After spending hours researching the data available through the "MS123 Extra Fundamental" and other extensions related to fundamental data, plus searching through forums and the Wiki, I am unable to find the answer to what seems to me a core question around EPS data.

Fidelity "earnings per share" and similar items from other providers all seem to return a value that corresponds to the "company reported" EPS. However, it is my understanding that analysts use a different number referred to as "Adjusted Actual EPS". This can be very different from the company reported EPS and also different what from is known as the "Diluted EPS" (which takes into account dividends paid).

E.g. for the quarter ending Dec 2017, for MSFT, the "company reported" EPS was -0.82. This matches what is pulled down into WL using the fundamental item "earnings per share" from Fidelity. However, the Adjusted EPS is +0.96. Both these numbers are reported on the Fidelity website. Other websites either show both numbers, or show only the Adjusted EPS value under the label "Earnings Per Share" and use it to calculate the Earnings Surprise %.

There can be a huge difference between the two numbers (as per example above). The company reported number would be huge earnings miss for MSFT, however all websites report an 11.63% positive surprise for that quarter for MSFT. That's because it's the adjusted value that is being used.

Sorry for the lengthy explanation, but I must be clearly missing something simple because it seems the company reported EPS value is not being used in the metrics that are important to analysts - EPS surprise, EPS projected growth etc., yet all the fundamental providers seem to be only providing this "item" and not the adjusted value?

Would you please advise if this "Adjusted EPS" value as seen across all websites (regardless of specific labeling on each site) is available to us through any provider currently and perhaps I just missed it?

Thanks in advance! And no rush - I hope you'll are taking some time off this holiday!

This non-GAAP Adjusted EPS metric doesn't seem popular as even YCharts doesn't have it among the many 'Pro' items on their website?

I don't have access to YCharts to check, but the Adjusted EPS is the metric used and reportedly extensively. In fact sites like Nasdaq don't even show the other "Company reported" (aka GAAP?) EPS.

Reference: https://www.nasdaq.com/symbol/msft/earnings-surprise

Any EPS related metric that I have come across online whether it is Quarter over Quarter (or Year over Year) EPS Growth, or Projected EPS Growth, or EPS Surprise etc. they ALL seem to use the Adjusted value only. Therefore, any use of the Company reported EPS item as is available through the providers I have seen so far in WL would result in incorrect calculations that do not match actual Analyst metrics that are used in various screeners online.

The correct value of this metric is critical to backtesting my screens that use EPS as a criterion. Any advise on how to go about getting this metric in WL, as I'm stuck without it?

I have a different problem, but the bottom line is I'm missing the Adjusted Actual EPS from Wealth-Lab as well. Look at my screenshot. I would like to compare Consensus Est EPS (0.86) with the Adjusted Actual EPS (0.96). But WL fundamentals give me the Consensus Est EPS (0.86) and GAAP EPS (-0.82) instead, which are not comparable. How do I get an (1) estimate and (2) actual EPS out of WL that are comparable?

In summary, I just looking for a comparable pair for estimate and actual EPS out of WL. I'm not so concerned with whether the pair are GAAP adjusted or not. If you know of a formula for converting a non-adjusted to an adjusted GAAP (or vice versa), we should be good.

I have not come across such a thing as "GAAP Estimated EPS". The analysts only come up with the estimate which is compared against the adjusted value.

So it might be we have the same problem. :) Thanks for adding the image to illustrate the issue better.

Should you guys find some web-based data sources for your adjusted/actual EPS metrics that satisfy you please don't hesitate to share them on the forum. I'd evaluate the possibility of supporting them in a Wealth-Lab fundamental data provider.

That would be great Eugene. We would need a reliable source that has updated as well as historical data for most (US traded) stocks.

Nasdaq does show this (linking here again): https://www.nasdaq.com/symbol/msft/earnings-surprise
Is it possible to extend the existing Nasdaq provider to include this EPS metric?

Alternatively, Zacks might be an option?

https://www.zacks.com/stock/research/MSFT/earnings-announcements

While these pages show limited history, I'm hoping behind the scenes they have much more, going back a few years at least.

UPDATE: Zacks historical data seems to be a paid feed through Qandl, so not an option here.

Note that in the WLP Fundamental Data Guide, 'common shares used to calculate eps diluted' is available. I don't have WLP instance handy right now, but there's likely to be a ratio in the Strategy Wizard that calculates diluted eps using that item.

QUOTE:
UPDATE: Zacks historical data seems to be a paid feed through Qandl, so not an option here.

Why not? The metric required isn't on the list?
https://www.quandl.com/data/ZFA-Zacks-Fundamentals-A-70-Indicators/documentation/coverage

QUOTE:
Nasdaq does show this (linking here again): https://www.nasdaq.com/symbol/msft/earnings-surprise
Is it possible to extend the existing Nasdaq provider to include this EPS metric?

Thanks but there's only 4 latest items which doesn't look like enough bang for the buck. Just to clarify: it's that Earnings Per Share number you're looking for which is different from the other data providers e.g. Fidelity?

QUOTE:
Alternatively, Zacks might be an option?
https://www.zacks.com/stock/research/MSFT/earnings-announcements

That's a better option in that it shows an order of magnitude more data than featured by Nasdaq. Is it the "Reported" number that should be scraped?

UPDATE
Please try out Cone's suggestion before we consider any development, thank you.

QUOTE:
Note that in the WLP Fundamental Data Guide, 'common shares used to calculate eps diluted' is available. I don't have WLP instance handy right now, but there's likely to be a ratio in the Strategy Wizard that calculates diluted eps using that item.

Unfortunately, the Diluted EPS is yet another EPS metric that is different from the "Adjusted EPS" value. E.g. for the quarter shown as example, the Diluted EPS is also "-0.82", not "0.96" which is the value we are looking for.

QUOTE:
Why not? The metric required isn't on the list?
https://www.quandl.com/data/ZFA-Zacks-Fundamentals-A-70-Indicators/documentation/coverage

These seem to be the Company reported numbers (GAAP, to SEC), and the set does not contain the adjusted EPS that is seen on the Zacks site (link in post above)

The Adjusted EPS is used to compare against Analyst estimates. So it will be found on sites/feeds that reference "Estimated EPS" and "Earnings Surprise".

QUOTE:
Thanks but there's only 4 latest items which doesn't look like enough bang for the buck.

Agreed, not enough bang for the buck if web scraping is all we can get with that. Wasn't sure if there was a data feed behind there that we could tap into for more, as with the Dividend data in the existing Nasdaq provider.

QUOTE:
Just to clarify: it's that Earnings Per Share number you're looking for which is different from the other data providers e.g. Fidelity?

Correct, for that quarter ending Dec 2017 as an example, that number "0.96" is the Adjusted value which is different than what we are getting throught the WL Fidelity data (-0.82). Note that Fidelity does show both numbers on it's website and uses the Adjusted value to calculate the EPS Surprise, but does not provide that value in the feed to WL.

QUOTE:
the Diluted EPS is yet another EPS metric that is different from the "Adjusted EPS" value. E.g. for the quarter shown as example, the Diluted EPS is also "-0.82", not "0.96" which is the value we are looking for.

So is there a simple formula to covert the -0.82 number to the 0.96 number? That's would fix our problem. (Where's a corporate accountant when you need him?)

QUOTE:
Fidelity does show both numbers on it's website and uses the Adjusted value to calculate the EPS Surprise, but does not provide that value in the feed to WL.

Yes, you could scrap the Fidelity website. I would prefer the simple formula approach if it's an option, though.

QUOTE:
So is there a simple formula to covert the -0.82 number to the 0.96 number? That's would fix our problem. (Where's a corporate accountant when you need him?)

Sorry, no, that's not what I meant. The Diluted EPS is a different metric with it's own calculation (related to Dividends paid). There's no way to arrive from that to Adjusted EPS using a simple formula. Now, there may be a complicated formula, but that would probably involve even more data points (and that accountant you alluded to) and we'd be back to square one. :)

QUOTE:
Yes, you could scrap the Fidelity website. I would prefer the simple formula approach if it's an option, though.

The detailed Quarterly EPS data seems to be only available after login. However, the TTM EPS is available without login. But scraping this value wouldn't give us the history needed for backtesting.

WLP123,

Update the MS123 Fundamental/News extension to v2018.06 and restart WLP. I've added a new provider for obtaining the Zacks Adjusted Earnings data. Hope you find it useful:

* Zacks Adjusted Earnings provider

Eugene, my friend, you are the MAN! :)

Much appreciated... this will help greatly!