Subtext

The Coca-Cola Company KO

SectorConsumer Staples
Transcripts75
Date range2006-10-19 – 2025-04-29
Calls charted74

Sentiment timeline

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

-27-14+0+14+272006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22006 Q3 · Overall: +11.22006 Q4 · Overall: +11.92007 Q1 · Overall: +18.32007 Q3 · Overall: +19.42007 Q4 · Overall: +23.92008 Q1 · Overall: +16.42008 Q2 · Overall: +10.52008 Q3 · Overall: +13.72008 Q4 · Overall: +14.62009 Q1 · Overall: +17.22009 Q2 · Overall: +16.12009 Q3 · Overall: +9.92009 Q4 · Overall: +10.92010 Q1 · Overall: +19.02010 Q2 · Overall: +21.22010 Q3 · Overall: +17.72010 Q4 · Overall: +19.42011 Q1 · Overall: +15.42011 Q2 · Overall: +14.82011 Q3 · Overall: +10.62011 Q4 · Overall: +16.42012 Q1 · Overall: +18.82012 Q2 · Overall: +10.52012 Q3 · Overall: +16.42012 Q4 · Overall: +12.92013 Q1 · Overall: +21.72013 Q2 · Overall: +13.72013 Q3 · Overall: +8.42013 Q4 · Overall: +14.82014 Q1 · Overall: +22.42014 Q2 · Overall: +20.32014 Q3 · Overall: +10.12014 Q4 · Overall: +4.62015 Q1 · Overall: +8.92015 Q2 · Overall: +13.02015 Q3 · Overall: +10.92015 Q4 · Overall: +13.32016 Q1 · Overall: +10.42016 Q2 · Overall: +5.82016 Q3 · Overall: +13.72016 Q4 · Overall: +6.32017 Q1 · Overall: +9.72017 Q2 · Overall: +15.02017 Q3 · Overall: +11.62017 Q4 · Overall: +12.42018 Q1 · Overall: +11.92018 Q2 · Overall: +11.72018 Q3 · Overall: +12.82018 Q4 · Overall: +12.32019 Q1 · Overall: +13.52019 Q2 · Overall: +12.82019 Q3 · Overall: +8.52019 Q4 · Overall: +17.32020 Q1 · Overall: +2.72020 Q2 · Overall: +11.32020 Q3 · Overall: +14.92020 Q4 · Overall: +14.02021 Q1 · Overall: +14.22021 Q2 · Overall: +17.02021 Q3 · Overall: +13.12021 Q4 · Overall: +12.42022 Q1 · Overall: +6.92022 Q2 · Overall: +5.92022 Q3 · Overall: +11.22022 Q4 · Overall: +10.12023 Q1 · Overall: +11.12023 Q2 · Overall: +11.92023 Q3 · Overall: +9.62023 Q4 · Overall: +8.02024 Q1 · Overall: +4.72024 Q2 · Overall: +14.42024 Q3 · Overall: +8.02024 Q4 · Overall: +12.12025 Q1 · Overall: +8.2
Overall

CEO vs CFO

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

-51-26+0+26+512006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22006 Q3 · CEO: +16.22006 Q4 · CEO: +14.82007 Q1 · CEO: +17.82007 Q3 · CEO: +17.82007 Q4 · CEO: +34.22008 Q1 · CEO: +19.82008 Q2 · CEO: +44.42008 Q3 · CEO: +24.72008 Q4 · CEO: +24.02009 Q1 · CEO: +27.02009 Q2 · CEO: +27.82009 Q3 · CEO: +16.12009 Q4 · CEO: +20.92010 Q1 · CEO: +25.92010 Q2 · CEO: +28.72010 Q3 · CEO: +24.92010 Q4 · CEO: +26.92011 Q1 · CEO: +25.12011 Q2 · CEO: +23.22011 Q3 · CEO: +17.92011 Q4 · CEO: +25.42012 Q1 · CEO: +25.22012 Q2 · CEO: +17.02012 Q3 · CEO: +24.02012 Q4 · CEO: +21.02013 Q1 · CEO: +28.52013 Q2 · CEO: +18.52013 Q3 · CEO: +15.12013 Q4 · CEO: +24.32014 Q1 · CEO: +27.72014 Q2 · CEO: +27.12014 Q3 · CEO: +16.22014 Q4 · CEO: +12.62015 Q1 · CEO: +12.72015 Q2 · CEO: +23.22015 Q3 · CEO: +16.52015 Q4 · CEO: +26.62016 Q1 · CEO: +27.42016 Q2 · CEO: +19.62016 Q3 · CEO: +27.52016 Q4 · CEO: +15.22017 Q1 · CEO: +34.32017 Q2 · CEO: +19.92017 Q3 · CEO: +18.72017 Q4 · CEO: +19.72018 Q1 · CEO: +18.52018 Q2 · CEO: +17.92018 Q3 · CEO: +18.02018 Q4 · CEO: +18.22019 Q1 · CEO: +21.42019 Q2 · CEO: +17.22019 Q3 · CEO: +14.62019 Q4 · CEO: +21.92020 Q1 · CEO: +5.82020 Q2 · CEO: +18.42020 Q3 · CEO: +21.52020 Q4 · CEO: +20.42021 Q1 · CEO: +32.42021 Q2 · CEO: +21.32021 Q3 · CEO: +14.12021 Q4 · CEO: +18.82022 Q1 · CEO: +11.12022 Q2 · CEO: +12.32022 Q3 · CEO: +21.12022 Q4 · CEO: +14.82023 Q1 · CEO: +25.12023 Q2 · CEO: +16.32023 Q3 · CEO: +14.92023 Q4 · CEO: +13.52024 Q1 · CEO: +13.92024 Q2 · CEO: +23.22024 Q3 · CEO: +11.02024 Q4 · CEO: +22.42025 Q1 · CEO: +10.32006 Q3 · CFO: +6.62006 Q4 · CFO: +9.02007 Q1 · CFO: +6.52007 Q3 · CFO: +11.32007 Q4 · CFO: +3.72008 Q1 · CFO: +8.72008 Q2 · CFO: +5.62008 Q3 · CFO: +6.82008 Q4 · CFO: +4.82009 Q1 · CFO: +10.02009 Q2 · CFO: +3.82009 Q3 · CFO: +7.02009 Q4 · CFO: +6.52010 Q1 · CFO: +13.32010 Q2 · CFO: +11.92010 Q3 · CFO: +9.82010 Q4 · CFO: +13.42011 Q1 · CFO: +6.42011 Q2 · CFO: +8.62011 Q3 · CFO: +6.72011 Q4 · CFO: +11.02012 Q1 · CFO: +11.32012 Q2 · CFO: +9.92012 Q3 · CFO: +8.82012 Q4 · CFO: +11.62013 Q1 · CFO: +18.02013 Q2 · CFO: +13.32013 Q3 · CFO: +7.02013 Q4 · CFO: +2.92014 Q1 · CFO: +19.72014 Q2 · CFO: +6.62014 Q3 · CFO: -1.92014 Q4 · CFO: +3.72015 Q1 · CFO: +10.22016 Q3 · CFO: +7.02016 Q4 · CFO: +0.02017 Q1 · CFO: +2.02017 Q2 · CFO: +13.32017 Q3 · CFO: +11.22017 Q4 · CFO: +14.72018 Q1 · CFO: +11.52018 Q2 · CFO: +13.52018 Q3 · CFO: +16.52018 Q4 · CFO: +21.22019 Q1 · CFO: +11.02019 Q2 · CFO: +26.12019 Q3 · CFO: +15.42019 Q4 · CFO: +21.32020 Q1 · CFO: +4.52020 Q2 · CFO: +8.82020 Q3 · CFO: +15.12020 Q4 · CFO: +14.22021 Q1 · CFO: +23.32021 Q2 · CFO: +22.02021 Q3 · CFO: +26.72021 Q4 · CFO: +13.72022 Q1 · CFO: +16.02022 Q2 · CFO: +9.02022 Q3 · CFO: +12.62022 Q4 · CFO: +5.12023 Q1 · CFO: +21.12023 Q2 · CFO: +22.02023 Q3 · CFO: +15.52023 Q4 · CFO: +5.92024 Q1 · CFO: +16.32024 Q2 · CFO: +12.42024 Q3 · CFO: +4.42024 Q4 · CFO: +8.72025 Q1 · CFO: +14.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-79-39+0+39+792006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22006 Q3 · Prepared remarks: +20.92006 Q4 · Prepared remarks: +15.32007 Q1 · Prepared remarks: +26.92007 Q3 · Prepared remarks: +28.02007 Q4 · Prepared remarks: +33.12008 Q1 · Prepared remarks: +29.12008 Q2 · Prepared remarks: +20.52008 Q3 · Prepared remarks: +20.52008 Q4 · Prepared remarks: +22.62009 Q1 · Prepared remarks: +30.22009 Q2 · Prepared remarks: +25.52009 Q3 · Prepared remarks: +21.92009 Q4 · Prepared remarks: +18.42010 Q1 · Prepared remarks: +31.72010 Q2 · Prepared remarks: +28.62010 Q3 · Prepared remarks: +27.22010 Q4 · Prepared remarks: +23.42011 Q1 · Prepared remarks: +22.72011 Q2 · Prepared remarks: +23.22011 Q3 · Prepared remarks: +17.72011 Q4 · Prepared remarks: +25.42012 Q1 · Prepared remarks: +24.82012 Q2 · Prepared remarks: +19.62012 Q3 · Prepared remarks: +23.02012 Q4 · Prepared remarks: +18.62013 Q1 · Prepared remarks: +29.92013 Q2 · Prepared remarks: +20.92013 Q3 · Prepared remarks: +15.62013 Q4 · Prepared remarks: +20.92014 Q1 · Prepared remarks: +27.22014 Q2 · Prepared remarks: +23.92014 Q3 · Prepared remarks: +10.02014 Q4 · Prepared remarks: +13.02015 Q1 · Prepared remarks: +15.12015 Q2 · Prepared remarks: +13.82015 Q3 · Prepared remarks: +14.92015 Q4 · Prepared remarks: +16.32016 Q1 · Prepared remarks: +14.12016 Q2 · Prepared remarks: +8.92016 Q3 · Prepared remarks: +19.22016 Q4 · Prepared remarks: +8.22017 Q1 · Prepared remarks: +18.62017 Q2 · Prepared remarks: +17.52017 Q3 · Prepared remarks: +11.12017 Q4 · Prepared remarks: +16.52018 Q1 · Prepared remarks: +16.92018 Q2 · Prepared remarks: +15.82018 Q3 · Prepared remarks: +21.62018 Q4 · Prepared remarks: +21.32019 Q1 · Prepared remarks: +17.12019 Q2 · Prepared remarks: +27.62019 Q3 · Prepared remarks: +21.02019 Q4 · Prepared remarks: +30.42020 Q1 · Prepared remarks: +7.22020 Q2 · Prepared remarks: +16.02020 Q3 · Prepared remarks: +22.52020 Q4 · Prepared remarks: +13.92021 Q1 · Prepared remarks: +26.02021 Q2 · Prepared remarks: +33.42021 Q3 · Prepared remarks: +25.92021 Q4 · Prepared remarks: +25.72022 Q1 · Prepared remarks: +18.62022 Q2 · Prepared remarks: +20.92022 Q3 · Prepared remarks: +26.22022 Q4 · Prepared remarks: +13.22023 Q1 · Prepared remarks: +68.62023 Q2 · Prepared remarks: +24.02023 Q3 · Prepared remarks: +19.12023 Q4 · Prepared remarks: +18.82024 Q1 · Prepared remarks: +27.02024 Q2 · Prepared remarks: +34.32024 Q3 · Prepared remarks: +17.52024 Q4 · Prepared remarks: +34.72025 Q1 · Prepared remarks: +16.72006 Q3 · Q&A responses: +8.12006 Q4 · Q&A responses: +13.42007 Q1 · Q&A responses: +15.52007 Q3 · Q&A responses: +14.52007 Q4 · Q&A responses: +12.72008 Q1 · Q&A responses: +13.22008 Q2 · Q&A responses: +7.12008 Q3 · Q&A responses: +17.02008 Q4 · Q&A responses: +12.42009 Q1 · Q&A responses: +9.42009 Q2 · Q&A responses: +14.92009 Q3 · Q&A responses: +4.42009 Q4 · Q&A responses: +9.92010 Q1 · Q&A responses: +11.12010 Q2 · Q&A responses: +15.22010 Q3 · Q&A responses: +8.92010 Q4 · Q&A responses: +17.92011 Q1 · Q&A responses: +9.62011 Q2 · Q&A responses: +10.32011 Q3 · Q&A responses: +10.12011 Q4 · Q&A responses: +9.02012 Q1 · Q&A responses: +17.12012 Q2 · Q&A responses: +6.72012 Q3 · Q&A responses: +12.32012 Q4 · Q&A responses: +13.52013 Q1 · Q&A responses: +16.72013 Q2 · Q&A responses: +13.62013 Q3 · Q&A responses: +11.02013 Q4 · Q&A responses: +15.62014 Q1 · Q&A responses: +20.62014 Q2 · Q&A responses: +24.12014 Q3 · Q&A responses: +16.12014 Q4 · Q&A responses: +5.42015 Q1 · Q&A responses: +8.62015 Q2 · Q&A responses: +21.52015 Q3 · Q&A responses: +13.52015 Q4 · Q&A responses: +16.32016 Q1 · Q&A responses: +14.32016 Q2 · Q&A responses: +10.12016 Q3 · Q&A responses: +15.82016 Q4 · Q&A responses: +11.42017 Q1 · Q&A responses: +8.22017 Q2 · Q&A responses: +18.42017 Q3 · Q&A responses: +20.62017 Q4 · Q&A responses: +17.22018 Q1 · Q&A responses: +14.92018 Q2 · Q&A responses: +15.72018 Q3 · Q&A responses: +13.12018 Q4 · Q&A responses: +14.72019 Q1 · Q&A responses: +14.52019 Q2 · Q&A responses: +12.42019 Q3 · Q&A responses: +9.12019 Q4 · Q&A responses: +12.92020 Q1 · Q&A responses: +3.82020 Q2 · Q&A responses: +14.02020 Q3 · Q&A responses: +16.02020 Q4 · Q&A responses: +21.22021 Q1 · Q&A responses: +12.32021 Q2 · Q&A responses: +12.22021 Q3 · Q&A responses: +7.72021 Q4 · Q&A responses: +11.42022 Q1 · Q&A responses: +5.52022 Q2 · Q&A responses: +4.12022 Q3 · Q&A responses: +11.12022 Q4 · Q&A responses: +11.42023 Q1 · Q&A responses: +20.42023 Q2 · Q&A responses: +11.02023 Q3 · Q&A responses: +10.02023 Q4 · Q&A responses: +6.22024 Q1 · Q&A responses: +11.52024 Q2 · Q&A responses: +10.62024 Q3 · Q&A responses: +5.12024 Q4 · Q&A responses: +6.22025 Q1 · Q&A responses: +8.0
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

$1.79$2.44$3.082006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22014 Q1: $2.132014 Q2: $2.172014 Q3: $2.192014 Q4: $2.042015 Q1: $2.032015 Q2: $2.062015 Q3: $2.092015 Q4: $2.072016 Q1: $1.982016 Q2: $2.002016 Q3: $1.992016 Q4: $1.992017 Q1: $1.882017 Q2: $1.932017 Q3: $1.972017 Q4: $1.982018 Q1: $2.132018 Q2: $2.172018 Q3: $2.202018 Q4: $2.222019 Q1: $2.142019 Q2: $2.182019 Q3: $2.252019 Q4: $2.252020 Q1: $2.272020 Q2: $1.992020 Q3: $2.002020 Q4: $2.122021 Q1: $2.192021 Q2: $2.272021 Q3: $2.392021 Q4: $2.432022 Q1: $2.502022 Q2: $2.562022 Q3: $2.562022 Q4: $2.532023 Q1: $2.642023 Q2: $2.712023 Q3: $2.782023 Q4: $2.802024 Q1: $2.862024 Q2: $2.922024 Q3: $2.99

Forward P/E

17.3421.6325.922006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22014 Q1: 17.932014 Q2: 19.202014 Q3: 19.042014 Q4: 20.372015 Q1: 20.022015 Q2: 19.502015 Q3: 18.712015 Q4: 21.182016 Q1: 22.812016 Q2: 22.562016 Q3: 21.212016 Q4: 20.712017 Q1: 22.402017 Q2: 23.472017 Q3: 23.822017 Q4: 23.182018 Q1: 20.532018 Q2: 20.312018 Q3: 20.892018 Q4: 21.582019 Q1: 21.622019 Q2: 23.452019 Q3: 24.162019 Q4: 23.962020 Q1: 19.782020 Q2: 23.472020 Q3: 25.332020 Q4: 25.032021 Q1: 23.342021 Q2: 24.082021 Q3: 23.412021 Q4: 23.892022 Q1: 23.742022 Q2: 23.312022 Q3: 23.702022 Q4: 25.292023 Q1: 22.872023 Q2: 22.462023 Q3: 21.002023 Q4: 21.402024 Q1: 21.392024 Q2: 21.492024 Q3: 23.98

Divergence watch ⚑

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

  • 2014 Q2 tone ↓ -2.1 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -2.1 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↑ +2.4 fwd EPS ↓ -0.02 Tone rose while the forward EPS estimate was cut.
  • 2016 Q2 tone ↓ -4.5 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↑ +3.3 fwd EPS ↓ -0.11 Tone rose while the forward EPS estimate was cut.
  • 2017 Q3 tone ↓ -3.4 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↓ -4.3 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +8.6 fwd EPS ↓ -0.28 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -3.9 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -5.5 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -2.3 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -3.3 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↓ -6.4 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29+8.2——View →
2024 Q42025-02-11+12.1——View →
2024 Q32024-10-23+8.0$2.9924.0View →
2024 Q22024-07-23+14.4$2.9221.5View →
2024 Q12024-04-30+4.7$2.8621.4View →
2023 Q42024-02-13+8.0$2.8021.4View →
2023 Q32023-10-24+9.6$2.7821.0View →
2023 Q22023-07-26+11.9$2.7122.5View →