')
D,Q1 2025,diluted_eps,-0.11,get_financial_line_item_from_identifiers(identifier='D',line_item='diluted_eps',period_type='quarterly')
...

Do NOT calculate margins or growth rates yet. Write raw data only. Calculations happen in Phase 6.

Segment data:

• get_segments_from_identifiers with segment_type="business", period_type="quarterly", num_periods=8
• You need 8 quarters (not 4) so you have the year-ago quarter for y/y comparisons. To calculate y/y for Q3 2025, you need Q3 2024 — which is the 5th quarter back. If the prior-year quarter's segment data is not available in the API response, do NOT estimate or fabricate it. State "y/y not available" in the report.

Immediately write /tmp/earnings-preview/segments.csv:

ticker,period,segment_name,revenue,source
D,Q3 2024,Dominion Energy Virginia,2762000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
D,Q3 2024,Dominion Energy South Carolina,848000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
D,Q3 2024,Contracted Energy,260000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
D,Q3 2025,Dominion Energy Virginia,3311000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
D,Q3 2025,Dominion Energy South Carolina,945000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
D,Q3 2025,Contracted Energy,297000000,get_segments_from_identifiers(identifier='D',segment_type='business',period_type='quarterly')
...

Earnings history (for stock chart annotations):

• get_earnings_from_identifiers — collect past earnings dates within the 12-month price window.
• Immediately write /tmp/earnings-preview/earnings-dates.csv:

ticker,earnings_date,call_name,source
D,2025-05-02,Q1 2025 Earnings Call,get_earnings_from_identifiers(identifier='D')
D,2025-08-01,Q2 2025 Earnings Call,get_earnings_from_identifiers(identifier='D')
D,2025-10-31,Q3 2025 Earnings Call,get_earnings_from_identifiers(identifier='D')
...

Phase 6: Verification & Calculations (MANDATORY — DO NOT SKIP)

Before generating the report, read back ALL intermediate files and perform calculations from the clean data. This phase ensures data integrity by working from files rather than compressed conversation context.

1. Read all intermediate files using bash cat commands:

   • cat /tmp/earnings-preview/company-info.txt
   • cat /tmp/earnings-preview/transcript-extracts.txt
   • cat /tmp/earnings-preview/financials.csv
   • cat /tmp/earnings-preview/segments.csv
   • cat /tmp/earnings-preview/prices.csv
   • cat /tmp/earnings-preview/peer-eps.csv
   • cat /tmp/earnings-preview/peer-market-caps.csv
   • cat /tmp/earnings-preview/consensus-eps.csv
   • cat /tmp/earnings-preview/kensho-findings.txt
   • cat /tmp/earnings-preview/earnings-dates.csv

2. Calculate derived metrics from the raw data now in context:

   • Gross margin % = gross_profit / revenue (per quarter)
   • Operating margin % = operating_income / revenue (per quarter)
   • Revenue y/y growth % = (current Q revenue - year-ago Q revenue) / year-ago Q revenue
   • EPS y/y growth % = same logic; use "n.m." if base is negative
   • Segment y/y growth % = match segment by name to year-ago Q; if missing, note "y/y not available"
   • LTM P/E per company = latest price / sum of most recent 4 quarterly EPS (check which 4 quarters are available per ticker using peer-eps.csv)
   • NTM P/E per company = latest price / NTM EPS, where NTM EPS = sum of the next 4 quarterly consensus mean EPS estimates from consensus-eps.csv. Add all 4 quarters' consensus_mean_eps values for each ticker. If fewer than 4 forward quarters are available for a peer, mark NTM P/E as "n/a". Note in the appendix which 4 quarters were summed.
   • Stock returns (YTD, 1-yr, 30d, 90d) = find the common first date across all tickers in prices.csv, then compute returns from that date

3. Cross-check:

   • Verify every segment y/y has the actual prior-year row in segments.csv. If not, mark "y/y not available."
   • Verify all stock return base dates are identical across tickers.
   • Verify any multi-step calculation by re-summing components (e.g., LTM EPS sum matches the 4 quarterly values).
   • Verify all verbatim quotes in transcript-extracts.txt are exact copy-pastes (not paraphrases).

4. Write /tmp/earnings-preview/calculations.csv with all derived values:

ticker,metric,value,formula,components
D,gross_margin_Q3_2025,32.5%,gross_profit/revenue,"gross_profit=1238100000,revenue=3810000000"
D,revenue_yoy_Q3_2025,+9.3%,(Q3_2025-Q3_2024)/Q3_2024,"Q3_2025=3810000000,Q3_2024=3486000000"
D,ltm_pe,24.2x,price/ltm_eps,"price=65.46,ltm_eps=2.70,quarters=Q4_2024+Q1_2025+Q2_2025+Q3_2025"
D,ntm_pe,18.5x,price/ntm_eps,"price=65.46,ntm_eps=3.56,quarters=Q4_2025(0.88)+Q1_2026(0.72)+Q2_2026(0.91)+Q3_2026(1.05),source=get_consensus_estimates_from_identifiers"
D,yoy_return,+17.6%,(end-start)/start,"end=65.46,start=55.67,base_date=2025-02-19"
DUK,yoy_return,+13.0%,(end-start)/start,"end=126.32,start=111.79,base_date=2025-02-19"
...

This file becomes the single source of truth for all numbers in the report.

Phase 7: Generate the HTML Report

STOP — BEFORE WRITING ANY HTML, YOU MUST READ ALL INTERMEDIATE FILES. THIS IS A BLOCKING PREREQUISITE.

This is not optional. You MUST run each cat command below as a separate bash tool call (not combined into one). This ensures each file's contents are individually loaded and visible in the conversation. Do NOT combine them into a single command. Do NOT skip any file.

Run these commands one at a time, each as its own bash call:

1. cat /tmp/earnings-preview/company-info.txt
2. cat /tmp/earnings-preview/transcript-extracts.txt
3. cat /tmp/earnings-preview/financials.csv
4. cat /tmp/earnings-preview/segments.csv
5. cat /tmp/earnings-preview/prices.csv
6. cat /tmp/earnings-preview/peer-eps.csv
7. cat /tmp/earnings-preview/peer-market-caps.csv
8. cat /tmp/earnings-preview/consensus-eps.csv
9. cat /tmp/earnings-preview/kensho-findings.txt
10. cat /tmp/earnings-preview/earnings-dates.csv
11. cat /tmp/earnings-preview/calculations.csv

After reading ALL files, you MUST print a summary message to the user that lists every file and its status. Use exactly this format:

--- DATA FILE VERIFICATION ---
1. company-info.txt        ✓ loaded ([N] lines)
2. transcript-extracts.txt ✓ loaded ([N] lines)
3. financials.csv          ✓ loaded ([N] rows)
4. segments.csv            ✓ loaded ([N] rows)
5. prices.csv              ✓ loaded ([N] rows)
6. peer-eps.csv            ✓ loaded ([N] rows)
7. peer-market-caps.csv    ✓ loaded ([N] rows)
8. consensus-eps.csv       ✓ loaded ([N] rows)
9. kensho-findings.txt     ✓ loaded ([N] lines)
10. earnings-dates.csv     ✓ loaded ([N] rows)
11. calculations.csv       ✓ loaded ([N] rows)

All intermediate data files loaded successfully.
Generating report using file data as the single source of truth.
---

If any file is missing or empty, STOP and tell the user which file failed. Do NOT proceed to generate the report with missing data.

Every number, quote, source URL, and MCP function call reference in the HTML report must come from these files — not from your memory of earlier conversation turns. The files are the single source of truth. Earlier conversation context may have been compressed or summarized and WILL contain errors if relied upon. If a data point is not in the files, it should not appear in the report.

See report-template.md for the complete HTML template, CSS, and Chart.js configuration.

MANDATORY — Use Template Helper Functions for Charts: The report-template.md provides pre-built, debugged Chart.js helper functions. You MUST use these exact functions to create charts. Do NOT write custom inline Chart.js code. The helpers are:

• createRevEpsChart(canvasId, labels, revenueData, epsData, revLabel) — for Figure 1
• createMarginChart(canvasId, labels, grossMargins, opMargins) — for Figure 2
• createRevGrowthChart(canvasId, labels, growthData) — for Figure 3
• createAnnotatedPriceChart(canvasId, labels, prices, earningsDates, ticker) — for Figure 5
• createCompPerfChart(canvasId, labels, datasets) — for Figure 6
• createPEChart(canvasId, companies) — for Figure 7

Each chart call MUST be in its own <script> tag wrapped in a try-catch block. This ensures a bug in one chart does not prevent other charts from rendering. Example:

<script>
try {
  createRevEpsChart('chart-rev-eps', [...], [...], [...], 'Revenue ($B)');
} catch(e) { console.error('Figure 1 error:', e); }
</script>
<script>
try {
  createMarginChart('chart-margins', [...], [...], [...]);
} catch(e) { console.error('Figure 2 error:', e); }
</script>