Subtext

Johnson & Johnson JNJ

SectorHealth Care
Transcripts72
Date range2007-07-17 – 2025-04-15
Calls charted71

Sentiment timeline

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

-21-11+0+11+212007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Overall: +6.92007 Q4 · Overall: +10.22008 Q1 · Overall: +4.12008 Q2 · Overall: +5.42008 Q3 · Overall: +11.22008 Q4 · Overall: +8.22009 Q1 · Overall: +2.52009 Q2 · Overall: +2.02009 Q3 · Overall: +6.92009 Q4 · Overall: +9.22010 Q1 · Overall: +10.42010 Q2 · Overall: -2.52010 Q3 · Overall: +5.02010 Q4 · Overall: +5.82011 Q1 · Overall: +2.82011 Q2 · Overall: +10.12011 Q3 · Overall: +3.62011 Q4 · Overall: +15.12012 Q1 · Overall: +0.52012 Q2 · Overall: +9.12012 Q3 · Overall: +11.02012 Q4 · Overall: +13.52013 Q1 · Overall: +3.42013 Q2 · Overall: +12.02013 Q3 · Overall: +13.22013 Q4 · Overall: +17.72014 Q1 · Overall: +3.12014 Q2 · Overall: +15.42014 Q3 · Overall: +3.52014 Q4 · Overall: +13.22015 Q1 · Overall: +5.32015 Q2 · Overall: +15.32015 Q3 · Overall: +9.62015 Q4 · Overall: +12.22016 Q1 · Overall: +6.72016 Q2 · Overall: +14.42016 Q3 · Overall: +13.62016 Q4 · Overall: +11.82017 Q1 · Overall: +1.02017 Q2 · Overall: +8.42017 Q3 · Overall: +4.72017 Q4 · Overall: +10.82018 Q1 · Overall: +12.32018 Q2 · Overall: +9.12018 Q3 · Overall: +12.92018 Q4 · Overall: +18.52019 Q1 · Overall: +8.52019 Q2 · Overall: +11.22019 Q3 · Overall: +11.12019 Q4 · Overall: +13.22020 Q1 · Overall: +3.62020 Q2 · Overall: +2.72020 Q3 · Overall: +6.42020 Q4 · Overall: +10.92021 Q1 · Overall: +7.32021 Q2 · Overall: +13.32021 Q3 · Overall: +5.22021 Q4 · Overall: +13.42022 Q1 · Overall: +8.02022 Q2 · Overall: +15.42022 Q3 · Overall: +8.22022 Q4 · Overall: +6.52023 Q1 · Overall: +9.32023 Q2 · Overall: +9.12023 Q3 · Overall: +6.92023 Q4 · Overall: +16.02024 Q1 · Overall: +13.32024 Q2 · Overall: +11.72024 Q3 · Overall: +10.82024 Q4 · Overall: +15.12025 Q1 · Overall: +11.1
Overall

CEO vs CFO

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

-47-23+0+23+472007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q4 · CEO: +14.02008 Q4 · CEO: +12.12009 Q4 · CEO: +11.82010 Q4 · CEO: +16.42011 Q4 · CEO: +24.72012 Q2 · CEO: +19.92012 Q4 · CEO: +13.62013 Q2 · CEO: +18.62013 Q4 · CEO: +21.52014 Q2 · CEO: +17.82014 Q4 · CEO: +20.42015 Q2 · CEO: +25.92015 Q4 · CEO: +23.52016 Q2 · CEO: +34.12016 Q4 · CEO: +17.02017 Q2 · CEO: +14.32017 Q4 · CEO: +27.62018 Q2 · CEO: +17.82018 Q4 · CEO: +25.22019 Q4 · CEO: +24.12020 Q1 · CEO: +8.12020 Q2 · CEO: +7.02020 Q4 · CEO: +19.82021 Q1 · CEO: +16.12021 Q4 · CEO: +27.92022 Q2 · CEO: +30.72022 Q4 · CEO: +17.52023 Q2 · CEO: +26.02023 Q3 · CEO: +24.82023 Q4 · CEO: +29.02024 Q1 · CEO: +22.82024 Q2 · CEO: +40.52024 Q3 · CEO: +39.22024 Q4 · CEO: +32.22025 Q1 · CEO: +14.02007 Q4 · CFO: +13.02008 Q1 · CFO: +7.22008 Q2 · CFO: +7.62008 Q3 · CFO: +14.52008 Q4 · CFO: +3.02009 Q1 · CFO: +2.92009 Q2 · CFO: +5.32009 Q3 · CFO: +4.42009 Q4 · CFO: +6.82010 Q1 · CFO: +13.82010 Q2 · CFO: +0.52010 Q3 · CFO: +9.92010 Q4 · CFO: +3.12011 Q1 · CFO: +6.82011 Q2 · CFO: +16.62011 Q3 · CFO: +10.02011 Q4 · CFO: +7.42012 Q1 · CFO: +6.42012 Q2 · CFO: +4.92012 Q3 · CFO: +5.52012 Q4 · CFO: +14.62013 Q1 · CFO: +6.82013 Q2 · CFO: +18.02013 Q3 · CFO: +16.32013 Q4 · CFO: +6.42014 Q1 · CFO: +8.22014 Q2 · CFO: +20.52014 Q3 · CFO: +7.52014 Q4 · CFO: +3.22015 Q1 · CFO: +9.62015 Q2 · CFO: +16.32015 Q3 · CFO: +7.12015 Q4 · CFO: +0.02016 Q1 · CFO: +0.02016 Q2 · CFO: +5.22016 Q3 · CFO: +12.32016 Q4 · CFO: +7.32017 Q1 · CFO: +3.22017 Q2 · CFO: +2.62017 Q3 · CFO: +8.52017 Q4 · CFO: +7.52018 Q1 · CFO: +19.12018 Q2 · CFO: +8.62018 Q3 · CFO: +17.22018 Q4 · CFO: +18.42019 Q1 · CFO: +14.72019 Q2 · CFO: +13.82019 Q3 · CFO: +9.72019 Q4 · CFO: +10.12020 Q1 · CFO: +1.82020 Q2 · CFO: +7.32020 Q3 · CFO: +14.82020 Q4 · CFO: +17.22021 Q1 · CFO: +12.62021 Q2 · CFO: +8.62021 Q3 · CFO: +10.22021 Q4 · CFO: +15.92022 Q1 · CFO: +15.32022 Q4 · CFO: +9.72023 Q1 · CFO: +11.22023 Q2 · CFO: +10.92023 Q3 · CFO: +13.92023 Q4 · CFO: +19.82024 Q1 · CFO: +13.32024 Q2 · CFO: +15.72024 Q3 · CFO: +11.72025 Q1 · CFO: +8.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-28-14+0+14+282007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22007 Q3 · Prepared remarks: +7.72007 Q4 · Prepared remarks: +10.52008 Q1 · Prepared remarks: +11.52008 Q2 · Prepared remarks: +10.52008 Q3 · Prepared remarks: +11.22008 Q4 · Prepared remarks: +8.22009 Q1 · Prepared remarks: +6.02009 Q2 · Prepared remarks: +6.02009 Q3 · Prepared remarks: +6.92009 Q4 · Prepared remarks: +9.22010 Q1 · Prepared remarks: +12.42010 Q2 · Prepared remarks: +0.82010 Q3 · Prepared remarks: +5.02010 Q4 · Prepared remarks: +5.82011 Q1 · Prepared remarks: +6.52011 Q2 · Prepared remarks: +15.62011 Q3 · Prepared remarks: +9.52011 Q4 · Prepared remarks: +15.12012 Q1 · Prepared remarks: +4.72012 Q2 · Prepared remarks: +11.62012 Q3 · Prepared remarks: +14.52012 Q4 · Prepared remarks: +13.52013 Q1 · Prepared remarks: +3.32013 Q2 · Prepared remarks: +16.92013 Q3 · Prepared remarks: +17.42013 Q4 · Prepared remarks: +17.72014 Q1 · Prepared remarks: +7.82014 Q2 · Prepared remarks: +24.72014 Q3 · Prepared remarks: +9.82014 Q4 · Prepared remarks: +16.02015 Q1 · Prepared remarks: +7.72015 Q2 · Prepared remarks: +19.02015 Q3 · Prepared remarks: +16.52015 Q4 · Prepared remarks: +17.52016 Q1 · Prepared remarks: +8.52016 Q2 · Prepared remarks: +18.82016 Q3 · Prepared remarks: +16.42016 Q4 · Prepared remarks: +16.72017 Q1 · Prepared remarks: +1.02017 Q2 · Prepared remarks: +12.02017 Q3 · Prepared remarks: +5.62017 Q4 · Prepared remarks: +17.32018 Q1 · Prepared remarks: +13.92018 Q2 · Prepared remarks: +15.62018 Q3 · Prepared remarks: +19.62018 Q4 · Prepared remarks: +22.62019 Q1 · Prepared remarks: +13.72019 Q2 · Prepared remarks: +14.32019 Q3 · Prepared remarks: +13.42019 Q4 · Prepared remarks: +14.82020 Q1 · Prepared remarks: +5.02020 Q2 · Prepared remarks: +1.92020 Q3 · Prepared remarks: +9.92020 Q4 · Prepared remarks: +11.42021 Q1 · Prepared remarks: +10.82021 Q2 · Prepared remarks: +21.12021 Q3 · Prepared remarks: +6.42021 Q4 · Prepared remarks: +14.12022 Q1 · Prepared remarks: +7.92022 Q2 · Prepared remarks: +15.02022 Q3 · Prepared remarks: +11.42022 Q4 · Prepared remarks: +9.52023 Q1 · Prepared remarks: +12.02023 Q2 · Prepared remarks: +10.52023 Q3 · Prepared remarks: +9.42023 Q4 · Prepared remarks: +18.42024 Q1 · Prepared remarks: +11.52024 Q2 · Prepared remarks: +14.92024 Q3 · Prepared remarks: +14.12024 Q4 · Prepared remarks: +15.32025 Q1 · Prepared remarks: +14.72008 Q1 · Q&A responses: +1.92008 Q2 · Q&A responses: +5.92009 Q1 · Q&A responses: +2.32009 Q2 · Q&A responses: +2.82010 Q1 · Q&A responses: +13.72010 Q2 · Q&A responses: -2.72011 Q1 · Q&A responses: +3.72011 Q2 · Q&A responses: +7.72011 Q3 · Q&A responses: +4.22012 Q1 · Q&A responses: +0.22012 Q2 · Q&A responses: +12.82012 Q3 · Q&A responses: +10.22013 Q1 · Q&A responses: +8.42013 Q2 · Q&A responses: +12.02013 Q3 · Q&A responses: +14.42014 Q1 · Q&A responses: +5.62014 Q2 · Q&A responses: +8.62014 Q3 · Q&A responses: +2.72014 Q4 · Q&A responses: +15.42015 Q1 · Q&A responses: +6.42015 Q2 · Q&A responses: +15.32015 Q3 · Q&A responses: +7.42015 Q4 · Q&A responses: +13.02016 Q1 · Q&A responses: +13.82016 Q2 · Q&A responses: +20.52016 Q3 · Q&A responses: +13.22016 Q4 · Q&A responses: +10.72017 Q1 · Q&A responses: +5.82017 Q2 · Q&A responses: +10.02017 Q3 · Q&A responses: +8.52017 Q4 · Q&A responses: +6.22018 Q1 · Q&A responses: +14.72018 Q2 · Q&A responses: +8.62018 Q3 · Q&A responses: +18.22018 Q4 · Q&A responses: +17.72019 Q1 · Q&A responses: +13.02019 Q2 · Q&A responses: +15.02019 Q3 · Q&A responses: +14.32019 Q4 · Q&A responses: +16.42020 Q1 · Q&A responses: +3.92020 Q2 · Q&A responses: +8.72020 Q3 · Q&A responses: +5.82020 Q4 · Q&A responses: +15.72021 Q1 · Q&A responses: +10.32021 Q2 · Q&A responses: +9.92021 Q3 · Q&A responses: +10.22021 Q4 · Q&A responses: +18.52022 Q1 · Q&A responses: +13.02022 Q2 · Q&A responses: +21.12022 Q3 · Q&A responses: +10.32022 Q4 · Q&A responses: +10.12023 Q1 · Q&A responses: +10.22023 Q2 · Q&A responses: +13.82023 Q3 · Q&A responses: +8.42023 Q4 · Q&A responses: +23.32024 Q1 · Q&A responses: +19.32024 Q2 · Q&A responses: +14.92024 Q3 · Q&A responses: +13.72024 Q4 · Q&A responses: +21.42025 Q1 · Q&A responses: +14.8
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

$5.55$8.39$11.232007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: $5.942014 Q2: $6.112014 Q3: $6.242014 Q4: $6.182015 Q1: $6.272015 Q2: $6.282015 Q3: $6.342015 Q4: $6.422016 Q1: $6.612016 Q2: $6.802016 Q3: $7.002016 Q4: $7.142017 Q1: $7.132017 Q2: $7.392017 Q3: $7.592017 Q4: $7.862018 Q1: $8.212018 Q2: $8.352018 Q3: $8.512018 Q4: $8.622019 Q1: $8.712019 Q2: $8.882019 Q3: $9.002019 Q4: $9.102020 Q1: $9.162020 Q2: $8.382020 Q3: $8.732020 Q4: $8.992021 Q1: $9.702021 Q2: $9.982021 Q3: $10.242021 Q4: $10.392022 Q1: $10.662022 Q2: $10.582022 Q3: $10.462022 Q4: $10.402023 Q1: $10.612023 Q2: $10.842023 Q3: $10.682023 Q4: $10.682024 Q1: $10.762024 Q2: $10.782024 Q3: $10.552024 Q4: $10.59

Forward P/E

13.1515.8518.552007 Q32009 Q42012 Q12014 Q22016 Q32018 Q42021 Q12023 Q22014 Q1: 15.752014 Q2: 16.842014 Q3: 17.012014 Q4: 16.842015 Q1: 16.192015 Q2: 15.722015 Q3: 14.922015 Q4: 16.392016 Q1: 16.252016 Q2: 17.112016 Q3: 16.832016 Q4: 16.112017 Q1: 18.092017 Q2: 17.972017 Q3: 17.442017 Q4: 18.182018 Q1: 16.122018 Q2: 14.692018 Q3: 16.512018 Q4: 14.802019 Q1: 16.012019 Q2: 15.832019 Q3: 14.492019 Q4: 15.742020 Q1: 14.732020 Q2: 17.182020 Q3: 16.992020 Q4: 16.652021 Q1: 16.572021 Q2: 16.472021 Q3: 16.162021 Q4: 16.472022 Q1: 16.382022 Q2: 16.072022 Q3: 15.742022 Q4: 17.282023 Q1: 14.552023 Q2: 14.912023 Q3: 15.352023 Q4: 14.592024 Q1: 14.982024 Q2: 13.522024 Q3: 15.752024 Q4: 13.67

Divergence watch ⚑

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

  • 2014 Q3 tone ↓ -11.9 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q4 tone ↑ +9.7 fwd EPS ↓ -0.06 Tone rose while the forward EPS estimate was cut.
  • 2015 Q1 tone ↓ -7.9 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q1 tone ↓ -5.4 fwd EPS ↑ +0.19 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -3.7 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -3.2 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -3.6 fwd EPS ↑ +0.71 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -8.1 fwd EPS ↑ +0.25 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -5.4 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-15+11.1——View →
2024 Q42025-01-22+15.1$10.5913.7View →
2024 Q32024-10-15+10.8$10.5515.8View →
2024 Q22024-07-17+11.7$10.7813.5View →
2024 Q12024-04-16+13.3$10.7615.0View →
2023 Q42024-01-23+16.0$10.6814.6View →
2023 Q32023-10-17+6.9$10.6815.3View →
2023 Q22023-07-20+9.1$10.8414.9View →