Subtext

PG&E Corporation PCG

SectorUtilities
Transcripts20
Date range2020-07-30 – 2025-04-24
Calls charted20

Sentiment timeline

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

-20-10+0+10+202020 Q22021 Q12021 Q42022 Q32023 Q22024 Q12024 Q42020 Q2 · Overall: +0.32020 Q3 · Overall: +3.32020 Q4 · Overall: +15.52021 Q1 · Overall: -1.12021 Q2 · Overall: +4.42021 Q3 · Overall: +6.12021 Q4 · Overall: +11.92022 Q1 · Overall: +10.62022 Q2 · Overall: +6.82022 Q3 · Overall: +11.32022 Q4 · Overall: +15.12023 Q1 · Overall: +15.92023 Q2 · Overall: +13.82023 Q3 · Overall: +6.42023 Q4 · Overall: +15.52024 Q1 · Overall: +5.12024 Q2 · Overall: +9.32024 Q3 · Overall: +17.82024 Q4 · Overall: +8.62025 Q1 · Overall: +12.2
Overall

CEO vs CFO

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

-31-15+0+15+312020 Q22021 Q12021 Q42022 Q32023 Q22024 Q12024 Q42020 Q3 · CEO: +9.02020 Q4 · CEO: +17.82021 Q1 · CEO: +6.42021 Q2 · CEO: +8.02021 Q3 · CEO: +12.42021 Q4 · CEO: +15.92022 Q1 · CEO: +20.22022 Q2 · CEO: +11.02022 Q3 · CEO: +16.12022 Q4 · CEO: +18.82023 Q1 · CEO: +18.62023 Q2 · CEO: +12.02023 Q3 · CEO: +8.42023 Q4 · CEO: +16.12024 Q1 · CEO: +4.32024 Q2 · CEO: +8.82024 Q3 · CEO: +17.52024 Q4 · CEO: +6.52025 Q1 · CEO: +13.82020 Q2 · CFO: +0.02020 Q3 · CFO: +1.62020 Q4 · CFO: +11.02021 Q1 · CFO: -1.92021 Q2 · CFO: +1.22021 Q3 · CFO: +0.52021 Q4 · CFO: +14.52022 Q1 · CFO: +8.32022 Q2 · CFO: +3.82022 Q3 · CFO: +11.12022 Q4 · CFO: +18.02023 Q1 · CFO: +17.72023 Q2 · CFO: +21.42023 Q3 · CFO: +3.62023 Q4 · CFO: +25.02024 Q1 · CFO: +14.72024 Q2 · CFO: +21.02024 Q3 · CFO: +21.52024 Q4 · CFO: +26.92025 Q1 · CFO: +13.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-49-25+0+25+492020 Q22021 Q12021 Q42022 Q32023 Q22024 Q12024 Q42020 Q2 · Prepared remarks: +3.02020 Q3 · Prepared remarks: +5.62020 Q4 · Prepared remarks: +16.02021 Q1 · Prepared remarks: +2.42021 Q2 · Prepared remarks: +3.42021 Q3 · Prepared remarks: +5.02021 Q4 · Prepared remarks: +16.42022 Q1 · Prepared remarks: +12.12022 Q2 · Prepared remarks: +8.72022 Q3 · Prepared remarks: +10.82022 Q4 · Prepared remarks: +15.92023 Q1 · Prepared remarks: +18.12023 Q2 · Prepared remarks: +17.02023 Q3 · Prepared remarks: +5.52023 Q4 · Prepared remarks: +22.02024 Q1 · Prepared remarks: +43.02024 Q2 · Prepared remarks: +14.62024 Q3 · Prepared remarks: +19.52024 Q4 · Prepared remarks: +8.92025 Q1 · Prepared remarks: +20.32020 Q2 · Q&A responses: +0.02020 Q3 · Q&A responses: +3.42021 Q1 · Q&A responses: +3.02021 Q2 · Q&A responses: +7.82021 Q3 · Q&A responses: +10.72021 Q4 · Q&A responses: +15.02022 Q1 · Q&A responses: +16.62022 Q2 · Q&A responses: +7.82022 Q3 · Q&A responses: +16.42022 Q4 · Q&A responses: +22.22023 Q1 · Q&A responses: +14.82023 Q2 · Q&A responses: +9.52023 Q3 · Q&A responses: +10.42023 Q4 · Q&A responses: +16.22024 Q1 · Q&A responses: +4.52024 Q2 · Q&A responses: +10.52024 Q3 · Q&A responses: +19.42025 Q1 · Q&A responses: +7.3
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

$0.87$2.09$3.322020 Q22021 Q12021 Q42022 Q32023 Q22024 Q12024 Q42020 Q2: $3.152020 Q3: $1.352020 Q4: $1.192021 Q1: $1.042021 Q2: $1.062021 Q3: $1.082021 Q4: $1.112022 Q1: $1.142022 Q2: $1.152022 Q3: $1.192022 Q4: $1.222023 Q1: $1.252023 Q2: $1.282023 Q3: $1.312023 Q4: $1.352024 Q1: $1.392024 Q2: $1.422024 Q3: $1.46

Forward P/E

2.718.4914.272020 Q22021 Q12021 Q42022 Q32023 Q22024 Q12024 Q42020 Q2: 3.512020 Q3: 7.242020 Q4: 10.132021 Q1: 11.392021 Q2: 9.612021 Q3: 9.112021 Q4: 11.052022 Q1: 10.552022 Q2: 8.942022 Q3: 11.092022 Q4: 13.442023 Q1: 12.742023 Q2: 13.472023 Q3: 12.982023 Q4: 13.442024 Q1: 11.822024 Q2: 12.522024 Q3: 13.39

Divergence watch ⚑

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

  • 2020 Q3 tone ↑ +3.0 fwd EPS ↓ -1.80 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↑ +12.2 fwd EPS ↓ -0.16 Tone rose while the forward EPS estimate was cut.
  • 2022 Q2 tone ↓ -3.8 fwd EPS ↑ +0.01 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↓ -2.1 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -7.4 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q1 tone ↓ -10.3 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-24+12.2——View →
2024 Q42025-02-13+8.6——View →
2024 Q32024-11-07+17.8$1.4613.4View →
2024 Q22024-07-25+9.3$1.4212.5View →
2024 Q12024-04-25+5.1$1.3911.8View →
2023 Q42024-02-22+15.5$1.3513.4View →
2023 Q32023-10-26+6.4$1.3113.0View →
2023 Q22023-07-27+13.8$1.2813.5View →