Subtext

Kellanova K

SectorConsumer Staples
Transcripts72
Date range2005-10-31 – 2024-08-01
Calls charted71

Sentiment timeline

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

-26-13+0+13+262005 Q32009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32005 Q3 · Overall: +15.02006 Q4 · Overall: +22.72007 Q2 · Overall: +16.12007 Q3 · Overall: +12.22007 Q4 · Overall: +14.22008 Q1 · Overall: +18.52008 Q2 · Overall: +9.92008 Q3 · Overall: +6.62008 Q4 · Overall: +3.62009 Q1 · Overall: +6.92009 Q2 · Overall: +8.42009 Q3 · Overall: +9.32009 Q4 · Overall: +6.62010 Q1 · Overall: +6.72010 Q2 · Overall: -3.92010 Q3 · Overall: +3.32010 Q4 · Overall: +10.02011 Q1 · Overall: +11.82011 Q2 · Overall: +10.72011 Q3 · Overall: +8.82011 Q4 · Overall: +7.82012 Q1 · Overall: +7.22012 Q2 · Overall: +21.12012 Q3 · Overall: +21.62012 Q4 · Overall: +16.82013 Q1 · Overall: +15.22013 Q2 · Overall: +13.52013 Q3 · Overall: +13.82013 Q4 · Overall: +9.62014 Q1 · Overall: +9.72014 Q2 · Overall: +13.02014 Q3 · Overall: +11.92014 Q4 · Overall: +7.72015 Q1 · Overall: +21.52015 Q2 · Overall: +13.12015 Q3 · Overall: +13.02015 Q4 · Overall: +19.32016 Q1 · Overall: +17.12016 Q2 · Overall: +14.72016 Q3 · Overall: +18.42016 Q4 · Overall: +11.72017 Q1 · Overall: +10.12017 Q2 · Overall: +14.22017 Q3 · Overall: +18.62017 Q4 · Overall: +19.52018 Q1 · Overall: +18.12018 Q2 · Overall: +15.12018 Q3 · Overall: +10.32018 Q4 · Overall: +13.32019 Q1 · Overall: +7.82019 Q2 · Overall: +11.62019 Q3 · Overall: +14.82019 Q4 · Overall: +10.62020 Q1 · Overall: -2.32020 Q2 · Overall: +2.52020 Q3 · Overall: +4.62020 Q4 · Overall: +7.32021 Q1 · Overall: +13.22021 Q2 · Overall: +3.92021 Q3 · Overall: +4.42021 Q4 · Overall: +3.92022 Q1 · Overall: +7.32022 Q2 · Overall: +7.62022 Q3 · Overall: +4.52022 Q4 · Overall: +10.82023 Q1 · Overall: +9.82023 Q2 · Overall: +7.12023 Q3 · Overall: +6.52023 Q4 · Overall: +8.42024 Q1 · Overall: +12.32024 Q2 · Overall: +14.8
Overall

CEO vs CFO

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

-52-26+0+26+522005 Q32009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32005 Q3 · CEO: +26.22006 Q4 · CEO: +30.32007 Q2 · CEO: +28.72007 Q3 · CEO: +24.02007 Q4 · CEO: +26.32008 Q1 · CEO: +29.12008 Q2 · CEO: +20.22008 Q3 · CEO: +13.62008 Q4 · CEO: +9.92009 Q1 · CEO: +14.42009 Q2 · CEO: +14.82009 Q4 · CEO: +11.92010 Q1 · CEO: +16.32010 Q2 · CEO: +6.62010 Q3 · CEO: +9.92010 Q4 · CEO: +26.12011 Q1 · CEO: +23.22011 Q2 · CEO: +25.32011 Q3 · CEO: +20.52011 Q4 · CEO: +16.12012 Q1 · CEO: +16.82012 Q2 · CEO: +29.02012 Q3 · CEO: +34.12012 Q4 · CEO: +33.82013 Q1 · CEO: +29.72013 Q2 · CEO: +23.52013 Q3 · CEO: +23.12013 Q4 · CEO: +17.72014 Q1 · CEO: +15.82014 Q2 · CEO: +19.02014 Q3 · CEO: +16.12014 Q4 · CEO: +14.92015 Q2 · CEO: +24.52015 Q3 · CEO: +26.02015 Q4 · CEO: +32.92016 Q1 · CEO: +24.82016 Q2 · CEO: +27.22016 Q3 · CEO: +21.52016 Q4 · CEO: +20.92017 Q1 · CEO: +16.82017 Q2 · CEO: +25.62017 Q3 · CEO: +45.02017 Q4 · CEO: +24.72018 Q1 · CEO: +28.22018 Q2 · CEO: +24.92018 Q3 · CEO: +19.72018 Q4 · CEO: +24.32019 Q1 · CEO: +20.02019 Q2 · CEO: +26.22019 Q3 · CEO: +28.62019 Q4 · CEO: +21.02020 Q1 · CEO: +1.22020 Q2 · CEO: +5.52020 Q3 · CEO: +9.32020 Q4 · CEO: +15.22021 Q1 · CEO: +22.22021 Q2 · CEO: +9.12021 Q3 · CEO: +12.72021 Q4 · CEO: +12.02022 Q1 · CEO: +18.02022 Q2 · CEO: +23.22022 Q3 · CEO: +13.42022 Q4 · CEO: +20.12023 Q1 · CEO: +13.72023 Q2 · CEO: +17.02023 Q3 · CEO: +16.32023 Q4 · CEO: +13.02024 Q1 · CEO: +15.92024 Q2 · CEO: +19.62005 Q3 · CFO: +13.12006 Q4 · CFO: +22.42007 Q2 · CFO: +18.02007 Q3 · CFO: +12.92007 Q4 · CFO: +13.82008 Q1 · CFO: +16.32008 Q2 · CFO: +10.92009 Q3 · CFO: +11.92009 Q4 · CFO: +5.62010 Q1 · CFO: +7.62010 Q2 · CFO: -18.52010 Q3 · CFO: -9.72010 Q4 · CFO: -6.22011 Q1 · CFO: +9.12011 Q2 · CFO: +7.92011 Q3 · CFO: +5.42011 Q4 · CFO: +11.72012 Q1 · CFO: +4.42012 Q2 · CFO: +13.12012 Q3 · CFO: +11.82012 Q4 · CFO: +4.02013 Q1 · CFO: +9.02013 Q2 · CFO: +7.22013 Q3 · CFO: +8.92013 Q4 · CFO: +2.22014 Q1 · CFO: +8.62014 Q2 · CFO: +10.42014 Q3 · CFO: +7.72014 Q4 · CFO: +1.72015 Q1 · CFO: +6.82015 Q3 · CFO: +34.02016 Q3 · CFO: +9.32016 Q4 · CFO: +1.62017 Q1 · CFO: +2.32017 Q2 · CFO: +4.12017 Q3 · CFO: +6.62017 Q4 · CFO: +16.72018 Q1 · CFO: +8.92018 Q2 · CFO: +10.92018 Q3 · CFO: +5.72018 Q4 · CFO: +6.32019 Q1 · CFO: +0.92019 Q2 · CFO: -3.82019 Q3 · CFO: -4.92019 Q4 · CFO: -2.62020 Q1 · CFO: -9.42020 Q2 · CFO: +2.12020 Q3 · CFO: +3.32020 Q4 · CFO: -4.52021 Q1 · CFO: +8.72021 Q2 · CFO: +3.42021 Q3 · CFO: -1.12021 Q4 · CFO: -7.32022 Q1 · CFO: -1.72022 Q2 · CFO: -5.72022 Q3 · CFO: +1.02022 Q4 · CFO: +4.22023 Q1 · CFO: +8.32023 Q2 · CFO: -0.42023 Q3 · CFO: +4.62023 Q4 · CFO: +7.12024 Q1 · CFO: +11.82024 Q2 · CFO: +11.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-38-19+0+19+382005 Q32009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32005 Q3 · Prepared remarks: +28.22006 Q4 · Prepared remarks: +24.92007 Q2 · Prepared remarks: +33.12007 Q3 · Prepared remarks: +19.02007 Q4 · Prepared remarks: +26.92008 Q1 · Prepared remarks: +33.32008 Q2 · Prepared remarks: +26.02008 Q3 · Prepared remarks: +21.82008 Q4 · Prepared remarks: +14.22009 Q1 · Prepared remarks: +10.42009 Q2 · Prepared remarks: +16.62009 Q3 · Prepared remarks: +19.52009 Q4 · Prepared remarks: +15.62010 Q1 · Prepared remarks: +15.22010 Q2 · Prepared remarks: -12.52010 Q3 · Prepared remarks: +5.52010 Q4 · Prepared remarks: +17.12011 Q1 · Prepared remarks: +26.62011 Q2 · Prepared remarks: +28.42011 Q3 · Prepared remarks: +18.92011 Q4 · Prepared remarks: +21.92012 Q1 · Prepared remarks: +7.72012 Q2 · Prepared remarks: +30.82012 Q3 · Prepared remarks: +28.12012 Q4 · Prepared remarks: +25.82013 Q1 · Prepared remarks: +27.82013 Q2 · Prepared remarks: +16.72013 Q3 · Prepared remarks: +22.72013 Q4 · Prepared remarks: +13.52014 Q1 · Prepared remarks: +17.22014 Q2 · Prepared remarks: +15.62014 Q3 · Prepared remarks: +18.82014 Q4 · Prepared remarks: +11.62015 Q1 · Prepared remarks: +24.92015 Q2 · Prepared remarks: +19.22015 Q3 · Prepared remarks: +20.92015 Q4 · Prepared remarks: +28.32016 Q1 · Prepared remarks: +22.52016 Q2 · Prepared remarks: +18.92016 Q3 · Prepared remarks: +24.32016 Q4 · Prepared remarks: +13.92017 Q1 · Prepared remarks: +19.72017 Q2 · Prepared remarks: +18.92017 Q3 · Prepared remarks: +21.32017 Q4 · Prepared remarks: +20.22018 Q1 · Prepared remarks: +22.92018 Q2 · Prepared remarks: +21.72018 Q3 · Prepared remarks: +18.52018 Q4 · Prepared remarks: +16.32019 Q1 · Prepared remarks: +12.82019 Q2 · Prepared remarks: +10.52019 Q3 · Prepared remarks: +14.82019 Q4 · Prepared remarks: +11.32020 Q1 · Prepared remarks: -3.42020 Q2 · Prepared remarks: -0.62020 Q3 · Prepared remarks: +7.92020 Q4 · Prepared remarks: +8.22021 Q1 · Prepared remarks: +21.32021 Q2 · Prepared remarks: +10.82021 Q3 · Prepared remarks: +7.92021 Q4 · Prepared remarks: +0.82022 Q1 · Prepared remarks: +10.32022 Q2 · Prepared remarks: +10.62022 Q3 · Prepared remarks: +5.82022 Q4 · Prepared remarks: +11.42023 Q1 · Prepared remarks: +13.52023 Q2 · Prepared remarks: +13.22023 Q3 · Prepared remarks: +12.02023 Q4 · Prepared remarks: +8.92024 Q1 · Prepared remarks: +13.32024 Q2 · Prepared remarks: +20.02005 Q3 · Q&A responses: +11.12006 Q4 · Q&A responses: +32.22007 Q2 · Q&A responses: +14.42007 Q3 · Q&A responses: +8.62007 Q4 · Q&A responses: +13.12008 Q1 · Q&A responses: +15.32008 Q2 · Q&A responses: +7.32008 Q3 · Q&A responses: -2.12008 Q4 · Q&A responses: -1.22009 Q1 · Q&A responses: +11.22009 Q2 · Q&A responses: +9.72009 Q3 · Q&A responses: +9.72009 Q4 · Q&A responses: +4.72010 Q1 · Q&A responses: +10.02010 Q2 · Q&A responses: +8.52010 Q3 · Q&A responses: +6.32010 Q4 · Q&A responses: +15.72011 Q1 · Q&A responses: +11.22011 Q2 · Q&A responses: +8.12011 Q3 · Q&A responses: +7.92011 Q4 · Q&A responses: -0.32012 Q1 · Q&A responses: +0.02012 Q2 · Q&A responses: +17.22012 Q3 · Q&A responses: +24.72012 Q4 · Q&A responses: +14.42013 Q1 · Q&A responses: +7.72013 Q2 · Q&A responses: +16.22013 Q3 · Q&A responses: +13.82013 Q4 · Q&A responses: +10.92014 Q1 · Q&A responses: +8.52014 Q2 · Q&A responses: +16.72014 Q3 · Q&A responses: +9.02014 Q4 · Q&A responses: +9.42015 Q1 · Q&A responses: +25.02015 Q2 · Q&A responses: +12.32015 Q3 · Q&A responses: +16.72015 Q4 · Q&A responses: +18.42016 Q1 · Q&A responses: +14.42016 Q2 · Q&A responses: +16.92016 Q3 · Q&A responses: +17.12016 Q4 · Q&A responses: +12.62017 Q1 · Q&A responses: +6.72017 Q2 · Q&A responses: +14.22017 Q3 · Q&A responses: +23.82017 Q4 · Q&A responses: +25.72018 Q1 · Q&A responses: +17.32018 Q2 · Q&A responses: +13.32018 Q3 · Q&A responses: +5.42018 Q4 · Q&A responses: +14.32019 Q1 · Q&A responses: +5.32019 Q2 · Q&A responses: +22.02019 Q3 · Q&A responses: +16.62019 Q4 · Q&A responses: +16.42020 Q1 · Q&A responses: +1.42020 Q2 · Q&A responses: +15.22020 Q3 · Q&A responses: +5.62020 Q4 · Q&A responses: +9.32021 Q1 · Q&A responses: +8.72021 Q2 · Q&A responses: +0.02021 Q3 · Q&A responses: +7.02021 Q4 · Q&A responses: +9.42022 Q1 · Q&A responses: +12.32022 Q2 · Q&A responses: +11.12022 Q3 · Q&A responses: +10.12022 Q4 · Q&A responses: +17.22023 Q1 · Q&A responses: +6.82023 Q2 · Q&A responses: +2.42023 Q3 · Q&A responses: +7.42023 Q4 · Q&A responses: +9.72024 Q1 · Q&A responses: +15.32024 Q2 · Q&A responses: +12.4
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

$3.50$4.12$4.742005 Q32009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32014 Q1: $4.062014 Q2: $4.122014 Q3: $4.062014 Q4: $4.052015 Q1: $3.692015 Q2: $3.652015 Q3: $3.702015 Q4: $3.692016 Q1: $3.772016 Q2: $3.842016 Q3: $3.922016 Q4: $3.982017 Q1: $4.042017 Q2: $4.072017 Q3: $4.172017 Q4: $4.252018 Q1: $4.512018 Q2: $4.582018 Q3: $4.662018 Q4: $4.312019 Q1: $4.072019 Q2: $3.952019 Q3: $3.982019 Q4: $4.022020 Q1: $3.852020 Q2: $3.842020 Q3: $3.962020 Q4: $4.002021 Q1: $4.052021 Q2: $4.132021 Q3: $4.172021 Q4: $4.162022 Q1: $4.152022 Q2: $4.212022 Q3: $4.252022 Q4: $4.152023 Q1: $4.092023 Q2: $4.212023 Q3: $4.242023 Q4: $3.592024 Q1: $3.642024 Q2: $3.73

Forward P/E

12.6416.6220.612005 Q32009 Q12011 Q22013 Q32015 Q42018 Q12020 Q22022 Q32014 Q1: 15.202014 Q2: 16.222014 Q3: 15.462014 Q4: 16.012015 Q1: 17.092015 Q2: 17.192015 Q3: 18.482015 Q4: 19.502016 Q1: 20.062016 Q2: 19.872016 Q3: 19.932016 Q4: 18.372017 Q1: 18.502017 Q2: 18.082017 Q3: 16.282017 Q4: 15.492018 Q1: 15.312018 Q2: 14.382018 Q3: 15.552018 Q4: 13.622019 Q1: 13.192019 Q2: 13.942019 Q3: 15.962019 Q4: 16.542020 Q1: 17.892020 Q2: 17.472020 Q3: 16.162020 Q4: 15.382021 Q1: 14.922021 Q2: 15.672021 Q3: 15.312021 Q4: 15.262022 Q1: 14.692022 Q2: 16.122022 Q3: 16.592022 Q4: 17.762023 Q1: 15.942023 Q2: 15.712023 Q3: 13.902023 Q4: 15.402024 Q1: 14.852024 Q2: 15.76

Divergence watch ⚑

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

  • 2015 Q1 tone ↑ +13.8 fwd EPS ↓ -0.36 Tone rose while the forward EPS estimate was cut.
  • 2016 Q1 tone ↓ -2.2 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -2.4 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -6.7 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -3.0 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -4.8 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↑ +3.0 fwd EPS ↓ -0.35 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↑ +3.8 fwd EPS ↓ -0.12 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↓ -9.3 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -3.1 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↑ +6.2 fwd EPS ↓ -0.10 Tone rose while the forward EPS estimate was cut.
  • 2023 Q2 tone ↓ -2.7 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2024 Q22024-08-01+14.8$3.7315.8View →
2024 Q12024-05-02+12.3$3.6414.8View →
2023 Q42024-02-08+8.4$3.5915.4View →
2023 Q32023-11-08+6.5$4.2413.9View →
2023 Q22023-08-03+7.1$4.2115.7View →
2023 Q12023-05-04+9.8$4.0915.9View →
2022 Q42023-02-09+10.8$4.1517.8View →
2022 Q32022-11-03+4.5$4.2516.6View →