This paper provides granular evidence on how rising temperatures affect the processing of financial information in view of sell-side analyst earnings forecast accuracy. We find that exposure to extreme heat significantly reduces the forecast accuracy of local analysts. We propose two potential channels. First, an increased frequency of extreme heat hinders information acquisition by discouraging site visits, which are important for accurate forecasting. Second, extreme heat contributes to analysts' cognitive biases. We also explore possible mitigating factors, and find that analyst experience, brokerage firm resources, and information transparency can buffer the negative effects of extreme heat. Our study offers important insights into how climate change may indirectly distort information flows in financial markets by altering analysts' behavior, and calls for more effective mitigation and adaptation strategies to cope with the adverse effects of global warming on highly skilled professionals.