Quarter Calculator

A fiscal quarter is a three-month period used for financial reporting and planning. While many companies align with the calendar year, others (and governments) use fiscal years that begin in months other than January. The US federal government's fiscal year begins October 1.

Many US state governments use a fiscal year beginning July 1, which is common among states and municipalities. This means Q1 of the government fiscal year runs July through September of the calendar year.

The US federal government's fiscal year begins October 1 and ends September 30. It is designated by the year in which it ends. For example, FY2024 runs from October 1, 2023 to September 30, 2024.

Companies choose fiscal years that align with their business cycle. Retailers often end their fiscal year in January to capture post-holiday inventory results. Agricultural businesses may align with planting and harvest seasons. There is no legal requirement to follow the calendar year.

Quarters are always numbered Q1 through Q4 starting from the first month of the fiscal year. For the US federal FY beginning October 1, Q1 is October-December, Q2 is January-March, Q3 is April-June, and Q4 is July-September.

Quarters vary between 90 and 92 days depending on the months included and whether it is a leap year. Q1 (Jan-Mar) has 90 days in regular years and 91 in leap years. Q2 (Apr-Jun) always has 91 days. Q3 (Jul-Sep) always has 92 days. Q4 (Oct-Dec) always has 92 days.