Subtext

Keurig Dr Pepper Inc. KDP

SectorConsumer Staples
Transcripts21
Date range2020-04-27 – 2025-04-24
Calls charted21

Sentiment timeline

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

-27-14+0+14+272020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +3.62020 Q2 · Overall: +12.62020 Q3 · Overall: +7.62020 Q4 · Overall: +16.62021 Q1 · Overall: +13.52021 Q2 · Overall: +8.62021 Q3 · Overall: +10.02021 Q4 · Overall: +7.92022 Q1 · Overall: +10.22022 Q2 · Overall: +10.12022 Q3 · Overall: +10.72022 Q4 · Overall: +15.72023 Q1 · Overall: +5.12023 Q2 · Overall: +17.82023 Q3 · Overall: +14.72023 Q4 · Overall: +18.92024 Q1 · Overall: +10.22024 Q2 · Overall: +21.22024 Q3 · Overall: +20.52024 Q4 · Overall: +23.82025 Q1 · Overall: +13.3
Overall

CEO vs CFO

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

-36-18+0+18+362020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +5.72020 Q2 · CEO: +15.62020 Q3 · CEO: +9.32020 Q4 · CEO: +21.42021 Q1 · CEO: +15.52021 Q2 · CEO: +8.12021 Q3 · CEO: +15.92021 Q4 · CEO: +10.82022 Q1 · CEO: +14.82022 Q2 · CEO: +10.92022 Q3 · CEO: +13.42022 Q4 · CEO: +14.32023 Q1 · CEO: +9.82023 Q2 · CEO: +19.92023 Q3 · CEO: +21.42023 Q4 · CEO: +20.82024 Q2 · CEO: +24.32024 Q3 · CEO: +22.92025 Q1 · CEO: +19.42020 Q1 · CFO: +3.72020 Q2 · CFO: +12.12020 Q3 · CFO: +10.92021 Q1 · CFO: +14.22021 Q2 · CFO: +15.42021 Q3 · CFO: +11.12021 Q4 · CFO: +7.22022 Q1 · CFO: +12.02022 Q2 · CFO: +20.22022 Q3 · CFO: +27.32022 Q4 · CFO: +28.52023 Q1 · CFO: +9.82023 Q2 · CFO: +25.82023 Q3 · CFO: +13.22024 Q4 · CFO: +31.4
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-39-19+0+19+392020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +3.82020 Q2 · Prepared remarks: +11.52020 Q3 · Prepared remarks: +13.82020 Q4 · Prepared remarks: +22.62021 Q1 · Prepared remarks: +15.52021 Q2 · Prepared remarks: +9.92021 Q3 · Prepared remarks: +22.12021 Q4 · Prepared remarks: +8.92022 Q1 · Prepared remarks: +14.72022 Q2 · Prepared remarks: +25.92022 Q3 · Prepared remarks: +24.02022 Q4 · Prepared remarks: +23.22023 Q1 · Prepared remarks: +15.92023 Q2 · Prepared remarks: +26.72023 Q3 · Prepared remarks: +23.32023 Q4 · Prepared remarks: +21.62024 Q1 · Prepared remarks: +33.92024 Q2 · Prepared remarks: +29.02024 Q3 · Prepared remarks: +29.62024 Q4 · Prepared remarks: +33.62025 Q1 · Prepared remarks: +23.72020 Q1 · Q&A responses: +5.92020 Q2 · Q&A responses: +16.12020 Q3 · Q&A responses: +5.72020 Q4 · Q&A responses: +17.62021 Q1 · Q&A responses: +12.32021 Q2 · Q&A responses: +9.22021 Q3 · Q&A responses: +7.42021 Q4 · Q&A responses: +9.12022 Q1 · Q&A responses: +11.22022 Q2 · Q&A responses: +4.32022 Q3 · Q&A responses: +9.12022 Q4 · Q&A responses: +9.12023 Q1 · Q&A responses: -0.72023 Q2 · Q&A responses: +12.12023 Q3 · Q&A responses: +11.02023 Q4 · Q&A responses: +22.02024 Q1 · Q&A responses: +5.32024 Q2 · Q&A responses: +14.12024 Q3 · Q&A responses: +11.02024 Q4 · Q&A responses: +17.02025 Q1 · Q&A responses: +9.3
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

$1.40$1.74$2.082020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $1.442020 Q2: $1.472020 Q3: $1.542020 Q4: $1.602021 Q1: $1.642021 Q2: $1.682021 Q3: $1.722021 Q4: $1.702022 Q1: $1.732022 Q2: $1.762022 Q3: $1.812022 Q4: $1.822023 Q1: $1.822023 Q2: $1.852023 Q3: $1.892023 Q4: $1.912024 Q1: $1.952024 Q2: $2.002024 Q3: $2.03

Forward P/E

13.1717.7622.352020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 13.802020 Q2: 19.552020 Q3: 18.432020 Q4: 19.152021 Q1: 20.762021 Q2: 20.442021 Q3: 20.592021 Q4: 20.972022 Q1: 21.722022 Q2: 19.752022 Q3: 20.852022 Q4: 20.522023 Q1: 19.162023 Q2: 17.172023 Q3: 17.582023 Q4: 17.402024 Q1: 14.862024 Q2: 17.292024 Q3: 18.45

Divergence watch ⚑

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

  • 2020 Q3 tone ↓ -5.0 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -3.0 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -4.9 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -3.1 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -8.6 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-24+13.3——View →
2024 Q42025-02-25+23.8——View →
2024 Q32024-10-24+20.5$2.0318.4View →
2024 Q22024-07-25+21.2$2.0017.3View →
2024 Q12024-04-25+10.2$1.9514.9View →
2023 Q42024-02-22+18.9$1.9117.4View →
2023 Q32023-10-26+14.7$1.8917.6View →
2023 Q22023-07-27+17.8$1.8517.2View →