Subtext

The Charles Schwab Corporation SCHW

SectorFinancials
Transcripts22
Date range2011-10-26 – 2025-04-17
Calls charted22

Sentiment timeline

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

-20-10+0+10+202011 Q32013 Q12018 Q32022 Q12022 Q42023 Q32024 Q22025 Q12011 Q3 · Overall: +1.92011 Q4 · Overall: +6.22012 Q1 · Overall: +2.32013 Q1 · Overall: +1.12013 Q2 · Overall: +5.52016 Q1 · Overall: +1.22018 Q3 · Overall: +6.42019 Q4 · Overall: +9.12020 Q3 · Overall: +10.92022 Q1 · Overall: +7.82022 Q2 · Overall: +9.42022 Q3 · Overall: +5.12022 Q4 · Overall: +3.82023 Q1 · Overall: +11.72023 Q2 · Overall: +12.62023 Q3 · Overall: +8.42023 Q4 · Overall: +13.12024 Q1 · Overall: +13.52024 Q2 · Overall: +12.12024 Q3 · Overall: +15.92024 Q4 · Overall: +17.22025 Q1 · Overall: +12.3
Overall

CEO vs CFO

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

-31-15+0+15+312011 Q32013 Q12018 Q32022 Q12022 Q42023 Q32024 Q22025 Q12011 Q3 · CEO: +4.52011 Q4 · CEO: +2.72012 Q1 · CEO: +8.62013 Q1 · CEO: +3.62013 Q2 · CEO: +2.82016 Q1 · CEO: +0.02018 Q3 · CEO: +8.12020 Q3 · CEO: +15.32022 Q3 · CEO: +2.42022 Q4 · CEO: -1.12023 Q1 · CEO: +12.02023 Q2 · CEO: +26.82023 Q3 · CEO: +9.32023 Q4 · CEO: +8.32024 Q1 · CEO: +19.42024 Q2 · CEO: +13.32024 Q3 · CEO: +12.22025 Q1 · CEO: +17.12011 Q3 · CFO: -0.62011 Q4 · CFO: +2.82012 Q1 · CFO: -2.02013 Q1 · CFO: +2.72013 Q2 · CFO: +4.82016 Q1 · CFO: +2.12018 Q3 · CFO: +11.42020 Q3 · CFO: +16.52022 Q3 · CFO: +2.22022 Q4 · CFO: +16.22023 Q1 · CFO: +4.92023 Q2 · CFO: +14.92023 Q3 · CFO: +5.02023 Q4 · CFO: +19.92024 Q1 · CFO: +9.72024 Q2 · CFO: +9.72024 Q3 · CFO: +15.12024 Q4 · CFO: +21.12025 Q1 · CFO: +16.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-41-21+0+21+412011 Q32013 Q12018 Q32022 Q12022 Q42023 Q32024 Q22025 Q12011 Q3 · Prepared remarks: +2.62011 Q4 · Prepared remarks: +6.22012 Q1 · Prepared remarks: +4.82013 Q1 · Prepared remarks: +2.72013 Q2 · Prepared remarks: +5.62016 Q1 · Prepared remarks: +5.72018 Q3 · Prepared remarks: +14.32019 Q4 · Prepared remarks: +9.22020 Q3 · Prepared remarks: +15.32022 Q1 · Prepared remarks: +35.92022 Q2 · Prepared remarks: +20.22022 Q3 · Prepared remarks: +12.32022 Q4 · Prepared remarks: +8.22023 Q1 · Prepared remarks: +12.02023 Q2 · Prepared remarks: +22.02023 Q3 · Prepared remarks: +15.22023 Q4 · Prepared remarks: +17.72024 Q1 · Prepared remarks: +18.02024 Q2 · Prepared remarks: +17.02024 Q3 · Prepared remarks: +22.42024 Q4 · Prepared remarks: +26.62025 Q1 · Prepared remarks: +15.12011 Q3 · Q&A responses: +1.72012 Q1 · Q&A responses: +0.32013 Q1 · Q&A responses: +1.22016 Q1 · Q&A responses: -1.92018 Q3 · Q&A responses: +4.72020 Q3 · Q&A responses: +14.32022 Q1 · Q&A responses: +2.02022 Q2 · Q&A responses: +1.42022 Q3 · Q&A responses: -1.22022 Q4 · Q&A responses: +2.22023 Q2 · Q&A responses: +6.62023 Q3 · Q&A responses: +0.82023 Q4 · Q&A responses: +3.62024 Q1 · Q&A responses: +11.12024 Q2 · Q&A responses: +8.72024 Q3 · Q&A responses: +10.72024 Q4 · Q&A responses: +11.12025 Q1 · Q&A responses: +14.9
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

$1.03$3.09$5.142011 Q32013 Q12018 Q32022 Q12022 Q42023 Q32024 Q22025 Q12016 Q1: $1.322018 Q3: $2.762019 Q4: $2.532020 Q3: $1.892022 Q1: $4.112022 Q2: $4.462022 Q3: $4.612022 Q4: $4.862023 Q1: $4.402023 Q2: $3.712023 Q3: $3.982023 Q4: $3.762024 Q1: $3.612024 Q2: $3.782024 Q3: $3.752024 Q4: $3.86

Forward P/E

12.8817.5922.302011 Q32013 Q12018 Q32022 Q12022 Q42023 Q32024 Q22025 Q12016 Q1: 20.432018 Q3: 18.852019 Q4: 19.232020 Q3: 18.902022 Q1: 21.652022 Q2: 13.812022 Q3: 15.792022 Q4: 15.912023 Q1: 13.532023 Q2: 14.632023 Q3: 14.752023 Q4: 17.632024 Q1: 18.602024 Q2: 19.272024 Q3: 16.972024 Q4: 19.16

Divergence watch ⚑

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

  • 2019 Q4 tone ↑ +2.7 fwd EPS ↓ -0.23 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -3.1 fwd EPS ↑ +2.22 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -4.3 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↑ +7.8 fwd EPS ↓ -0.46 Tone rose while the forward EPS estimate was cut.
  • 2023 Q3 tone ↓ -4.2 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↑ +4.7 fwd EPS ↓ -0.22 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-17+12.3——View →
2024 Q42025-01-21+17.2$3.8619.2View →
2024 Q32024-10-15+15.9$3.7517.0View →
2024 Q22024-07-16+12.1$3.7819.3View →
2024 Q12024-04-15+13.5$3.6118.6View →
2023 Q42024-01-17+13.1$3.7617.6View →
2023 Q32023-10-16+8.4$3.9814.8View →
2023 Q22023-07-21+12.6$3.7114.6View →