Subtext

Erie Indemnity Company ERIE

SectorFinancials
Transcripts21
Date range2020-05-08 – 2025-04-25
Calls charted21

Sentiment timeline

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

-23-11+0+11+232020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +1.12020 Q2 · Overall: +8.12020 Q3 · Overall: +10.12020 Q4 · Overall: +6.12021 Q1 · Overall: +17.52021 Q2 · Overall: +7.22021 Q3 · Overall: +7.72021 Q4 · Overall: +2.22022 Q1 · Overall: +5.42022 Q2 · Overall: +0.52022 Q3 · Overall: +3.22022 Q4 · Overall: -19.92023 Q1 · Overall: +1.12023 Q2 · Overall: +2.32023 Q3 · Overall: +7.72023 Q4 · Overall: +5.52024 Q1 · Overall: +2.82024 Q2 · Overall: +6.62024 Q3 · Overall: +7.92024 Q4 · Overall: +7.62025 Q1 · Overall: -3.2
Overall

CEO vs CFO

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

-55-27+0+27+552020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +3.82020 Q2 · CEO: +10.62020 Q3 · CEO: +11.52020 Q4 · CEO: +10.12021 Q1 · CEO: +31.72021 Q2 · CEO: +12.22021 Q3 · CEO: +16.22021 Q4 · CEO: +2.32022 Q1 · CEO: +11.22022 Q2 · CEO: +7.12022 Q3 · CEO: +13.42022 Q4 · CEO: -25.22023 Q1 · CEO: -0.92023 Q2 · CEO: +5.12023 Q3 · CEO: +21.42023 Q4 · CEO: +6.52024 Q1 · CEO: +0.02024 Q2 · CEO: +15.52024 Q3 · CEO: +9.82024 Q4 · CEO: +19.82025 Q1 · CEO: +8.52020 Q1 · CFO: -4.52020 Q2 · CFO: +7.32020 Q3 · CFO: +11.42020 Q4 · CFO: +1.52021 Q1 · CFO: +7.82021 Q2 · CFO: +3.02021 Q3 · CFO: -4.22021 Q4 · CFO: +5.42022 Q1 · CFO: +0.02022 Q2 · CFO: -5.42022 Q3 · CFO: -7.52022 Q4 · CFO: -47.62023 Q1 · CFO: +8.92023 Q2 · CFO: +2.22023 Q3 · CFO: -4.72023 Q4 · CFO: +7.82024 Q1 · CFO: +33.32024 Q2 · CFO: +1.22024 Q3 · CFO: +9.12024 Q4 · CFO: +1.22025 Q1 · CFO: -11.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-24-12+0+12+242020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +1.12020 Q2 · Prepared remarks: +8.42020 Q3 · Prepared remarks: +10.32020 Q4 · Prepared remarks: +6.22021 Q1 · Prepared remarks: +18.62021 Q2 · Prepared remarks: +6.82021 Q3 · Prepared remarks: +7.92021 Q4 · Prepared remarks: +2.22022 Q1 · Prepared remarks: +5.52022 Q2 · Prepared remarks: +0.52022 Q3 · Prepared remarks: +3.32022 Q4 · Prepared remarks: -21.12023 Q1 · Prepared remarks: +1.12023 Q2 · Prepared remarks: +2.42023 Q3 · Prepared remarks: +7.92023 Q4 · Prepared remarks: +5.62024 Q1 · Prepared remarks: +3.22024 Q2 · Prepared remarks: +6.82024 Q3 · Prepared remarks: +8.12024 Q4 · Prepared remarks: +7.82025 Q1 · Prepared remarks: -3.3
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

$5.16$9.31$13.452020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $6.372020 Q2: $5.742020 Q3: $5.872020 Q4: $5.932021 Q1: $6.072021 Q2: $5.942021 Q3: $6.032021 Q4: $6.062022 Q1: $6.172022 Q2: $6.262022 Q3: $6.372022 Q4: $6.772023 Q1: $6.792023 Q2: $7.452023 Q3: $8.252023 Q4: $9.432024 Q1: $10.012024 Q2: $10.462024 Q3: $12.88

Forward P/E

25.6434.2242.802020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 26.822020 Q2: 31.942020 Q3: 37.752020 Q4: 41.492021 Q1: 38.572021 Q2: 32.072021 Q3: 29.952021 Q4: 32.152022 Q1: 27.512022 Q2: 27.912022 Q3: 35.052022 Q4: 40.032023 Q1: 33.382023 Q2: 29.162023 Q3: 35.002023 Q4: 34.242024 Q1: 40.752024 Q2: 34.102024 Q3: 41.62

Divergence watch ⚑

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

  • 2020 Q2 tone ↑ +7.1 fwd EPS ↓ -0.63 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -4.0 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -4.9 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -23.1 fwd EPS ↑ +0.40 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -2.2 fwd EPS ↑ +1.18 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -2.7 fwd EPS ↑ +0.58 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-25-3.2——View →
2024 Q42025-02-28+7.6——View →
2024 Q32024-11-01+7.9$12.8841.6View →
2024 Q22024-07-26+6.6$10.4634.1View →
2024 Q12024-04-25+2.8$10.0140.8View →
2023 Q42024-02-27+5.5$9.4334.2View →
2023 Q32023-10-27+7.7$8.2535.0View →
2023 Q22023-07-28+2.3$7.4529.2View →