There is no universal standard for what Consensus is. The good news is that although there are about 1/2 dozen consensus sources, there are only 2 main players – Thomson Reuters I/B/E/S (fka First Call) and FactSet. And 85% of the time, they are equal to each other. However, from time to time there may be discrepancies. Use these tips to make sure you have consensus managed heading into your earnings release.