Subtext

BWA

SectorConsumer Discretionary
Transcripts64
Date range2007-10-26 – 2025-05-07
Calls charted64

Sentiment timeline

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

-14-7+0+7+142007 Q32011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22007 Q3 · Overall: +12.32007 Q4 · Overall: +4.72008 Q1 · Overall: +0.42008 Q2 · Overall: +2.42008 Q3 · Overall: -6.92008 Q4 · Overall: -2.92009 Q3 · Overall: +5.02009 Q4 · Overall: +8.32011 Q2 · Overall: +7.02011 Q3 · Overall: +9.32011 Q4 · Overall: +7.82012 Q1 · Overall: +10.12012 Q2 · Overall: +6.42012 Q3 · Overall: +2.02012 Q4 · Overall: +5.02013 Q1 · Overall: +4.02013 Q2 · Overall: +7.52013 Q3 · Overall: +6.02013 Q4 · Overall: +4.72014 Q1 · Overall: +7.52014 Q2 · Overall: +7.42014 Q3 · Overall: -0.12014 Q4 · Overall: +4.12015 Q1 · Overall: +1.82015 Q2 · Overall: +2.02015 Q3 · Overall: -0.62015 Q4 · Overall: +4.92016 Q1 · Overall: +7.22016 Q2 · Overall: +6.32016 Q3 · Overall: +8.42016 Q4 · Overall: +9.12017 Q1 · Overall: +11.42017 Q2 · Overall: +8.32017 Q3 · Overall: +11.02017 Q4 · Overall: +7.12018 Q1 · Overall: +9.52018 Q2 · Overall: +6.82018 Q3 · Overall: +0.82018 Q4 · Overall: -3.62019 Q1 · Overall: -0.82019 Q2 · Overall: -5.52019 Q3 · Overall: +7.72019 Q4 · Overall: +2.92020 Q1 · Overall: +0.32020 Q2 · Overall: +1.42020 Q3 · Overall: +8.82020 Q4 · Overall: +9.32021 Q1 · Overall: +10.52021 Q2 · Overall: +5.92021 Q3 · Overall: +4.42021 Q4 · Overall: +7.52022 Q1 · Overall: +2.42022 Q2 · Overall: +5.02022 Q3 · Overall: +7.82022 Q4 · Overall: +10.62023 Q1 · Overall: +7.12023 Q2 · Overall: +8.42023 Q3 · Overall: +4.92023 Q4 · Overall: +3.92024 Q1 · Overall: +5.02024 Q2 · Overall: +5.72024 Q3 · Overall: +6.92024 Q4 · Overall: +9.32025 Q1 · Overall: +10.1
Overall

CEO vs CFO

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

-30-15+0+15+302007 Q32011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22007 Q3 · CEO: +12.32007 Q4 · CEO: +8.42008 Q1 · CEO: +2.12008 Q2 · CEO: +7.22008 Q3 · CEO: -5.62008 Q4 · CEO: +1.82009 Q3 · CEO: +8.02009 Q4 · CEO: +12.72011 Q2 · CEO: +14.62011 Q3 · CEO: +11.52011 Q4 · CEO: +12.82012 Q1 · CEO: +18.22012 Q2 · CEO: +18.42012 Q3 · CEO: +6.92013 Q1 · CEO: +9.82013 Q2 · CEO: +20.62013 Q3 · CEO: +18.12013 Q4 · CEO: +16.72014 Q1 · CEO: +23.02014 Q2 · CEO: +26.12014 Q3 · CEO: +14.62014 Q4 · CEO: +17.12015 Q1 · CEO: +13.62015 Q2 · CEO: +16.22015 Q3 · CEO: +1.82015 Q4 · CEO: +9.22016 Q1 · CEO: +11.02016 Q2 · CEO: +10.02016 Q3 · CEO: +12.92016 Q4 · CEO: +15.22017 Q1 · CEO: +18.82017 Q2 · CEO: +13.32017 Q3 · CEO: +18.42017 Q4 · CEO: +15.02018 Q1 · CEO: +13.12018 Q2 · CEO: +18.52018 Q3 · CEO: +9.02018 Q4 · CEO: +3.52019 Q1 · CEO: +11.82019 Q2 · CEO: +7.32019 Q3 · CEO: +16.52007 Q4 · CFO: +5.32008 Q1 · CFO: +0.62008 Q2 · CFO: +0.42008 Q3 · CFO: -8.32008 Q4 · CFO: -6.12009 Q3 · CFO: +6.62009 Q4 · CFO: +6.72011 Q2 · CFO: +5.12011 Q3 · CFO: +11.52011 Q4 · CFO: +9.82012 Q1 · CFO: +9.32012 Q2 · CFO: +8.62012 Q3 · CFO: +2.32012 Q4 · CFO: +3.42013 Q1 · CFO: +5.12013 Q2 · CFO: +4.62013 Q3 · CFO: +5.62013 Q4 · CFO: +3.62014 Q1 · CFO: +6.42014 Q2 · CFO: +4.22014 Q3 · CFO: -2.52014 Q4 · CFO: +3.92015 Q1 · CFO: -1.72015 Q2 · CFO: -5.92015 Q3 · CFO: +2.02015 Q4 · CFO: +6.32016 Q1 · CFO: +4.02016 Q2 · CFO: +6.92016 Q3 · CFO: +7.42016 Q4 · CFO: +3.92017 Q1 · CFO: +4.42017 Q2 · CFO: +5.82017 Q3 · CFO: +8.62017 Q4 · CFO: +9.12018 Q1 · CFO: +12.32018 Q2 · CFO: +6.02018 Q3 · CFO: -4.62018 Q4 · CFO: -3.02019 Q2 · CFO: -14.12019 Q3 · CFO: +3.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-18+0+18+372007 Q32011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22007 Q3 · Prepared remarks: +17.92007 Q4 · Prepared remarks: +12.52008 Q1 · Prepared remarks: +5.72008 Q2 · Prepared remarks: +3.92008 Q3 · Prepared remarks: -7.22008 Q4 · Prepared remarks: -2.02009 Q3 · Prepared remarks: +8.22009 Q4 · Prepared remarks: +14.12011 Q2 · Prepared remarks: +10.82011 Q3 · Prepared remarks: +13.62011 Q4 · Prepared remarks: +12.92012 Q1 · Prepared remarks: +17.12012 Q2 · Prepared remarks: +13.92012 Q3 · Prepared remarks: +7.02012 Q4 · Prepared remarks: +8.92013 Q1 · Prepared remarks: +11.92013 Q2 · Prepared remarks: +15.12013 Q3 · Prepared remarks: +13.62013 Q4 · Prepared remarks: +12.72014 Q1 · Prepared remarks: +20.52014 Q2 · Prepared remarks: +18.92014 Q3 · Prepared remarks: +15.62014 Q4 · Prepared remarks: +15.12015 Q1 · Prepared remarks: +8.22015 Q2 · Prepared remarks: +3.72015 Q3 · Prepared remarks: +6.42015 Q4 · Prepared remarks: +8.32016 Q1 · Prepared remarks: +8.72016 Q2 · Prepared remarks: +10.52016 Q3 · Prepared remarks: +10.92016 Q4 · Prepared remarks: +10.62017 Q1 · Prepared remarks: +11.52017 Q2 · Prepared remarks: +9.82017 Q3 · Prepared remarks: +10.82017 Q4 · Prepared remarks: +16.12018 Q1 · Prepared remarks: +15.52018 Q2 · Prepared remarks: +14.02018 Q3 · Prepared remarks: +2.12018 Q4 · Prepared remarks: +2.12019 Q1 · Prepared remarks: +4.02019 Q2 · Prepared remarks: -3.22019 Q3 · Prepared remarks: +12.62019 Q4 · Prepared remarks: +13.42020 Q1 · Prepared remarks: +0.42020 Q2 · Prepared remarks: +8.02020 Q3 · Prepared remarks: +13.22020 Q4 · Prepared remarks: +19.12021 Q1 · Prepared remarks: +20.92021 Q2 · Prepared remarks: +15.02021 Q3 · Prepared remarks: +6.62021 Q4 · Prepared remarks: +15.02022 Q1 · Prepared remarks: +8.62022 Q2 · Prepared remarks: +19.22022 Q3 · Prepared remarks: +21.02022 Q4 · Prepared remarks: +16.62023 Q1 · Prepared remarks: +12.52023 Q2 · Prepared remarks: +14.92023 Q3 · Prepared remarks: +16.52023 Q4 · Prepared remarks: +13.72024 Q1 · Prepared remarks: +31.82024 Q2 · Prepared remarks: +7.32024 Q3 · Prepared remarks: +18.82024 Q4 · Prepared remarks: +8.62025 Q1 · Prepared remarks: +17.32007 Q3 · Q&A responses: +11.12007 Q4 · Q&A responses: +1.72008 Q1 · Q&A responses: -1.82008 Q2 · Q&A responses: +4.32008 Q3 · Q&A responses: -6.72008 Q4 · Q&A responses: -3.22009 Q3 · Q&A responses: +5.42009 Q4 · Q&A responses: +0.92011 Q2 · Q&A responses: +6.32011 Q3 · Q&A responses: +7.42011 Q4 · Q&A responses: +7.22012 Q1 · Q&A responses: +6.82012 Q2 · Q&A responses: +6.12012 Q3 · Q&A responses: +2.22012 Q4 · Q&A responses: +6.32013 Q1 · Q&A responses: +2.52013 Q2 · Q&A responses: +8.72013 Q3 · Q&A responses: +4.92013 Q4 · Q&A responses: +6.62014 Q1 · Q&A responses: +4.02014 Q2 · Q&A responses: +6.52014 Q3 · Q&A responses: -4.32014 Q4 · Q&A responses: +0.42015 Q1 · Q&A responses: +2.32015 Q2 · Q&A responses: +7.22015 Q3 · Q&A responses: -3.02015 Q4 · Q&A responses: +7.32016 Q1 · Q&A responses: +9.92016 Q2 · Q&A responses: +5.52016 Q3 · Q&A responses: +10.92016 Q4 · Q&A responses: +11.62017 Q1 · Q&A responses: +15.12017 Q2 · Q&A responses: +10.92017 Q3 · Q&A responses: +15.92017 Q4 · Q&A responses: +6.32018 Q1 · Q&A responses: +9.92018 Q2 · Q&A responses: +1.32018 Q3 · Q&A responses: +2.62018 Q4 · Q&A responses: -0.32019 Q1 · Q&A responses: +2.42019 Q2 · Q&A responses: -1.52019 Q3 · Q&A responses: +2.52019 Q4 · Q&A responses: +0.02020 Q1 · Q&A responses: +1.02020 Q2 · Q&A responses: -0.32020 Q3 · Q&A responses: +9.52020 Q4 · Q&A responses: +14.12021 Q1 · Q&A responses: +5.12021 Q2 · Q&A responses: +3.22021 Q3 · Q&A responses: +7.22021 Q4 · Q&A responses: +9.62022 Q1 · Q&A responses: +2.02022 Q2 · Q&A responses: -2.02022 Q3 · Q&A responses: +5.02022 Q4 · Q&A responses: +8.32023 Q1 · Q&A responses: +7.22023 Q2 · Q&A responses: +9.42023 Q3 · Q&A responses: +0.02023 Q4 · Q&A responses: +2.32024 Q1 · Q&A responses: +4.72024 Q2 · Q&A responses: -12.22024 Q3 · Q&A responses: +0.02024 Q4 · Q&A responses: +0.02025 Q1 · Q&A responses: +8.8
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

$2.29$3.97$5.652007 Q32011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22014 Q1: $3.422014 Q2: $3.652014 Q3: $3.832014 Q4: $3.742015 Q1: $3.642015 Q2: $3.562015 Q3: $3.482015 Q4: $3.422016 Q1: $3.332016 Q2: $3.462016 Q3: $3.482016 Q4: $3.542017 Q1: $3.482017 Q2: $3.692017 Q3: $3.912017 Q4: $4.152018 Q1: $4.442018 Q2: $4.592018 Q3: $4.662018 Q4: $4.642019 Q1: $4.332019 Q2: $4.392019 Q3: $4.082019 Q4: $4.122020 Q1: $3.902020 Q2: $2.522020 Q3: $3.122020 Q4: $3.772021 Q1: $4.222021 Q2: $4.592021 Q3: $4.872021 Q4: $4.692022 Q1: $4.772022 Q2: $4.622022 Q3: $4.882022 Q4: $4.932023 Q1: $5.082023 Q2: $5.422023 Q3: $4.242023 Q4: $4.282024 Q1: $4.012024 Q2: $4.362024 Q3: $4.52

Forward P/E

4.0211.5018.972007 Q32011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22014 Q1: 17.942014 Q2: 17.822014 Q3: 15.112014 Q4: 14.022015 Q1: 16.672015 Q2: 16.972015 Q3: 12.822015 Q4: 12.322016 Q1: 11.122016 Q2: 9.442016 Q3: 10.022016 Q4: 11.102017 Q1: 12.612017 Q2: 11.722017 Q3: 12.182017 Q4: 12.612018 Q1: 11.392018 Q2: 10.532018 Q3: 9.692018 Q4: 7.312019 Q1: 8.922019 Q2: 9.432019 Q3: 9.202019 Q4: 10.972020 Q1: 5.052020 Q2: 13.232020 Q3: 12.682020 Q4: 10.192021 Q1: 11.762021 Q2: 11.182021 Q3: 8.982021 Q4: 9.522022 Q1: 8.002022 Q2: 7.742022 Q3: 7.612022 Q4: 8.352023 Q1: 9.032023 Q2: 8.832023 Q3: 9.532023 Q4: 7.822024 Q1: 8.092024 Q2: 7.572024 Q3: 7.24

Divergence watch ⚑

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

  • 2014 Q3 tone ↓ -7.5 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q4 tone ↑ +4.2 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2015 Q4 tone ↑ +5.5 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2016 Q1 tone ↑ +2.3 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2017 Q1 tone ↑ +2.3 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2017 Q2 tone ↓ -3.1 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q4 tone ↓ -3.9 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -2.7 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -6.0 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↑ +2.8 fwd EPS ↓ -0.31 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↓ -4.7 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +13.2 fwd EPS ↓ -0.31 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↓ -4.6 fwd EPS ↑ +0.37 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↑ +3.1 fwd EPS ↓ -0.18 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -5.1 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↑ +2.6 fwd EPS ↓ -0.14 Tone rose while the forward EPS estimate was cut.
  • 2023 Q1 tone ↓ -3.5 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-07+10.1——View →
2024 Q42025-02-06+9.3——View →
2024 Q32024-10-31+6.9$4.527.2View →
2024 Q22024-07-31+5.7$4.367.6View →
2024 Q12024-05-02+5.0$4.018.1View →
2023 Q42024-02-08+3.9$4.287.8View →
2023 Q32023-11-02+4.9$4.249.5View →
2023 Q22023-08-02+8.4$5.428.8View →