Pro-Forma Forecast

See: Pro Forma. It means "together" or "combined." So a pro forma earnings forecast usually means a re-forecast.

That is, two companies were merged, or a big company bought a reasonably impactful-sized company. And now the earnings...change. So a pro forma forecast would be like saying, "After we fire 1/3 of the workers and get the bigger volume discounted pricing from our suppliers and exact better distribution terms from our shelf-stocking retailers, we'll then realize savings of $352 million in operating costs on revenues, which are expected to be 6 percent higher based on better volume and pricing...and all of that translates to our raising our EPS estimates from $1.35 next year to $1.45."

Crystal ball with a lot o' numbers in it.