Subtext

Howmet Aerospace Inc. HWM

SectorIndustrials
Transcripts21
Date range2020-05-05 – 2025-05-01
Calls charted21

Sentiment timeline

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

-17-9+0+9+172020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +3.92020 Q2 · Overall: -2.02020 Q3 · Overall: +6.92020 Q4 · Overall: +7.42021 Q1 · Overall: +2.72021 Q2 · Overall: +4.92021 Q3 · Overall: +4.22021 Q4 · Overall: +6.82022 Q1 · Overall: +9.22022 Q2 · Overall: +7.92022 Q3 · Overall: +4.82022 Q4 · Overall: +11.42023 Q1 · Overall: +10.52023 Q2 · Overall: +10.62023 Q3 · Overall: +15.12023 Q4 · Overall: +10.82024 Q1 · Overall: +4.92024 Q2 · Overall: +9.12024 Q3 · Overall: +8.02024 Q4 · Overall: +9.02025 Q1 · Overall: +7.2
Overall

CEO vs CFO

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

-38-19+0+19+382020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +3.22020 Q2 · CEO: -0.82020 Q3 · CEO: +9.72020 Q4 · CEO: +5.92021 Q1 · CEO: +5.42021 Q2 · CEO: +6.72021 Q3 · CEO: +5.22021 Q4 · CEO: +7.72022 Q1 · CEO: +8.02022 Q2 · CEO: +10.62022 Q3 · CEO: +7.02022 Q4 · CEO: +13.72023 Q1 · CEO: +10.92023 Q2 · CEO: +14.12023 Q3 · CEO: +16.52023 Q4 · CEO: +11.22024 Q1 · CEO: +10.02024 Q2 · CEO: +10.12024 Q3 · CEO: +6.22024 Q4 · CEO: +10.32025 Q1 · CEO: +5.12020 Q1 · CFO: +12.92020 Q2 · CFO: -5.32020 Q3 · CFO: +6.92020 Q4 · CFO: +9.42021 Q1 · CFO: +4.52021 Q2 · CFO: -4.12021 Q3 · CFO: +10.32021 Q4 · CFO: +6.92022 Q1 · CFO: +14.52022 Q2 · CFO: +9.82022 Q3 · CFO: +7.42022 Q4 · CFO: +10.02023 Q1 · CFO: +12.42023 Q2 · CFO: +10.72023 Q3 · CFO: +21.52023 Q4 · CFO: +16.12024 Q1 · CFO: +32.62024 Q2 · CFO: +23.82024 Q3 · CFO: +18.72024 Q4 · CFO: +12.62025 Q1 · CFO: +20.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-36-18+0+18+362020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +5.42020 Q2 · Prepared remarks: -7.22020 Q3 · Prepared remarks: +5.22020 Q4 · Prepared remarks: +7.92021 Q1 · Prepared remarks: +8.72021 Q2 · Prepared remarks: +9.52021 Q3 · Prepared remarks: +8.82021 Q4 · Prepared remarks: +8.62022 Q1 · Prepared remarks: +16.92022 Q2 · Prepared remarks: +16.32022 Q3 · Prepared remarks: +7.12022 Q4 · Prepared remarks: +14.82023 Q1 · Prepared remarks: +12.92023 Q2 · Prepared remarks: +13.02023 Q3 · Prepared remarks: +22.92023 Q4 · Prepared remarks: +17.82024 Q1 · Prepared remarks: +31.42024 Q2 · Prepared remarks: +12.82024 Q3 · Prepared remarks: +10.62024 Q4 · Prepared remarks: +8.52025 Q1 · Prepared remarks: +14.12020 Q1 · Q&A responses: +4.72020 Q2 · Q&A responses: +2.22020 Q3 · Q&A responses: +11.72020 Q4 · Q&A responses: +5.82021 Q1 · Q&A responses: +3.72021 Q2 · Q&A responses: +3.12021 Q3 · Q&A responses: +4.42021 Q4 · Q&A responses: +6.72022 Q1 · Q&A responses: +6.12022 Q2 · Q&A responses: +6.42022 Q3 · Q&A responses: +6.82022 Q4 · Q&A responses: +11.02023 Q1 · Q&A responses: +9.72023 Q2 · Q&A responses: +12.22023 Q3 · Q&A responses: +14.42023 Q4 · Q&A responses: +7.12024 Q1 · Q&A responses: +7.62024 Q2 · Q&A responses: +11.42024 Q3 · Q&A responses: +7.32024 Q4 · Q&A responses: +12.02025 Q1 · Q&A responses: +4.0
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

$0.60$1.89$3.172020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $2.462020 Q2: $1.122020 Q3: $0.782020 Q4: $0.912021 Q1: $1.042021 Q2: $1.222021 Q3: $1.362021 Q4: $1.402022 Q1: $1.512022 Q2: $1.642022 Q3: $1.742022 Q4: $1.732023 Q1: $1.732023 Q2: $1.902023 Q3: $2.022023 Q4: $2.152024 Q1: $2.332024 Q2: $2.652024 Q3: $3.00

Forward P/E

4.3618.9933.632020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 6.382020 Q2: 13.162020 Q3: 24.082020 Q4: 29.482021 Q1: 31.002021 Q2: 28.632021 Q3: 23.492021 Q4: 21.422022 Q1: 23.132022 Q2: 20.012022 Q3: 20.362022 Q4: 22.542023 Q1: 22.802023 Q2: 24.122023 Q3: 23.282023 Q4: 25.212024 Q1: 28.202024 Q2: 30.262024 Q3: 31.61

Divergence watch ⚑

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

  • 2020 Q3 tone ↑ +8.8 fwd EPS ↓ -0.34 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↓ -4.7 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -3.0 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -4.3 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -5.9 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+7.2——View →
2024 Q42025-02-13+9.0——View →
2024 Q32024-11-06+8.0$3.0031.6View →
2024 Q22024-07-30+9.1$2.6530.3View →
2024 Q12024-05-02+4.9$2.3328.2View →
2023 Q42024-02-13+10.8$2.1525.2View →
2023 Q32023-11-02+15.1$2.0223.3View →
2023 Q22023-08-01+10.6$1.9024.1View →