Subtext

BlackRock, Inc. BLK

SectorFinancials
Transcripts57
Date range2011-04-21 – 2025-04-11
Calls charted57

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-26-13+0+13+262011 Q12013 Q12015 Q12017 Q12019 Q12021 Q12023 Q12025 Q12011 Q1 · Overall: +10.52011 Q2 · Overall: +6.72011 Q3 · Overall: +3.62011 Q4 · Overall: +8.22012 Q1 · Overall: +6.52012 Q2 · Overall: +6.92012 Q3 · Overall: +8.42012 Q4 · Overall: +13.52013 Q1 · Overall: +12.52013 Q2 · Overall: +6.42013 Q3 · Overall: +5.22013 Q4 · Overall: +7.02014 Q1 · Overall: +7.32014 Q2 · Overall: +7.52014 Q3 · Overall: +11.32014 Q4 · Overall: +6.32015 Q1 · Overall: +12.42015 Q2 · Overall: +6.62015 Q3 · Overall: +12.62015 Q4 · Overall: +6.92016 Q1 · Overall: +10.42016 Q2 · Overall: +4.42016 Q3 · Overall: +9.22016 Q4 · Overall: +4.32017 Q1 · Overall: +13.92017 Q2 · Overall: +15.22017 Q3 · Overall: +15.82017 Q4 · Overall: +11.22018 Q1 · Overall: +9.72018 Q2 · Overall: +15.22018 Q3 · Overall: +6.32018 Q4 · Overall: +8.72019 Q1 · Overall: +8.62019 Q2 · Overall: +11.42019 Q3 · Overall: +4.32019 Q4 · Overall: +11.52020 Q1 · Overall: +4.72020 Q2 · Overall: +8.82020 Q3 · Overall: +11.42020 Q4 · Overall: +13.82021 Q1 · Overall: +12.42021 Q2 · Overall: +14.32021 Q3 · Overall: +7.32021 Q4 · Overall: +14.22022 Q1 · Overall: +9.52022 Q2 · Overall: +7.62022 Q3 · Overall: +7.32022 Q4 · Overall: +10.72023 Q1 · Overall: +12.02023 Q2 · Overall: +21.72023 Q3 · Overall: +14.52023 Q4 · Overall: +17.52024 Q1 · Overall: +15.62024 Q2 · Overall: +16.72024 Q3 · Overall: +22.52024 Q4 · Overall: +20.32025 Q1 · Overall: +10.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-28-14+0+14+282011 Q12013 Q12015 Q12017 Q12019 Q12021 Q12023 Q12025 Q12011 Q1 · CEO: +12.42011 Q2 · CEO: +13.32011 Q3 · CEO: +3.32011 Q4 · CEO: +7.02012 Q1 · CEO: +3.62012 Q2 · CEO: +5.52012 Q3 · CEO: +7.32012 Q4 · CEO: +14.92013 Q1 · CEO: +14.62013 Q2 · CEO: +7.92013 Q3 · CEO: +5.02013 Q4 · CEO: +6.82014 Q1 · CEO: +12.22014 Q2 · CEO: +9.32014 Q3 · CEO: +13.82014 Q4 · CEO: +9.12015 Q1 · CEO: +16.82015 Q2 · CEO: +7.72015 Q3 · CEO: +19.12015 Q4 · CEO: +9.52016 Q1 · CEO: +16.42016 Q2 · CEO: +7.82016 Q3 · CEO: +11.82016 Q4 · CEO: +7.02017 Q1 · CEO: +18.92017 Q2 · CEO: +21.82017 Q3 · CEO: +17.12017 Q4 · CEO: +16.92018 Q1 · CEO: +11.02018 Q2 · CEO: +23.72018 Q3 · CEO: +10.22023 Q4 · CEO: +8.12024 Q2 · CEO: +16.82024 Q3 · CEO: +21.12024 Q4 · CEO: +23.82011 Q1 · CFO: +18.92011 Q2 · CFO: +3.92011 Q3 · CFO: +7.92011 Q4 · CFO: +21.02012 Q1 · CFO: +21.02012 Q2 · CFO: +13.92012 Q3 · CFO: +18.12012 Q4 · CFO: +18.52013 Q1 · CFO: +19.42013 Q2 · CFO: +13.62013 Q3 · CFO: +9.22013 Q4 · CFO: +10.32014 Q1 · CFO: -3.82014 Q2 · CFO: +12.02014 Q3 · CFO: +15.32014 Q4 · CFO: +6.82015 Q1 · CFO: +12.52015 Q3 · CFO: +5.52015 Q4 · CFO: +10.02016 Q1 · CFO: +9.32016 Q2 · CFO: +4.52016 Q3 · CFO: +9.62016 Q4 · CFO: +4.02017 Q1 · CFO: +14.02017 Q2 · CFO: +14.22017 Q3 · CFO: +21.12017 Q4 · CFO: +8.82018 Q1 · CFO: +8.32018 Q2 · CFO: +9.22018 Q3 · CFO: +7.82021 Q3 · CFO: +10.62024 Q2 · CFO: +21.52024 Q3 · CFO: +24.62024 Q4 · CFO: +20.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302011 Q12013 Q12015 Q12017 Q12019 Q12021 Q12023 Q12025 Q12011 Q1 · Prepared remarks: +16.02011 Q2 · Prepared remarks: +10.12011 Q3 · Prepared remarks: +4.52011 Q4 · Prepared remarks: +9.12012 Q1 · Prepared remarks: +9.32012 Q2 · Prepared remarks: +11.12012 Q3 · Prepared remarks: +13.62012 Q4 · Prepared remarks: +19.02013 Q1 · Prepared remarks: +20.62013 Q2 · Prepared remarks: +15.62013 Q3 · Prepared remarks: +10.42013 Q4 · Prepared remarks: +12.42014 Q1 · Prepared remarks: +12.72014 Q2 · Prepared remarks: +11.52014 Q3 · Prepared remarks: +14.32014 Q4 · Prepared remarks: +8.42015 Q1 · Prepared remarks: +14.82015 Q2 · Prepared remarks: +8.92015 Q3 · Prepared remarks: +10.82015 Q4 · Prepared remarks: +12.82016 Q1 · Prepared remarks: +12.52016 Q2 · Prepared remarks: +6.22016 Q3 · Prepared remarks: +11.42016 Q4 · Prepared remarks: +8.72017 Q1 · Prepared remarks: +18.32017 Q2 · Prepared remarks: +15.32017 Q3 · Prepared remarks: +18.52017 Q4 · Prepared remarks: +16.32018 Q1 · Prepared remarks: +11.82018 Q2 · Prepared remarks: +17.82018 Q3 · Prepared remarks: +6.72018 Q4 · Prepared remarks: +10.32019 Q1 · Prepared remarks: +12.32019 Q2 · Prepared remarks: +8.42019 Q3 · Prepared remarks: +9.12019 Q4 · Prepared remarks: +12.72020 Q1 · Prepared remarks: +6.72020 Q2 · Prepared remarks: +7.32020 Q3 · Prepared remarks: +16.62020 Q4 · Prepared remarks: +14.82021 Q1 · Prepared remarks: +18.22021 Q2 · Prepared remarks: +19.52021 Q3 · Prepared remarks: +14.62021 Q4 · Prepared remarks: +13.52022 Q1 · Prepared remarks: +13.42022 Q2 · Prepared remarks: +7.72022 Q3 · Prepared remarks: +8.72022 Q4 · Prepared remarks: +13.42023 Q1 · Prepared remarks: +10.22023 Q2 · Prepared remarks: +22.12023 Q3 · Prepared remarks: +18.42023 Q4 · Prepared remarks: +22.82024 Q1 · Prepared remarks: +16.32024 Q2 · Prepared remarks: +21.02024 Q3 · Prepared remarks: +23.22024 Q4 · Prepared remarks: +18.82025 Q1 · Prepared remarks: +11.92011 Q1 · Q&A responses: +8.92011 Q2 · Q&A responses: +9.02011 Q3 · Q&A responses: +6.42011 Q4 · Q&A responses: +11.32012 Q1 · Q&A responses: +2.52012 Q2 · Q&A responses: +3.72012 Q3 · Q&A responses: +1.62012 Q4 · Q&A responses: +11.02013 Q1 · Q&A responses: +10.62013 Q2 · Q&A responses: +1.02013 Q3 · Q&A responses: +1.52013 Q4 · Q&A responses: +2.72014 Q1 · Q&A responses: +5.82014 Q2 · Q&A responses: +7.72014 Q3 · Q&A responses: +14.32014 Q4 · Q&A responses: +8.02015 Q1 · Q&A responses: +13.42015 Q2 · Q&A responses: +7.92015 Q3 · Q&A responses: +14.92015 Q4 · Q&A responses: +5.92016 Q1 · Q&A responses: +11.82016 Q2 · Q&A responses: +7.92016 Q3 · Q&A responses: +11.12016 Q4 · Q&A responses: +2.72017 Q1 · Q&A responses: +13.92017 Q2 · Q&A responses: +19.52017 Q3 · Q&A responses: +17.72017 Q4 · Q&A responses: +11.62018 Q1 · Q&A responses: +11.52018 Q2 · Q&A responses: +18.92018 Q3 · Q&A responses: +9.12018 Q4 · Q&A responses: +10.62019 Q1 · Q&A responses: +7.72019 Q2 · Q&A responses: +17.92019 Q3 · Q&A responses: +3.12019 Q4 · Q&A responses: +11.82020 Q1 · Q&A responses: +2.42020 Q2 · Q&A responses: +12.72020 Q3 · Q&A responses: +8.12020 Q4 · Q&A responses: +15.72021 Q1 · Q&A responses: +6.42021 Q2 · Q&A responses: +12.62021 Q3 · Q&A responses: +1.82021 Q4 · Q&A responses: +17.82022 Q1 · Q&A responses: +6.62022 Q2 · Q&A responses: +10.32022 Q3 · Q&A responses: +7.72022 Q4 · Q&A responses: +9.22023 Q1 · Q&A responses: +18.72023 Q2 · Q&A responses: +26.32023 Q3 · Q&A responses: +13.92023 Q4 · Q&A responses: +12.32024 Q1 · Q&A responses: +16.52024 Q2 · Q&A responses: +15.02024 Q4 · Q&A responses: +24.22025 Q1 · Q&A responses: +12.1
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$16.64$33.92$51.192011 Q12013 Q12015 Q12017 Q12019 Q12021 Q12023 Q12025 Q12014 Q1: $19.022014 Q2: $19.742014 Q3: $20.892014 Q4: $20.722015 Q1: $20.982015 Q2: $21.772015 Q3: $21.552015 Q4: $20.962016 Q1: $20.052016 Q2: $21.112016 Q3: $21.542016 Q4: $22.172017 Q1: $22.102017 Q2: $23.052017 Q3: $24.172017 Q4: $25.472018 Q1: $29.362018 Q2: $29.652018 Q3: $29.762018 Q4: $27.792019 Q1: $27.182019 Q2: $29.252019 Q3: $29.822019 Q4: $30.342020 Q1: $30.022020 Q2: $28.842020 Q3: $32.002020 Q4: $35.172021 Q1: $37.872021 Q2: $39.962021 Q3: $42.212021 Q4: $42.222022 Q1: $42.762022 Q2: $40.672022 Q3: $36.722022 Q4: $34.422023 Q1: $36.262023 Q2: $37.612023 Q3: $39.362023 Q4: $37.742024 Q1: $41.622024 Q2: $44.082024 Q3: $45.332024 Q4: $48.81

Forward P/E

11.6917.1022.512011 Q12013 Q12015 Q12017 Q12019 Q12021 Q12023 Q12025 Q12014 Q1: 15.692014 Q2: 16.202014 Q3: 15.792014 Q4: 16.822015 Q1: 18.012015 Q2: 16.412015 Q3: 14.552015 Q4: 15.792016 Q1: 16.662016 Q2: 16.082016 Q3: 16.752016 Q4: 17.592017 Q1: 17.572017 Q2: 18.282017 Q3: 17.612017 Q4: 20.122018 Q1: 19.032018 Q2: 17.952018 Q3: 16.252018 Q4: 13.392019 Q1: 15.892019 Q2: 15.552019 Q3: 14.862019 Q4: 16.462020 Q1: 12.442020 Q2: 19.252020 Q3: 17.562020 Q4: 19.862021 Q1: 19.232021 Q2: 21.762021 Q3: 21.552021 Q4: 21.672022 Q1: 17.102022 Q2: 14.752022 Q3: 17.532022 Q4: 20.672023 Q1: 17.422023 Q2: 18.412023 Q3: 17.712023 Q4: 20.492024 Q1: 19.852024 Q2: 17.782024 Q3: 20.362024 Q4: 20.90

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q2 tone ↓ -5.7 fwd EPS ↑ +0.79 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↑ +5.9 fwd EPS ↓ -0.22 Tone rose while the forward EPS estimate was cut.
  • 2016 Q1 tone ↑ +3.5 fwd EPS ↓ -0.91 Tone rose while the forward EPS estimate was cut.
  • 2016 Q2 tone ↓ -6.0 fwd EPS ↑ +1.06 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -4.9 fwd EPS ↑ +0.64 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q4 tone ↓ -4.6 fwd EPS ↑ +1.30 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↑ +2.4 fwd EPS ↓ -1.97 Tone rose while the forward EPS estimate was cut.
  • 2019 Q3 tone ↓ -7.1 fwd EPS ↑ +0.57 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +4.1 fwd EPS ↓ -1.18 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -7.0 fwd EPS ↑ +2.25 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -4.7 fwd EPS ↑ +0.54 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +3.4 fwd EPS ↓ -2.30 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -7.2 fwd EPS ↑ +1.75 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↑ +2.9 fwd EPS ↓ -1.62 Tone rose while the forward EPS estimate was cut.
  • 2024 Q4 tone ↓ -2.3 fwd EPS ↑ +3.48 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-11+10.6——View →
2024 Q42025-01-15+20.3$48.8120.9View →
2024 Q32024-10-11+22.5$45.3320.4View →
2024 Q22024-07-15+16.7$44.0817.8View →
2024 Q12024-04-12+15.6$41.6219.9View →
2023 Q42024-01-12+17.5$37.7420.5View →
2023 Q32023-10-13+14.5$39.3617.7View →
2023 Q22023-07-14+21.7$37.6118.4View →