Subtext

ResMed Inc. RMD

SectorHealth Care
Transcripts35
Date range2016-10-25 – 2025-04-23
Calls charted35

Sentiment timeline

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

-19-9+0+9+192017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Overall: +5.22017 Q2 · Overall: +7.92017 Q3 · Overall: +11.12017 Q4 · Overall: +9.42018 Q1 · Overall: +15.62018 Q2 · Overall: +12.92018 Q3 · Overall: +12.22018 Q4 · Overall: +12.72019 Q1 · Overall: +15.22019 Q2 · Overall: +11.72019 Q3 · Overall: +16.42019 Q4 · Overall: +12.02020 Q1 · Overall: +15.52020 Q2 · Overall: +11.32020 Q3 · Overall: +4.52020 Q4 · Overall: +7.12021 Q1 · Overall: +3.42021 Q2 · Overall: +9.72021 Q3 · Overall: +8.12021 Q4 · Overall: +8.82022 Q1 · Overall: +4.62022 Q2 · Overall: +7.72022 Q3 · Overall: +6.82022 Q4 · Overall: +10.12023 Q1 · Overall: +4.42023 Q2 · Overall: +11.42023 Q3 · Overall: +11.32023 Q4 · Overall: +12.92024 Q1 · Overall: +12.52024 Q2 · Overall: +13.82024 Q3 · Overall: +13.52024 Q4 · Overall: +9.42025 Q1 · Overall: +12.92025 Q2 · Overall: +9.32025 Q3 · Overall: +11.9
Overall

CEO vs CFO

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

-26-13+0+13+262017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · CEO: +10.22017 Q2 · CEO: +14.62017 Q3 · CEO: +17.52017 Q4 · CEO: +16.72018 Q1 · CEO: +19.92018 Q2 · CEO: +18.72018 Q3 · CEO: +17.82018 Q4 · CEO: +16.42019 Q1 · CEO: +21.22019 Q2 · CEO: +17.82019 Q3 · CEO: +22.52019 Q4 · CEO: +19.02020 Q1 · CEO: +21.22020 Q2 · CEO: +18.52020 Q3 · CEO: +6.52020 Q4 · CEO: +10.72021 Q2 · CEO: +17.12021 Q3 · CEO: +13.32021 Q4 · CEO: +10.72022 Q1 · CEO: +9.42022 Q2 · CEO: +9.02022 Q3 · CEO: +10.72023 Q1 · CEO: +9.82023 Q3 · CEO: +15.42023 Q4 · CEO: +17.72024 Q1 · CEO: +16.62024 Q2 · CEO: +20.02024 Q3 · CEO: +17.22024 Q4 · CEO: +12.22025 Q1 · CEO: +16.62025 Q2 · CEO: +12.52017 Q1 · CFO: +5.22017 Q2 · CFO: -1.32017 Q3 · CFO: +9.32017 Q4 · CFO: +4.22018 Q1 · CFO: +14.32018 Q2 · CFO: +9.32018 Q3 · CFO: +3.32018 Q4 · CFO: +8.32019 Q1 · CFO: +12.42019 Q2 · CFO: +14.12019 Q3 · CFO: +9.72019 Q4 · CFO: +1.62020 Q1 · CFO: +11.52020 Q2 · CFO: +10.82020 Q3 · CFO: +12.12020 Q4 · CFO: +7.22021 Q2 · CFO: +3.22021 Q3 · CFO: +5.02021 Q4 · CFO: +1.92022 Q1 · CFO: +1.72022 Q2 · CFO: +9.62022 Q3 · CFO: +4.22022 Q4 · CFO: +8.32023 Q1 · CFO: +3.72023 Q2 · CFO: +3.42023 Q3 · CFO: +14.52023 Q4 · CFO: +3.52024 Q1 · CFO: +9.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1 · Prepared remarks: +11.62017 Q2 · Prepared remarks: +10.82017 Q3 · Prepared remarks: +12.32017 Q4 · Prepared remarks: +11.22018 Q1 · Prepared remarks: +19.52018 Q2 · Prepared remarks: +18.82018 Q3 · Prepared remarks: +17.12018 Q4 · Prepared remarks: +17.82019 Q1 · Prepared remarks: +19.42019 Q2 · Prepared remarks: +15.52019 Q3 · Prepared remarks: +18.32019 Q4 · Prepared remarks: +18.42020 Q1 · Prepared remarks: +25.02020 Q2 · Prepared remarks: +24.12020 Q3 · Prepared remarks: +11.92020 Q4 · Prepared remarks: +15.82021 Q1 · Prepared remarks: +22.32021 Q2 · Prepared remarks: +12.72021 Q3 · Prepared remarks: +13.82021 Q4 · Prepared remarks: +8.92022 Q1 · Prepared remarks: +11.22022 Q2 · Prepared remarks: +14.92022 Q3 · Prepared remarks: +12.32022 Q4 · Prepared remarks: +17.42023 Q1 · Prepared remarks: +18.92023 Q2 · Prepared remarks: +22.02023 Q3 · Prepared remarks: +23.92023 Q4 · Prepared remarks: +22.92024 Q1 · Prepared remarks: +20.52024 Q2 · Prepared remarks: +23.92024 Q3 · Prepared remarks: +20.82024 Q4 · Prepared remarks: +19.52025 Q1 · Prepared remarks: +26.12025 Q2 · Prepared remarks: +20.52025 Q3 · Prepared remarks: +15.52017 Q1 · Q&A responses: +2.62017 Q2 · Q&A responses: +9.22017 Q3 · Q&A responses: +12.92018 Q1 · Q&A responses: +16.72018 Q2 · Q&A responses: +12.22018 Q3 · Q&A responses: +10.22018 Q4 · Q&A responses: +12.02019 Q1 · Q&A responses: +17.12019 Q2 · Q&A responses: +17.52019 Q4 · Q&A responses: +13.12020 Q1 · Q&A responses: +12.62020 Q2 · Q&A responses: +6.82020 Q3 · Q&A responses: -1.92020 Q4 · Q&A responses: +2.72021 Q1 · Q&A responses: +6.02021 Q2 · Q&A responses: +10.12021 Q3 · Q&A responses: +7.82021 Q4 · Q&A responses: +12.02022 Q1 · Q&A responses: +5.22022 Q2 · Q&A responses: +6.52022 Q3 · Q&A responses: +6.02022 Q4 · Q&A responses: +8.22023 Q1 · Q&A responses: +2.32023 Q2 · Q&A responses: +9.22023 Q3 · Q&A responses: +9.12023 Q4 · Q&A responses: +10.72024 Q1 · Q&A responses: +9.42024 Q2 · Q&A responses: +9.42024 Q3 · Q&A responses: +14.42024 Q4 · Q&A responses: +5.92025 Q1 · Q&A responses: +9.62025 Q2 · Q&A responses: +3.92025 Q3 · Q&A responses: +15.0
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

$2.50$6.44$10.372017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: $3.042017 Q2: $3.132017 Q3: $3.112017 Q4: $3.192018 Q1: $3.482018 Q2: $3.622018 Q3: $3.812018 Q4: $3.922019 Q1: $3.802019 Q2: $3.902019 Q3: $4.092019 Q4: $4.262020 Q1: $4.622020 Q2: $4.552020 Q3: $4.842020 Q4: $5.292021 Q1: $5.502021 Q2: $5.592021 Q3: $6.342021 Q4: $6.552022 Q1: $6.752022 Q2: $6.512022 Q3: $6.742022 Q4: $6.912023 Q1: $7.082023 Q2: $7.392023 Q3: $7.212023 Q4: $7.572024 Q1: $8.002024 Q2: $8.632024 Q3: $9.292024 Q4: $9.83

Forward P/E

18.2533.0447.832017 Q12018 Q22019 Q32020 Q42022 Q12023 Q22024 Q32017 Q1: 23.482017 Q2: 24.072017 Q3: 25.602017 Q4: 26.652018 Q1: 28.292018 Q2: 29.502018 Q3: 29.602018 Q4: 27.912019 Q1: 26.992019 Q2: 30.912019 Q3: 32.422019 Q4: 36.582020 Q1: 32.832020 Q2: 37.892020 Q3: 35.962020 Q4: 39.792021 Q1: 34.782021 Q2: 42.362021 Q3: 45.792021 Q4: 39.172022 Q1: 37.832022 Q2: 31.232022 Q3: 34.602022 Q4: 31.992023 Q1: 29.402023 Q2: 29.322023 Q3: 20.292023 Q4: 22.752024 Q1: 24.072024 Q2: 24.602024 Q3: 25.642024 Q4: 23.42

Divergence watch ⚑

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

  • 2018 Q2 tone ↓ -2.7 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↑ +2.5 fwd EPS ↓ -0.12 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↓ -3.4 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -4.5 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q3 tone ↓ -6.8 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -3.7 fwd EPS ↑ +0.21 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -4.2 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↑ +3.1 fwd EPS ↓ -0.24 Tone rose while the forward EPS estimate was cut.
  • 2023 Q1 tone ↓ -5.7 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -4.1 fwd EPS ↑ +0.54 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q32025-04-23+11.9——View →
2025 Q22025-01-30+9.3——View →
2025 Q12024-10-24+12.9——View →
2024 Q42024-08-01+9.4$9.8323.4View →
2024 Q32024-04-25+13.5$9.2925.6View →
2024 Q22024-01-24+13.8$8.6324.6View →
2024 Q12023-10-26+12.5$8.0024.1View →
2023 Q42023-08-03+12.9$7.5722.8View →