Subtext

CoStar Group, Inc. CSGP

SectorReal Estate
Transcripts21
Date range2020-04-29 – 2025-04-30
Calls charted21

Sentiment timeline

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

-19-9+0+9+192020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: -7.22020 Q2 · Overall: +2.42020 Q3 · Overall: +9.52020 Q4 · Overall: +10.62021 Q1 · Overall: +10.62021 Q2 · Overall: +12.82021 Q3 · Overall: +9.52021 Q4 · Overall: +16.22022 Q1 · Overall: +4.62022 Q2 · Overall: +12.52022 Q3 · Overall: +6.32022 Q4 · Overall: +10.62023 Q1 · Overall: +7.32023 Q2 · Overall: +9.22023 Q3 · Overall: +7.72023 Q4 · Overall: +7.72024 Q1 · Overall: +9.32024 Q2 · Overall: +10.72024 Q3 · Overall: +7.42024 Q4 · Overall: +14.12025 Q1 · Overall: +11.6
Overall

CEO vs CFO

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

-26-13+0+13+262020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: -7.92020 Q2 · CEO: +3.22020 Q3 · CEO: +12.72020 Q4 · CEO: +13.72021 Q1 · CEO: +15.92021 Q2 · CEO: +15.62021 Q3 · CEO: +13.32021 Q4 · CEO: +22.82022 Q2 · CEO: +16.02022 Q3 · CEO: +7.72022 Q4 · CEO: +16.72023 Q1 · CEO: +12.82023 Q2 · CEO: +11.42023 Q3 · CEO: +11.82023 Q4 · CEO: +11.82024 Q1 · CEO: +12.12024 Q2 · CEO: +13.22024 Q3 · CEO: +10.42024 Q4 · CEO: +18.72025 Q1 · CEO: +17.02020 Q1 · CFO: -2.72020 Q2 · CFO: +7.32020 Q3 · CFO: +11.02020 Q4 · CFO: +9.32021 Q1 · CFO: +3.62021 Q2 · CFO: +15.12021 Q3 · CFO: +5.62021 Q4 · CFO: +14.62022 Q2 · CFO: +6.82022 Q3 · CFO: +12.42022 Q4 · CFO: +9.42023 Q1 · CFO: +0.52023 Q2 · CFO: +6.22023 Q3 · CFO: +6.62023 Q4 · CFO: +6.62024 Q1 · CFO: +9.22024 Q2 · CFO: +13.92024 Q3 · CFO: +4.92024 Q4 · CFO: +11.52025 Q1 · CFO: +1.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-45-23+0+23+452020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: -5.82020 Q2 · Prepared remarks: +5.22020 Q3 · Prepared remarks: +11.62020 Q4 · Prepared remarks: +14.22021 Q1 · Prepared remarks: +14.72021 Q2 · Prepared remarks: +15.42021 Q3 · Prepared remarks: +12.12021 Q4 · Prepared remarks: +20.52022 Q1 · Prepared remarks: +39.42022 Q2 · Prepared remarks: +11.52022 Q3 · Prepared remarks: +11.12022 Q4 · Prepared remarks: +15.62023 Q1 · Prepared remarks: +12.22023 Q2 · Prepared remarks: +11.52023 Q3 · Prepared remarks: +10.12023 Q4 · Prepared remarks: +10.12024 Q1 · Prepared remarks: +12.62024 Q2 · Prepared remarks: +18.32024 Q3 · Prepared remarks: +10.32024 Q4 · Prepared remarks: +15.62025 Q1 · Prepared remarks: +16.12020 Q1 · Q&A responses: -6.42020 Q2 · Q&A responses: +3.62020 Q3 · Q&A responses: +12.82020 Q4 · Q&A responses: +3.02021 Q1 · Q&A responses: +9.62021 Q2 · Q&A responses: +14.02021 Q3 · Q&A responses: +8.82021 Q4 · Q&A responses: +18.52022 Q1 · Q&A responses: +9.02022 Q2 · Q&A responses: +17.92022 Q3 · Q&A responses: +3.72022 Q4 · Q&A responses: +10.42023 Q1 · Q&A responses: +4.22023 Q2 · Q&A responses: +7.72023 Q3 · Q&A responses: +8.92023 Q4 · Q&A responses: +8.92024 Q1 · Q&A responses: +8.22024 Q2 · Q&A responses: +6.22024 Q3 · Q&A responses: +7.42024 Q4 · Q&A responses: +16.62025 Q1 · Q&A responses: +2.8
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

$0.72$1.13$1.542020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $1.112020 Q2: $1.052020 Q3: $1.102020 Q4: $1.152021 Q1: $1.172021 Q2: $1.282021 Q3: $1.312021 Q4: $1.362022 Q1: $1.062022 Q2: $1.152022 Q3: $1.272022 Q4: $1.482023 Q1: $1.172023 Q2: $1.382023 Q3: $1.412023 Q4: $1.342024 Q1: $0.772024 Q2: $0.942024 Q3: $1.08

Forward P/E

43.8381.34118.842020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 50.462020 Q2: 65.352020 Q3: 75.992020 Q4: 74.862021 Q1: 70.642021 Q2: 67.812021 Q3: 67.772021 Q4: 57.402022 Q1: 55.902022 Q2: 49.002022 Q3: 58.022022 Q4: 54.912023 Q1: 57.812023 Q2: 60.002023 Q3: 57.582023 Q4: 64.232024 Q1: 113.672024 Q2: 76.962024 Q3: 71.16

Divergence watch ⚑

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

  • 2020 Q2 tone ↑ +9.7 fwd EPS ↓ -0.05 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -3.3 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -6.2 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↓ -3.3 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-30+11.6——View →
2024 Q42025-02-18+14.1——View →
2024 Q32024-10-22+7.4$1.0871.2View →
2024 Q22024-07-23+10.7$0.9477.0View →
2024 Q12024-04-23+9.3$0.77113.7View →
2023 Q42024-03-04+7.7$1.3464.2View →
2023 Q32024-02-20+7.7$1.4157.6View →
2023 Q22023-07-25+9.2$1.3860.0View →