Subtext

S&P Global Inc. SPGI

SectorFinancials
Transcripts77
Date range2006-01-27 – 2025-04-29
Calls charted77

Sentiment timeline

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

-19-9+0+9+192005 Q42008 Q22011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32005 Q4 · Overall: +9.72006 Q1 · Overall: +9.02006 Q2 · Overall: +11.62006 Q3 · Overall: +8.42006 Q4 · Overall: +14.22007 Q1 · Overall: +9.72007 Q2 · Overall: +3.02007 Q3 · Overall: +4.22007 Q4 · Overall: +1.72008 Q1 · Overall: +1.52008 Q2 · Overall: -1.92008 Q3 · Overall: -7.12008 Q4 · Overall: -4.92009 Q1 · Overall: -7.12009 Q2 · Overall: -9.52009 Q3 · Overall: -7.52009 Q4 · Overall: -0.32010 Q1 · Overall: -9.02010 Q3 · Overall: +1.72010 Q4 · Overall: +1.62011 Q1 · Overall: +6.42011 Q2 · Overall: +8.92011 Q3 · Overall: +0.92011 Q4 · Overall: -0.72012 Q1 · Overall: +5.42012 Q2 · Overall: +0.82012 Q3 · Overall: +2.42012 Q4 · Overall: -8.62013 Q1 · Overall: +3.42013 Q2 · Overall: +3.52013 Q3 · Overall: +2.42013 Q4 · Overall: +4.52014 Q1 · Overall: -5.02014 Q2 · Overall: +3.72014 Q3 · Overall: +2.12014 Q4 · Overall: +5.82015 Q1 · Overall: +7.42015 Q2 · Overall: +10.52015 Q3 · Overall: +7.12015 Q4 · Overall: +1.92016 Q1 · Overall: +3.32016 Q2 · Overall: +7.02016 Q3 · Overall: +5.42016 Q4 · Overall: +7.22017 Q1 · Overall: +7.52017 Q2 · Overall: +5.32017 Q3 · Overall: +6.62017 Q4 · Overall: +6.72018 Q1 · Overall: +10.92018 Q2 · Overall: +10.52018 Q3 · Overall: +9.12018 Q4 · Overall: +4.92019 Q1 · Overall: +6.92019 Q2 · Overall: +6.02019 Q3 · Overall: +5.62019 Q4 · Overall: +8.72020 Q1 · Overall: -4.82020 Q2 · Overall: -0.52020 Q3 · Overall: +3.22020 Q4 · Overall: +3.52021 Q1 · Overall: +9.62021 Q2 · Overall: +7.02021 Q3 · Overall: +5.82021 Q4 · Overall: +9.22022 Q1 · Overall: +7.72022 Q2 · Overall: +6.62022 Q3 · Overall: +5.62022 Q4 · Overall: +6.92023 Q1 · Overall: +9.12023 Q2 · Overall: +9.52023 Q3 · Overall: +14.02023 Q4 · Overall: +14.52024 Q1 · Overall: -3.22024 Q2 · Overall: +12.12024 Q3 · Overall: +15.82024 Q4 · Overall: +16.22025 Q1 · Overall: +9.0
Overall

CEO vs CFO

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

-29-14+0+14+292005 Q42008 Q22011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32006 Q1 · CEO: +14.92006 Q2 · CEO: +18.32006 Q3 · CEO: +14.22006 Q4 · CEO: +19.32007 Q1 · CEO: +14.42007 Q4 · CEO: +3.82008 Q1 · CEO: +5.22008 Q2 · CEO: -0.12008 Q3 · CEO: -6.02008 Q4 · CEO: -3.72009 Q1 · CEO: -5.82009 Q2 · CEO: -4.12009 Q3 · CEO: -7.22009 Q4 · CEO: +2.22010 Q1 · CEO: -9.92010 Q3 · CEO: +3.12010 Q4 · CEO: +3.22011 Q1 · CEO: +10.32011 Q2 · CEO: +12.92011 Q3 · CEO: -1.32011 Q4 · CEO: +5.62012 Q1 · CEO: +9.02012 Q2 · CEO: +4.12012 Q3 · CEO: +3.72012 Q4 · CEO: +4.62013 Q1 · CEO: +6.52013 Q3 · CEO: +4.72013 Q4 · CEO: +8.82014 Q2 · CEO: +8.52014 Q3 · CEO: +5.72014 Q4 · CEO: +11.82015 Q1 · CEO: +10.22015 Q2 · CEO: +12.92015 Q3 · CEO: +5.32015 Q4 · CEO: +2.22016 Q1 · CEO: +7.72016 Q2 · CEO: +6.52016 Q3 · CEO: +8.92016 Q4 · CEO: +8.32017 Q1 · CEO: +12.12017 Q2 · CEO: +11.62017 Q3 · CEO: +9.32017 Q4 · CEO: +11.92018 Q1 · CEO: +13.22018 Q2 · CEO: +14.62018 Q3 · CEO: +13.72018 Q4 · CEO: +5.92019 Q1 · CEO: +10.92019 Q2 · CEO: +8.72019 Q3 · CEO: +2.42019 Q4 · CEO: +14.52020 Q1 · CEO: -2.82020 Q2 · CEO: +3.02020 Q3 · CEO: +7.32020 Q4 · CEO: +10.62021 Q1 · CEO: +13.82021 Q2 · CEO: +9.62021 Q3 · CEO: +9.52021 Q4 · CEO: +10.52022 Q1 · CEO: +8.02022 Q2 · CEO: +10.42022 Q3 · CEO: +8.42022 Q4 · CEO: +15.82023 Q1 · CEO: +9.72023 Q2 · CEO: +11.42023 Q3 · CEO: +19.12023 Q4 · CEO: +19.12024 Q1 · CEO: +5.52024 Q2 · CEO: +15.82024 Q3 · CEO: +21.32024 Q4 · CEO: +23.02025 Q1 · CEO: +13.82005 Q4 · CFO: +11.32006 Q1 · CFO: +11.82006 Q2 · CFO: +5.52006 Q3 · CFO: +5.32006 Q4 · CFO: +8.02007 Q1 · CFO: +6.32007 Q2 · CFO: +3.82007 Q3 · CFO: +0.02007 Q4 · CFO: +5.02008 Q1 · CFO: -2.32008 Q2 · CFO: -1.42008 Q3 · CFO: -7.32008 Q4 · CFO: +5.12009 Q1 · CFO: -6.12009 Q2 · CFO: -19.62009 Q3 · CFO: -10.12009 Q4 · CFO: -2.02010 Q1 · CFO: -2.32010 Q3 · CFO: +0.92010 Q4 · CFO: +2.82011 Q1 · CFO: +6.22011 Q2 · CFO: +11.62011 Q3 · CFO: +5.42011 Q4 · CFO: -5.62012 Q1 · CFO: +9.92012 Q2 · CFO: +3.62012 Q3 · CFO: +7.52012 Q4 · CFO: +1.12013 Q1 · CFO: +9.12013 Q2 · CFO: +7.12013 Q3 · CFO: +9.32013 Q4 · CFO: +5.82014 Q1 · CFO: +0.92014 Q2 · CFO: +3.22014 Q3 · CFO: +8.52014 Q4 · CFO: +5.52015 Q1 · CFO: +14.32015 Q3 · CFO: +17.52015 Q4 · CFO: +8.72016 Q1 · CFO: +6.32016 Q2 · CFO: +14.72016 Q3 · CFO: +12.12016 Q4 · CFO: +18.52017 Q1 · CFO: +4.12017 Q2 · CFO: +7.52017 Q3 · CFO: +16.22017 Q4 · CFO: +15.32018 Q1 · CFO: +11.32018 Q2 · CFO: +12.02018 Q3 · CFO: +9.82018 Q4 · CFO: +9.22019 Q1 · CFO: +6.52019 Q2 · CFO: +8.72019 Q3 · CFO: +12.72019 Q4 · CFO: +4.82020 Q1 · CFO: -0.72020 Q2 · CFO: -8.82020 Q3 · CFO: -6.52020 Q4 · CFO: -9.82021 Q1 · CFO: +1.12021 Q2 · CFO: +8.42021 Q3 · CFO: +13.72021 Q4 · CFO: +14.82022 Q1 · CFO: +14.52022 Q2 · CFO: +5.62022 Q3 · CFO: +8.32022 Q4 · CFO: +7.02023 Q1 · CFO: +15.92023 Q2 · CFO: +14.12023 Q3 · CFO: +18.32023 Q4 · CFO: +24.22024 Q1 · CFO: +25.02024 Q2 · CFO: +22.82024 Q3 · CFO: +16.02024 Q4 · CFO: +17.52025 Q1 · CFO: +15.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302005 Q42008 Q22011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32005 Q4 · Prepared remarks: +11.82006 Q1 · Prepared remarks: +10.52006 Q2 · Prepared remarks: +12.32006 Q3 · Prepared remarks: +9.92006 Q4 · Prepared remarks: +12.22007 Q1 · Prepared remarks: +10.32007 Q2 · Prepared remarks: +2.82007 Q3 · Prepared remarks: +7.82007 Q4 · Prepared remarks: -0.32008 Q1 · Prepared remarks: +1.52008 Q2 · Prepared remarks: -3.02008 Q3 · Prepared remarks: -8.22008 Q4 · Prepared remarks: -10.82009 Q1 · Prepared remarks: -9.02009 Q2 · Prepared remarks: -12.22009 Q3 · Prepared remarks: -10.02009 Q4 · Prepared remarks: -1.12010 Q1 · Prepared remarks: -11.22010 Q3 · Prepared remarks: +0.02010 Q4 · Prepared remarks: -0.72011 Q1 · Prepared remarks: +4.92011 Q2 · Prepared remarks: +11.02011 Q3 · Prepared remarks: -0.72011 Q4 · Prepared remarks: -1.52012 Q1 · Prepared remarks: +6.52012 Q2 · Prepared remarks: +1.92012 Q3 · Prepared remarks: +3.42012 Q4 · Prepared remarks: -5.02013 Q1 · Prepared remarks: +1.52013 Q2 · Prepared remarks: +1.42013 Q3 · Prepared remarks: +4.02013 Q4 · Prepared remarks: +5.42014 Q1 · Prepared remarks: -2.02014 Q2 · Prepared remarks: +5.92014 Q3 · Prepared remarks: +3.52014 Q4 · Prepared remarks: +7.52015 Q1 · Prepared remarks: +9.92015 Q2 · Prepared remarks: +13.02015 Q3 · Prepared remarks: +9.32015 Q4 · Prepared remarks: +6.82016 Q1 · Prepared remarks: +6.52016 Q2 · Prepared remarks: +10.52016 Q3 · Prepared remarks: +9.82016 Q4 · Prepared remarks: +10.02017 Q1 · Prepared remarks: +2.72017 Q2 · Prepared remarks: +5.82017 Q3 · Prepared remarks: +9.72017 Q4 · Prepared remarks: +16.62018 Q1 · Prepared remarks: +24.42018 Q2 · Prepared remarks: +11.92018 Q3 · Prepared remarks: +16.92018 Q4 · Prepared remarks: +4.72019 Q1 · Prepared remarks: +5.22019 Q2 · Prepared remarks: +4.92019 Q3 · Prepared remarks: +7.62019 Q4 · Prepared remarks: +14.72020 Q1 · Prepared remarks: -4.62020 Q2 · Prepared remarks: -0.72020 Q3 · Prepared remarks: +0.42020 Q4 · Prepared remarks: +6.52021 Q1 · Prepared remarks: +8.52021 Q2 · Prepared remarks: +13.72021 Q3 · Prepared remarks: +6.02021 Q4 · Prepared remarks: +11.32022 Q1 · Prepared remarks: +8.42022 Q2 · Prepared remarks: +5.02022 Q3 · Prepared remarks: +8.32022 Q4 · Prepared remarks: +7.92023 Q1 · Prepared remarks: +20.42023 Q2 · Prepared remarks: +15.52023 Q3 · Prepared remarks: +18.82023 Q4 · Prepared remarks: +21.02024 Q1 · Prepared remarks: +0.02024 Q2 · Prepared remarks: +16.52024 Q3 · Prepared remarks: +24.72024 Q4 · Prepared remarks: +25.72025 Q1 · Prepared remarks: +15.32005 Q4 · Q&A responses: +10.42006 Q1 · Q&A responses: +14.72006 Q2 · Q&A responses: +18.92006 Q3 · Q&A responses: +12.52006 Q4 · Q&A responses: +21.72007 Q1 · Q&A responses: +12.02007 Q2 · Q&A responses: +9.12007 Q3 · Q&A responses: +4.92007 Q4 · Q&A responses: +8.02008 Q1 · Q&A responses: +4.52008 Q2 · Q&A responses: +5.52008 Q3 · Q&A responses: +0.62008 Q4 · Q&A responses: +7.42009 Q1 · Q&A responses: +8.42009 Q2 · Q&A responses: +2.12009 Q3 · Q&A responses: +5.02009 Q4 · Q&A responses: +6.82010 Q1 · Q&A responses: +2.02010 Q3 · Q&A responses: +9.62010 Q4 · Q&A responses: +7.92011 Q1 · Q&A responses: +15.02011 Q2 · Q&A responses: +12.12011 Q3 · Q&A responses: +8.92011 Q4 · Q&A responses: +6.62012 Q1 · Q&A responses: +10.62012 Q2 · Q&A responses: +7.02012 Q3 · Q&A responses: +5.02012 Q4 · Q&A responses: -13.62013 Q1 · Q&A responses: +9.62013 Q2 · Q&A responses: +10.42013 Q3 · Q&A responses: +5.12013 Q4 · Q&A responses: +7.22014 Q1 · Q&A responses: -3.92014 Q2 · Q&A responses: +6.22014 Q3 · Q&A responses: +7.12014 Q4 · Q&A responses: +8.92015 Q1 · Q&A responses: +13.12015 Q2 · Q&A responses: +9.32015 Q3 · Q&A responses: +7.02015 Q4 · Q&A responses: +1.82016 Q1 · Q&A responses: +6.02016 Q2 · Q&A responses: +4.22016 Q3 · Q&A responses: +7.22016 Q4 · Q&A responses: +8.92017 Q1 · Q&A responses: +12.62017 Q2 · Q&A responses: +9.62017 Q3 · Q&A responses: +9.42017 Q4 · Q&A responses: +7.52018 Q1 · Q&A responses: +7.72018 Q2 · Q&A responses: +14.42018 Q3 · Q&A responses: +10.02018 Q4 · Q&A responses: +8.32019 Q1 · Q&A responses: +10.92019 Q2 · Q&A responses: +10.42019 Q3 · Q&A responses: +7.12019 Q4 · Q&A responses: +9.92020 Q1 · Q&A responses: -1.82020 Q2 · Q&A responses: +1.42020 Q3 · Q&A responses: +5.42020 Q4 · Q&A responses: +5.12021 Q1 · Q&A responses: +15.52021 Q2 · Q&A responses: +8.22021 Q3 · Q&A responses: +13.12021 Q4 · Q&A responses: +11.32022 Q1 · Q&A responses: +11.42022 Q2 · Q&A responses: +11.62022 Q3 · Q&A responses: +8.22022 Q4 · Q&A responses: +9.42023 Q1 · Q&A responses: +5.82023 Q2 · Q&A responses: +9.52023 Q3 · Q&A responses: +15.32023 Q4 · Q&A responses: +12.62024 Q1 · Q&A responses: +6.02024 Q2 · Q&A responses: +15.22024 Q3 · Q&A responses: +10.52024 Q4 · Q&A responses: +14.82025 Q1 · Q&A responses: +9.9
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

$2.95$9.90$16.852005 Q42008 Q22011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32014 Q1: $3.912014 Q2: $4.032014 Q3: $4.262014 Q4: $4.342015 Q1: $4.562015 Q2: $4.752015 Q3: $4.852015 Q4: $4.942016 Q1: $5.192016 Q2: $5.462016 Q3: $5.662016 Q4: $5.832017 Q1: $6.182017 Q2: $6.532017 Q3: $6.832017 Q4: $7.232018 Q1: $8.772018 Q2: $9.022018 Q3: $9.232018 Q4: $9.312019 Q1: $9.322019 Q2: $9.552019 Q3: $9.932019 Q4: $10.422020 Q1: $10.562020 Q2: $10.582020 Q3: $11.432020 Q4: $11.882021 Q1: $12.622021 Q2: $13.312021 Q3: $13.972021 Q4: $14.662022 Q1: $14.062022 Q2: $13.722022 Q3: $13.282022 Q4: $12.592023 Q1: $12.962023 Q2: $13.502023 Q3: $13.962023 Q4: $14.392024 Q1: $14.502024 Q2: $15.102024 Q3: $15.89

Forward P/E

16.7625.3133.872005 Q42008 Q22011 Q12013 Q32016 Q12018 Q32021 Q12023 Q32014 Q1: 20.172014 Q2: 20.602014 Q3: 20.242014 Q4: 20.402015 Q1: 23.642015 Q2: 21.902015 Q3: 19.512015 Q4: 19.542016 Q1: 18.232016 Q2: 19.632016 Q3: 21.462016 Q4: 19.712017 Q1: 21.092017 Q2: 22.572017 Q3: 22.482017 Q4: 23.382018 Q1: 21.952018 Q2: 23.002018 Q3: 23.082018 Q4: 17.942019 Q1: 21.432019 Q2: 24.142019 Q3: 25.642019 Q4: 25.862020 Q1: 18.282020 Q2: 30.842020 Q3: 31.282020 Q4: 27.012021 Q1: 27.742021 Q2: 29.512021 Q3: 32.352021 Q4: 32.672022 Q1: 27.902022 Q2: 23.412022 Q3: 26.452022 Q4: 28.102023 Q1: 25.772023 Q2: 29.122023 Q3: 27.932023 Q4: 30.252024 Q1: 29.522024 Q2: 28.862024 Q3: 32.69

Divergence watch ⚑

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

  • 2015 Q3 tone ↓ -3.4 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q4 tone ↓ -5.2 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -2.2 fwd EPS ↑ +0.35 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↓ -13.5 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -2.5 fwd EPS ↑ +0.69 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-29+9.0——View →
2024 Q42025-02-11+16.2——View →
2024 Q32024-10-24+15.8$15.8932.7View →
2024 Q22024-07-30+12.1$15.1028.9View →
2024 Q12024-04-25-3.2$14.5029.5View →
2023 Q42024-02-08+14.5$14.3930.2View →
2023 Q32023-11-02+14.0$13.9627.9View →
2023 Q22023-07-27+9.5$13.5029.1View →