Subtext

Moderna, Inc. MRNA

SectorHealth Care
Transcripts21
Date range2020-05-07 – 2025-05-01
Calls charted21

Sentiment timeline

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

-7-3+0+3+72020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +5.92020 Q2 · Overall: +1.22020 Q3 · Overall: -2.52020 Q4 · Overall: +0.32021 Q1 · Overall: -0.32021 Q2 · Overall: -0.42021 Q3 · Overall: +2.12021 Q4 · Overall: -1.32022 Q1 · Overall: -0.62022 Q2 · Overall: +3.82022 Q3 · Overall: +2.32022 Q4 · Overall: -0.42023 Q1 · Overall: +4.32023 Q2 · Overall: +5.02023 Q3 · Overall: +3.92023 Q4 · Overall: +5.32024 Q1 · Overall: -1.72024 Q2 · Overall: +5.32024 Q3 · Overall: +1.42024 Q4 · Overall: -1.62025 Q1 · Overall: +2.8
Overall

CEO vs CFO

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

-22-11+0+11+222020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +9.32020 Q2 · CEO: +5.12020 Q3 · CEO: +6.82020 Q4 · CEO: +5.22021 Q1 · CEO: +4.12021 Q2 · CEO: +8.12021 Q3 · CEO: +3.12021 Q4 · CEO: +5.42022 Q1 · CEO: +8.72022 Q2 · CEO: +13.52022 Q3 · CEO: +10.52022 Q4 · CEO: +11.82023 Q1 · CEO: +18.92023 Q2 · CEO: +10.92023 Q3 · CEO: +18.12023 Q4 · CEO: +13.12024 Q2 · CEO: +10.32024 Q3 · CEO: +5.92024 Q4 · CEO: +17.22025 Q1 · CEO: +13.22020 Q1 · CFO: +3.82020 Q2 · CFO: +3.72020 Q3 · CFO: +3.32020 Q4 · CFO: -3.62021 Q1 · CFO: +4.82021 Q2 · CFO: +5.12021 Q3 · CFO: +5.02021 Q4 · CFO: +9.22022 Q1 · CFO: +4.32022 Q2 · CFO: +7.22022 Q3 · CFO: +8.22022 Q4 · CFO: +12.32023 Q1 · CFO: +13.12023 Q2 · CFO: -1.82023 Q3 · CFO: -1.62023 Q4 · CFO: -2.82024 Q2 · CFO: +6.82024 Q3 · CFO: +2.42024 Q4 · CFO: +2.22025 Q1 · CFO: +3.8
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-17-9+0+9+172020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +15.22020 Q2 · Prepared remarks: -1.92020 Q3 · Prepared remarks: +2.92020 Q4 · Prepared remarks: +1.12021 Q1 · Prepared remarks: +3.52021 Q2 · Prepared remarks: +2.52021 Q3 · Prepared remarks: +5.42021 Q4 · Prepared remarks: -1.42022 Q1 · Prepared remarks: -0.82022 Q2 · Prepared remarks: +9.52022 Q3 · Prepared remarks: +5.22022 Q4 · Prepared remarks: +6.32023 Q1 · Prepared remarks: +10.12023 Q2 · Prepared remarks: +5.32023 Q3 · Prepared remarks: +7.42023 Q4 · Prepared remarks: +6.92024 Q1 · Prepared remarks: +5.62024 Q2 · Prepared remarks: +11.22024 Q3 · Prepared remarks: +11.32024 Q4 · Prepared remarks: +9.52025 Q1 · Prepared remarks: +9.82020 Q1 · Q&A responses: +2.42020 Q2 · Q&A responses: +7.42020 Q3 · Q&A responses: -3.12020 Q4 · Q&A responses: +1.52021 Q1 · Q&A responses: -3.32021 Q2 · Q&A responses: -3.32021 Q3 · Q&A responses: +1.22021 Q4 · Q&A responses: -0.32022 Q1 · Q&A responses: +4.02022 Q2 · Q&A responses: +0.32022 Q3 · Q&A responses: +2.82022 Q4 · Q&A responses: -5.92023 Q1 · Q&A responses: +2.72023 Q2 · Q&A responses: +11.22023 Q3 · Q&A responses: +5.02023 Q4 · Q&A responses: +6.72024 Q1 · Q&A responses: +6.22024 Q2 · Q&A responses: +6.12024 Q3 · Q&A responses: -2.32024 Q4 · Q&A responses: -4.92025 Q1 · Q&A responses: +3.8
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

$-11.35$9.61$30.562020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $-1.522020 Q2: $-0.822020 Q3: $1.392020 Q4: $8.882021 Q1: $20.112021 Q2: $21.952021 Q3: $27.672021 Q4: $26.472022 Q1: $23.092022 Q2: $18.302022 Q3: $13.232022 Q4: $5.272023 Q1: $-2.502023 Q2: $-3.272023 Q3: $-4.882023 Q4: $-6.742024 Q1: $-6.652024 Q2: $-6.252024 Q3: $-8.46

Forward P/E

1.9238.9976.072020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q3: 49.532020 Q4: 15.432021 Q1: 7.342021 Q2: 9.022021 Q3: 15.702021 Q4: 10.702022 Q1: 7.332022 Q2: 7.032022 Q3: 10.532022 Q4: 39.652023 Q1: 70.96

Divergence watch ⚑

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

  • 2020 Q2 tone ↓ -4.7 fwd EPS ↑ +0.70 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q3 tone ↓ -3.6 fwd EPS ↑ +2.21 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↑ +4.4 fwd EPS ↓ -4.79 Tone rose while the forward EPS estimate was cut.
  • 2023 Q1 tone ↑ +4.7 fwd EPS ↓ -7.76 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -6.9 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+2.8——View →
2024 Q42025-02-14-1.6——View →
2024 Q32024-11-07+1.4$-8.46—View →
2024 Q22024-08-01+5.3$-6.25—View →
2024 Q12024-05-02-1.7$-6.65—View →
2023 Q42024-02-22+5.3$-6.74—View →
2023 Q32023-11-02+3.9$-4.88—View →
2023 Q22023-08-03+5.0$-3.27—View →