Subtext

CE

SectorMaterials
Transcripts61
Date range2008-02-06 – 2025-05-06
Calls charted61

Sentiment timeline

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

-11-5+0+5+112007 Q42012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12007 Q4 · Overall: +8.22008 Q1 · Overall: +4.32008 Q2 · Overall: +1.72008 Q3 · Overall: +4.62008 Q4 · Overall: -2.12011 Q2 · Overall: +8.22011 Q3 · Overall: +6.52011 Q4 · Overall: +5.22012 Q1 · Overall: +3.42012 Q2 · Overall: +0.72012 Q3 · Overall: +1.82012 Q4 · Overall: -1.02013 Q1 · Overall: +5.92013 Q2 · Overall: -2.92013 Q3 · Overall: -0.52013 Q4 · Overall: +2.12014 Q1 · Overall: +4.02014 Q2 · Overall: +1.42014 Q3 · Overall: -1.82014 Q4 · Overall: +0.02015 Q1 · Overall: +5.62015 Q2 · Overall: +6.92015 Q3 · Overall: +0.72015 Q4 · Overall: +3.42016 Q1 · Overall: +1.52016 Q2 · Overall: -0.82016 Q3 · Overall: +8.82016 Q4 · Overall: +1.72017 Q1 · Overall: -3.72017 Q2 · Overall: -4.12017 Q3 · Overall: +0.22017 Q4 · Overall: +2.12018 Q1 · Overall: +6.62018 Q2 · Overall: +2.42018 Q3 · Overall: +3.62018 Q4 · Overall: -1.62019 Q1 · Overall: +1.82019 Q2 · Overall: -1.22019 Q3 · Overall: -1.22019 Q4 · Overall: +1.52020 Q1 · Overall: -3.02020 Q2 · Overall: +2.42020 Q3 · Overall: +1.02020 Q4 · Overall: +4.42021 Q1 · Overall: +0.12021 Q2 · Overall: -3.32021 Q3 · Overall: -1.82021 Q4 · Overall: +2.12022 Q1 · Overall: -9.52022 Q2 · Overall: +0.72022 Q3 · Overall: -3.22022 Q4 · Overall: +2.62023 Q1 · Overall: +2.32023 Q2 · Overall: -0.12023 Q3 · Overall: +1.42023 Q4 · Overall: +1.12024 Q1 · Overall: -2.62024 Q2 · Overall: +0.12024 Q3 · Overall: -3.22024 Q4 · Overall: -0.52025 Q1 · Overall: -2.1
Overall

CEO vs CFO

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

-34-17+0+17+342007 Q42012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12007 Q4 · CEO: +11.12008 Q1 · CEO: +7.42008 Q2 · CEO: +8.62008 Q3 · CEO: +2.42008 Q4 · CEO: -1.42011 Q2 · CEO: +10.12011 Q3 · CEO: +10.82011 Q4 · CEO: +5.22012 Q1 · CEO: +11.32012 Q2 · CEO: +1.42012 Q3 · CEO: +5.52012 Q4 · CEO: +4.12013 Q1 · CEO: +10.72013 Q2 · CEO: +1.22013 Q3 · CEO: +5.82013 Q4 · CEO: +2.92014 Q1 · CEO: +3.32014 Q2 · CEO: +1.22014 Q3 · CEO: +1.42014 Q4 · CEO: +1.02015 Q1 · CEO: +6.22015 Q2 · CEO: +9.22015 Q3 · CEO: +6.52015 Q4 · CEO: +9.42016 Q1 · CEO: +2.92016 Q2 · CEO: +3.62016 Q3 · CEO: +15.92016 Q4 · CEO: +9.42017 Q1 · CEO: -1.22017 Q2 · CEO: -0.32017 Q3 · CEO: +2.12017 Q4 · CEO: +3.62018 Q1 · CEO: +11.02018 Q2 · CEO: +6.02018 Q3 · CEO: +5.32018 Q4 · CEO: -3.12019 Q1 · CEO: +9.12019 Q2 · CEO: +2.92019 Q3 · CEO: +3.62019 Q4 · CEO: +6.72020 Q1 · CEO: +1.82020 Q2 · CEO: +8.32020 Q3 · CEO: +7.62020 Q4 · CEO: +6.82021 Q1 · CEO: +2.82021 Q2 · CEO: +4.22021 Q3 · CEO: +0.12021 Q4 · CEO: +5.92022 Q1 · CEO: +9.22022 Q2 · CEO: +2.32022 Q3 · CEO: -0.52022 Q4 · CEO: +6.12023 Q1 · CEO: +6.32023 Q2 · CEO: +4.82023 Q3 · CEO: +7.22023 Q4 · CEO: +9.02024 Q1 · CEO: +1.72024 Q2 · CEO: +3.42024 Q3 · CEO: +3.62024 Q4 · CEO: +8.62025 Q1 · CEO: +4.42007 Q4 · CFO: +13.22008 Q1 · CFO: +22.22008 Q3 · CFO: +10.22008 Q4 · CFO: +2.42011 Q2 · CFO: +14.92011 Q3 · CFO: +15.12011 Q4 · CFO: +6.62012 Q1 · CFO: +5.72012 Q2 · CFO: -7.52012 Q3 · CFO: +7.42012 Q4 · CFO: -6.22013 Q1 · CFO: +14.62013 Q2 · CFO: +10.02013 Q3 · CFO: +0.02013 Q4 · CFO: +0.02014 Q1 · CFO: +14.22014 Q2 · CFO: +11.72014 Q3 · CFO: -6.62014 Q4 · CFO: +6.52015 Q3 · CFO: +0.02015 Q4 · CFO: -1.42016 Q1 · CFO: +3.62016 Q3 · CFO: +11.12016 Q4 · CFO: +10.42017 Q1 · CFO: +0.02017 Q2 · CFO: +0.02017 Q3 · CFO: +7.42017 Q4 · CFO: +29.32018 Q1 · CFO: -2.82018 Q2 · CFO: +27.32018 Q3 · CFO: +6.52018 Q4 · CFO: +14.42019 Q1 · CFO: +10.02019 Q2 · CFO: +4.02019 Q3 · CFO: +0.02019 Q4 · CFO: +2.62020 Q1 · CFO: +6.92020 Q2 · CFO: +1.52020 Q3 · CFO: +7.12020 Q4 · CFO: +9.62021 Q1 · CFO: +7.02021 Q2 · CFO: +1.52021 Q3 · CFO: -9.52021 Q4 · CFO: +15.72022 Q2 · CFO: +13.82022 Q3 · CFO: +6.92022 Q4 · CFO: +4.92023 Q1 · CFO: +3.12023 Q2 · CFO: +10.62023 Q3 · CFO: +10.62023 Q4 · CFO: +19.92024 Q1 · CFO: +9.62024 Q2 · CFO: +3.02024 Q3 · CFO: -8.82024 Q4 · CFO: +9.52025 Q1 · CFO: +11.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-33-16+0+16+332007 Q42012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12007 Q4 · Prepared remarks: +15.82008 Q1 · Prepared remarks: +13.12008 Q2 · Prepared remarks: +12.42008 Q3 · Prepared remarks: +5.42008 Q4 · Prepared remarks: -3.92011 Q2 · Prepared remarks: +18.82011 Q3 · Prepared remarks: +19.12011 Q4 · Prepared remarks: +10.22012 Q1 · Prepared remarks: +10.72012 Q2 · Prepared remarks: -12.22012 Q3 · Prepared remarks: -1.32012 Q4 · Prepared remarks: -1.52013 Q1 · Prepared remarks: +3.82013 Q2 · Prepared remarks: +5.42013 Q3 · Prepared remarks: +16.12013 Q4 · Prepared remarks: +11.12014 Q1 · Prepared remarks: +3.32014 Q2 · Prepared remarks: +5.32014 Q3 · Prepared remarks: +2.02014 Q4 · Prepared remarks: -3.92015 Q1 · Prepared remarks: +1.32015 Q2 · Prepared remarks: +8.72015 Q3 · Prepared remarks: +10.12015 Q4 · Prepared remarks: +10.92016 Q1 · Prepared remarks: -4.92016 Q2 · Prepared remarks: +8.62016 Q3 · Prepared remarks: +13.22016 Q4 · Prepared remarks: +8.82017 Q1 · Prepared remarks: -2.92017 Q2 · Prepared remarks: -2.82017 Q3 · Prepared remarks: -10.22017 Q4 · Prepared remarks: +2.52018 Q1 · Prepared remarks: +6.82018 Q2 · Prepared remarks: -2.22018 Q3 · Prepared remarks: -5.42018 Q4 · Prepared remarks: -5.82019 Q1 · Prepared remarks: -9.52019 Q2 · Prepared remarks: -17.82019 Q3 · Prepared remarks: -6.02019 Q4 · Prepared remarks: -12.22020 Q1 · Prepared remarks: -8.62020 Q2 · Prepared remarks: -16.92020 Q3 · Prepared remarks: -17.12020 Q4 · Prepared remarks: -17.22021 Q1 · Prepared remarks: -11.62021 Q2 · Prepared remarks: -11.62021 Q3 · Prepared remarks: -11.42021 Q4 · Prepared remarks: -11.52022 Q1 · Prepared remarks: -17.02022 Q2 · Prepared remarks: +5.32022 Q3 · Prepared remarks: -16.92022 Q4 · Prepared remarks: -17.82023 Q1 · Prepared remarks: -12.22023 Q2 · Prepared remarks: -17.82023 Q3 · Prepared remarks: +28.42023 Q4 · Prepared remarks: -12.52024 Q1 · Prepared remarks: +0.02024 Q2 · Prepared remarks: -12.62024 Q3 · Prepared remarks: +5.82024 Q4 · Prepared remarks: +11.72025 Q1 · Prepared remarks: -12.82007 Q4 · Q&A responses: +8.22008 Q1 · Q&A responses: +2.52008 Q2 · Q&A responses: -1.02008 Q3 · Q&A responses: +5.12008 Q4 · Q&A responses: +4.42011 Q2 · Q&A responses: +6.42011 Q3 · Q&A responses: +5.22011 Q4 · Q&A responses: +4.92012 Q1 · Q&A responses: +4.32012 Q2 · Q&A responses: +5.02012 Q3 · Q&A responses: +6.52012 Q4 · Q&A responses: +2.02013 Q1 · Q&A responses: +10.02013 Q2 · Q&A responses: +0.82013 Q3 · Q&A responses: +1.72013 Q4 · Q&A responses: +2.02014 Q1 · Q&A responses: +5.02014 Q2 · Q&A responses: +2.42014 Q3 · Q&A responses: +0.92014 Q4 · Q&A responses: +1.62015 Q1 · Q&A responses: +7.92015 Q2 · Q&A responses: +7.52015 Q3 · Q&A responses: +0.52015 Q4 · Q&A responses: +4.42016 Q1 · Q&A responses: +1.72016 Q2 · Q&A responses: -0.82016 Q3 · Q&A responses: +8.02016 Q4 · Q&A responses: -0.22017 Q1 · Q&A responses: -3.12017 Q2 · Q&A responses: +1.82017 Q3 · Q&A responses: +5.02017 Q4 · Q&A responses: +4.52018 Q1 · Q&A responses: +10.82018 Q2 · Q&A responses: +4.82018 Q3 · Q&A responses: +7.02018 Q4 · Q&A responses: -1.32019 Q1 · Q&A responses: +8.62019 Q2 · Q&A responses: +1.62019 Q3 · Q&A responses: +2.82019 Q4 · Q&A responses: +4.72020 Q1 · Q&A responses: +3.22020 Q2 · Q&A responses: +6.82020 Q3 · Q&A responses: +7.02020 Q4 · Q&A responses: +6.92021 Q1 · Q&A responses: +3.12021 Q2 · Q&A responses: +3.52021 Q3 · Q&A responses: -0.62021 Q4 · Q&A responses: +6.42022 Q1 · Q&A responses: +4.52022 Q2 · Q&A responses: +2.92022 Q3 · Q&A responses: +0.12022 Q4 · Q&A responses: +5.42023 Q1 · Q&A responses: +4.52023 Q2 · Q&A responses: +5.52023 Q3 · Q&A responses: +3.82023 Q4 · Q&A responses: +7.52024 Q1 · Q&A responses: +0.62024 Q2 · Q&A responses: +5.62024 Q3 · Q&A responses: +1.92024 Q4 · Q&A responses: +5.72025 Q1 · Q&A responses: +3.0
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

$4.07$11.23$18.392007 Q42012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12014 Q1: $5.062014 Q2: $5.222014 Q3: $5.372014 Q4: $5.562015 Q1: $5.362015 Q2: $5.952015 Q3: $6.032015 Q4: $6.402016 Q1: $6.502016 Q2: $6.872016 Q3: $6.892016 Q4: $7.232017 Q1: $7.452017 Q2: $7.662017 Q3: $7.902017 Q4: $8.242018 Q1: $8.762018 Q2: $9.802018 Q3: $10.822018 Q4: $11.212019 Q1: $10.792019 Q2: $11.112019 Q3: $11.082019 Q4: $11.112020 Q1: $10.702020 Q2: $7.882020 Q3: $8.542020 Q4: $9.152021 Q1: $10.352021 Q2: $13.122021 Q3: $14.682021 Q4: $15.752022 Q1: $15.872022 Q2: $17.402022 Q3: $16.482022 Q4: $13.012023 Q1: $12.602023 Q2: $12.542023 Q3: $11.652023 Q4: $11.952024 Q1: $12.042024 Q2: $12.652024 Q3: $12.11

Forward P/E

4.829.8714.912007 Q42012 Q12014 Q12016 Q12018 Q12020 Q12022 Q12024 Q12014 Q1: 10.872014 Q2: 12.352014 Q3: 11.422014 Q4: 10.312015 Q1: 10.482015 Q2: 11.862015 Q3: 10.382015 Q4: 10.512016 Q1: 9.982016 Q2: 10.142016 Q3: 8.912016 Q4: 11.312017 Q1: 12.422017 Q2: 11.752017 Q3: 12.572017 Q4: 13.142018 Q1: 12.112018 Q2: 11.802018 Q3: 10.592018 Q4: 7.562019 Q1: 9.442019 Q2: 9.412019 Q3: 11.172019 Q4: 10.902020 Q1: 5.522020 Q2: 11.312020 Q3: 13.282020 Q4: 14.212021 Q1: 14.162021 Q2: 11.642021 Q3: 10.312021 Q4: 10.162022 Q1: 8.972022 Q2: 7.722022 Q3: 6.552022 Q4: 8.152023 Q1: 8.122023 Q2: 9.282023 Q3: 10.662023 Q4: 12.142024 Q1: 13.112024 Q2: 10.992024 Q3: 10.43

Divergence watch ⚑

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

  • 2014 Q2 tone ↓ -2.6 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q3 tone ↓ -3.2 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↑ +5.6 fwd EPS ↓ -0.20 Tone rose while the forward EPS estimate was cut.
  • 2015 Q3 tone ↓ -6.2 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -2.3 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -7.1 fwd EPS ↑ +0.34 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -5.5 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -4.2 fwd EPS ↑ +1.04 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -5.2 fwd EPS ↑ +0.39 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↑ +3.4 fwd EPS ↓ -0.43 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↓ -2.9 fwd EPS ↑ +0.32 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +5.4 fwd EPS ↓ -2.83 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -4.2 fwd EPS ↑ +1.20 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -3.4 fwd EPS ↑ +2.77 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +5.8 fwd EPS ↓ -3.47 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-06-2.1——View →
2024 Q42025-02-19-0.5——View →
2024 Q32024-11-05-3.2$12.1110.4View →
2024 Q22024-08-02+0.1$12.6511.0View →
2024 Q12024-05-09-2.6$12.0413.1View →
2023 Q42024-02-21+1.1$11.9512.1View →
2023 Q32023-11-07+1.4$11.6510.7View →
2023 Q22023-08-08-0.1$12.549.3View →