Subtext

lululemon athletica inc. LULU

SectorConsumer Discretionary
Transcripts20
Date range2020-06-11 – 2025-03-27
Calls charted20

Sentiment timeline

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

-25-13+0+13+252020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +6.62020 Q2 · Overall: +14.62020 Q3 · Overall: +9.92020 Q4 · Overall: +21.82021 Q1 · Overall: +13.22021 Q2 · Overall: +8.82021 Q3 · Overall: +9.62021 Q4 · Overall: +10.42022 Q1 · Overall: +2.72022 Q2 · Overall: +14.62022 Q3 · Overall: +16.82022 Q4 · Overall: +10.92023 Q1 · Overall: +11.82023 Q2 · Overall: +20.12023 Q3 · Overall: +11.82023 Q4 · Overall: +7.32024 Q1 · Overall: +18.82024 Q2 · Overall: +13.02024 Q3 · Overall: +14.62024 Q4 · Overall: +10.8
Overall

CEO vs CFO

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

-43-21+0+21+432020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +16.92020 Q2 · CEO: +23.82020 Q3 · CEO: +34.32020 Q4 · CEO: +36.22021 Q1 · CEO: +24.52021 Q2 · CEO: +18.32021 Q3 · CEO: +23.62021 Q4 · CEO: +25.52022 Q1 · CEO: +28.92022 Q2 · CEO: +30.02022 Q3 · CEO: +29.12022 Q4 · CEO: +35.12023 Q1 · CEO: +19.82023 Q2 · CEO: +37.02023 Q3 · CEO: +27.32023 Q4 · CEO: +23.72024 Q1 · CEO: +33.92024 Q2 · CEO: +25.82024 Q3 · CEO: +24.12024 Q4 · CEO: +23.12020 Q3 · CFO: +3.92020 Q4 · CFO: +8.32021 Q1 · CFO: +17.32021 Q2 · CFO: +7.92021 Q3 · CFO: +11.52021 Q4 · CFO: +11.82022 Q1 · CFO: -1.02022 Q2 · CFO: +19.62022 Q3 · CFO: +20.82022 Q4 · CFO: +5.42023 Q1 · CFO: +18.72023 Q2 · CFO: +22.02023 Q3 · CFO: +18.12023 Q4 · CFO: +5.12024 Q1 · CFO: +4.22024 Q2 · CFO: +3.32024 Q3 · CFO: +6.72024 Q4 · CFO: +2.7
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-52-26+0+26+522020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +3.82020 Q2 · Prepared remarks: +21.62020 Q3 · Prepared remarks: +23.12020 Q4 · Prepared remarks: +43.62021 Q1 · Prepared remarks: +23.32021 Q2 · Prepared remarks: +34.12021 Q3 · Prepared remarks: +24.72021 Q4 · Prepared remarks: +41.72022 Q1 · Prepared remarks: +22.02022 Q2 · Prepared remarks: +39.82022 Q3 · Prepared remarks: +36.82022 Q4 · Prepared remarks: +43.42023 Q1 · Prepared remarks: +41.12023 Q2 · Prepared remarks: +45.32023 Q3 · Prepared remarks: +21.92023 Q4 · Prepared remarks: +9.72024 Q1 · Prepared remarks: +18.52024 Q2 · Prepared remarks: +15.32024 Q3 · Prepared remarks: +14.82024 Q4 · Prepared remarks: +15.52020 Q1 · Q&A responses: +13.02020 Q2 · Q&A responses: +19.52020 Q3 · Q&A responses: +16.62020 Q4 · Q&A responses: +18.82021 Q1 · Q&A responses: +20.72021 Q2 · Q&A responses: +12.12021 Q3 · Q&A responses: +16.42021 Q4 · Q&A responses: +16.22022 Q1 · Q&A responses: +8.02022 Q2 · Q&A responses: +19.82022 Q3 · Q&A responses: +22.32022 Q4 · Q&A responses: +13.72023 Q1 · Q&A responses: +15.42023 Q2 · Q&A responses: +27.52023 Q3 · Q&A responses: +19.92023 Q4 · Q&A responses: +13.22024 Q1 · Q&A responses: +27.02024 Q2 · Q&A responses: +17.92024 Q3 · Q&A responses: +18.82024 Q4 · Q&A responses: +10.4
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

$4.26$10.00$15.742020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $5.872020 Q2: $5.052020 Q3: $5.672020 Q4: $6.552021 Q1: $6.952021 Q2: $7.472021 Q3: $8.452021 Q4: $9.062022 Q1: $9.332022 Q2: $10.192022 Q3: $10.902022 Q4: $11.322023 Q1: $11.692023 Q2: $12.682023 Q3: $13.302023 Q4: $14.032024 Q1: $14.542024 Q2: $14.952024 Q3: $14.58

Forward P/E

15.2139.3163.412020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 23.902020 Q2: 60.092020 Q3: 54.702020 Q4: 55.402021 Q1: 45.372021 Q2: 45.172021 Q3: 49.602021 Q4: 44.442022 Q1: 32.712022 Q2: 28.032022 Q3: 31.452022 Q4: 29.462023 Q1: 25.092023 Q2: 29.762023 Q3: 29.252023 Q4: 35.962024 Q1: 32.012024 Q2: 20.962024 Q3: 18.53

Divergence watch ⚑

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

  • 2020 Q2 tone ↑ +8.0 fwd EPS ↓ -0.82 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↓ -4.7 fwd EPS ↑ +0.61 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -8.6 fwd EPS ↑ +0.39 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -4.5 fwd EPS ↑ +0.52 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -7.6 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -5.9 fwd EPS ↑ +0.41 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -8.4 fwd EPS ↑ +0.62 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↓ -4.4 fwd EPS ↑ +0.73 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -5.8 fwd EPS ↑ +0.40 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2024 Q42025-03-27+10.8——View →
2024 Q32024-12-05+14.6$14.5818.5View →
2024 Q22024-08-29+13.0$14.9521.0View →
2024 Q12024-06-05+18.8$14.5432.0View →
2023 Q42024-03-21+7.3$14.0336.0View →
2023 Q32023-12-07+11.8$13.3029.2View →
2023 Q22023-08-31+20.1$12.6829.8View →
2023 Q12023-06-01+11.8$11.6925.1View →