Subtext

Steel Dynamics, Inc. STLD

SectorMaterials
Transcripts21
Date range2020-04-21 – 2025-04-23
Calls charted21

Sentiment timeline

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

-19-9+0+9+192020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +1.12020 Q2 · Overall: +8.82020 Q3 · Overall: +14.32020 Q4 · Overall: +11.32021 Q1 · Overall: +12.82021 Q2 · Overall: +10.92021 Q3 · Overall: +6.82021 Q4 · Overall: +10.32022 Q1 · Overall: +8.32022 Q2 · Overall: +14.12022 Q3 · Overall: +13.22022 Q4 · Overall: +14.72023 Q1 · Overall: +16.32023 Q2 · Overall: +12.92023 Q3 · Overall: +9.72023 Q4 · Overall: +12.62024 Q1 · Overall: +5.62024 Q2 · Overall: +12.62024 Q3 · Overall: +12.72024 Q4 · Overall: +15.02025 Q1 · Overall: +13.1
Overall

CEO vs CFO

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

-28-14+0+14+282020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +7.62020 Q2 · CEO: +13.32020 Q3 · CEO: +18.52020 Q4 · CEO: +14.72021 Q1 · CEO: +19.22021 Q2 · CEO: +13.72021 Q3 · CEO: +10.72021 Q4 · CEO: +11.62022 Q1 · CEO: +9.92022 Q2 · CEO: +20.22022 Q3 · CEO: +17.62022 Q4 · CEO: +18.32023 Q1 · CEO: +21.02023 Q2 · CEO: +22.12023 Q3 · CEO: +18.22023 Q4 · CEO: +18.62024 Q1 · CEO: +17.32024 Q2 · CEO: +18.42024 Q3 · CEO: +15.42024 Q4 · CEO: +15.22025 Q1 · CEO: +16.52020 Q1 · CFO: +5.82020 Q2 · CFO: +12.42020 Q3 · CFO: +15.62020 Q4 · CFO: +18.52021 Q1 · CFO: +19.92021 Q2 · CFO: +24.12021 Q3 · CFO: +16.52021 Q4 · CFO: +19.72022 Q1 · CFO: +17.02022 Q2 · CFO: +18.62022 Q3 · CFO: +15.52022 Q4 · CFO: +19.42023 Q1 · CFO: +17.12023 Q2 · CFO: +13.52023 Q3 · CFO: +11.92023 Q4 · CFO: +13.52024 Q1 · CFO: +12.12024 Q2 · CFO: +13.72024 Q3 · CFO: +10.62024 Q4 · CFO: +12.32025 Q1 · CFO: +9.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-52-26+0+26+522020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: +9.42020 Q2 · Prepared remarks: +12.92020 Q3 · Prepared remarks: +18.42020 Q4 · Prepared remarks: +22.02021 Q1 · Prepared remarks: +23.32021 Q2 · Prepared remarks: +24.12021 Q3 · Prepared remarks: +23.52021 Q4 · Prepared remarks: +19.62022 Q1 · Prepared remarks: +20.52022 Q2 · Prepared remarks: +25.62022 Q3 · Prepared remarks: +23.72022 Q4 · Prepared remarks: +21.92023 Q1 · Prepared remarks: +30.62023 Q2 · Prepared remarks: +25.72023 Q3 · Prepared remarks: +18.72023 Q4 · Prepared remarks: +27.52024 Q1 · Prepared remarks: +44.92024 Q2 · Prepared remarks: +18.32024 Q3 · Prepared remarks: +14.82024 Q4 · Prepared remarks: +17.62025 Q1 · Prepared remarks: +20.82020 Q1 · Q&A responses: +5.32020 Q2 · Q&A responses: +13.12020 Q3 · Q&A responses: +11.12020 Q4 · Q&A responses: +8.22021 Q1 · Q&A responses: +11.32021 Q2 · Q&A responses: +7.52021 Q3 · Q&A responses: +3.62021 Q4 · Q&A responses: +8.92022 Q1 · Q&A responses: +5.22022 Q2 · Q&A responses: +4.52022 Q3 · Q&A responses: +10.52022 Q4 · Q&A responses: +11.42023 Q1 · Q&A responses: +9.52023 Q2 · Q&A responses: +9.62023 Q3 · Q&A responses: +11.62023 Q4 · Q&A responses: +9.32024 Q1 · Q&A responses: +9.92024 Q2 · Q&A responses: +14.52024 Q3 · Q&A responses: +15.12024 Q4 · Q&A responses: +16.72025 Q1 · Q&A responses: +10.7
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$8.41$15.942020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $2.562020 Q2: $1.912020 Q3: $2.172020 Q4: $2.992021 Q1: $5.342021 Q2: $8.182021 Q3: $10.572021 Q4: $12.382022 Q1: $12.332022 Q2: $14.902022 Q3: $12.792022 Q4: $11.232023 Q1: $12.222023 Q2: $13.352023 Q3: $10.422023 Q4: $10.312024 Q1: $10.382024 Q2: $10.782024 Q3: $10.132024 Q4: $9.68

Forward P/E

3.989.5515.112020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 6.072020 Q2: 14.342020 Q3: 14.022020 Q4: 12.822021 Q1: 8.992021 Q2: 7.612021 Q3: 6.152021 Q4: 4.752022 Q1: 6.082022 Q2: 4.832022 Q3: 5.832022 Q4: 9.682023 Q1: 8.322023 Q2: 7.842023 Q3: 9.472023 Q4: 11.192024 Q1: 12.912024 Q2: 11.602024 Q3: 11.362024 Q4: 12.06

Divergence watch ⚑

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

  • 2020 Q2 tone ↑ +7.7 fwd EPS ↓ -0.65 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -3.0 fwd EPS ↑ +0.82 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -4.1 fwd EPS ↑ +2.40 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↓ -3.4 fwd EPS ↑ +1.12 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q4 tone ↑ +2.9 fwd EPS ↓ -0.11 Tone rose while the forward EPS estimate was cut.
  • 2024 Q4 tone ↑ +2.4 fwd EPS ↓ -0.45 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-23+13.1——View →
2024 Q42025-01-23+15.0$9.6812.1View →
2024 Q32024-10-17+12.7$10.1311.4View →
2024 Q22024-07-18+12.6$10.7811.6View →
2024 Q12024-04-24+5.6$10.3812.9View →
2023 Q42024-01-24+12.6$10.3111.2View →
2023 Q32023-10-19+9.7$10.429.5View →
2023 Q22023-07-20+12.9$13.357.8View →