Subtext

The Travelers Companies, Inc. TRV

SectorFinancials
Transcripts70
Date range2008-01-29 – 2025-04-16
Calls charted70

Sentiment timeline

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

-22-11+0+11+222007 Q42010 Q12012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q4 · Overall: -8.02008 Q1 · Overall: +3.22008 Q2 · Overall: -6.02008 Q3 · Overall: -6.32008 Q4 · Overall: -6.92009 Q1 · Overall: +2.92009 Q2 · Overall: +5.62009 Q3 · Overall: +2.72009 Q4 · Overall: +0.22010 Q1 · Overall: -2.52010 Q2 · Overall: -6.02010 Q3 · Overall: -0.32010 Q4 · Overall: +0.42011 Q1 · Overall: +3.42011 Q2 · Overall: -5.52011 Q3 · Overall: -4.42011 Q4 · Overall: -1.02012 Q1 · Overall: +0.72012 Q2 · Overall: -1.62012 Q3 · Overall: +5.22012 Q4 · Overall: -3.32013 Q1 · Overall: -1.62013 Q2 · Overall: +6.02013 Q3 · Overall: -3.22013 Q4 · Overall: -1.12014 Q1 · Overall: +5.32014 Q2 · Overall: -2.82014 Q3 · Overall: +5.22014 Q4 · Overall: +8.02015 Q1 · Overall: +2.82015 Q2 · Overall: +6.82015 Q3 · Overall: +6.52015 Q4 · Overall: +4.92016 Q1 · Overall: +0.42016 Q2 · Overall: +1.02016 Q3 · Overall: -7.42016 Q4 · Overall: -6.72017 Q1 · Overall: +3.52017 Q2 · Overall: +1.82017 Q3 · Overall: -0.32017 Q4 · Overall: +8.52018 Q1 · Overall: +3.92018 Q2 · Overall: -0.12018 Q3 · Overall: +7.02018 Q4 · Overall: +4.82019 Q1 · Overall: +7.32019 Q2 · Overall: -3.32019 Q3 · Overall: -1.02019 Q4 · Overall: +2.22020 Q1 · Overall: -9.82020 Q2 · Overall: -11.82020 Q3 · Overall: +0.22020 Q4 · Overall: +3.22021 Q1 · Overall: +11.02021 Q2 · Overall: +3.72021 Q3 · Overall: +0.12021 Q4 · Overall: +6.12022 Q1 · Overall: +4.02022 Q2 · Overall: +0.72022 Q3 · Overall: +4.42022 Q4 · Overall: +10.32023 Q1 · Overall: +5.22023 Q2 · Overall: +4.62023 Q3 · Overall: +5.72023 Q4 · Overall: +14.72024 Q1 · Overall: +14.12024 Q2 · Overall: +7.32024 Q3 · Overall: +19.02024 Q4 · Overall: +16.72025 Q1 · Overall: +10.4
Overall

CEO vs CFO

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

-35-17+0+17+352007 Q42010 Q12012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q4 · CEO: -10.52008 Q1 · CEO: +6.22008 Q2 · CEO: +0.52008 Q3 · CEO: +0.02008 Q4 · CEO: -6.92009 Q1 · CEO: -1.92009 Q2 · CEO: +3.12009 Q3 · CEO: +2.92009 Q4 · CEO: -3.82010 Q1 · CEO: +6.62010 Q2 · CEO: -11.42010 Q3 · CEO: +2.32010 Q4 · CEO: +1.92011 Q1 · CEO: +6.82011 Q2 · CEO: -6.52011 Q3 · CEO: +0.62011 Q4 · CEO: -2.32012 Q1 · CEO: +2.22012 Q2 · CEO: +0.02012 Q3 · CEO: +5.12012 Q4 · CEO: +1.42013 Q1 · CEO: -0.32013 Q2 · CEO: +10.62013 Q3 · CEO: -4.22013 Q4 · CEO: +6.72014 Q1 · CEO: +11.82014 Q2 · CEO: -0.22014 Q3 · CEO: +4.52014 Q4 · CEO: +2.52015 Q1 · CEO: +10.32015 Q2 · CEO: +10.12015 Q3 · CEO: +10.72015 Q4 · CEO: +13.02016 Q1 · CEO: +2.92016 Q2 · CEO: +5.32016 Q3 · CEO: +3.22016 Q4 · CEO: -2.22017 Q1 · CEO: +21.52017 Q2 · CEO: +8.12017 Q3 · CEO: +4.82017 Q4 · CEO: +17.72018 Q1 · CEO: +10.32018 Q2 · CEO: +2.22018 Q3 · CEO: +7.42018 Q4 · CEO: +16.92019 Q1 · CEO: +17.02019 Q2 · CEO: -8.02019 Q3 · CEO: -2.92019 Q4 · CEO: +10.22020 Q1 · CEO: -20.32020 Q2 · CEO: -17.62020 Q3 · CEO: +5.82020 Q4 · CEO: +9.12021 Q1 · CEO: +20.82021 Q2 · CEO: +11.42021 Q3 · CEO: +9.02021 Q4 · CEO: +15.92022 Q1 · CEO: +17.62022 Q2 · CEO: +8.22022 Q3 · CEO: +6.42022 Q4 · CEO: +30.12023 Q1 · CEO: +16.02023 Q2 · CEO: +16.72023 Q3 · CEO: +27.22023 Q4 · CEO: +25.22024 Q1 · CEO: +21.52024 Q2 · CEO: +16.42024 Q3 · CEO: +24.82024 Q4 · CEO: +29.42025 Q1 · CEO: +17.02007 Q4 · CFO: +6.62008 Q1 · CFO: -4.12008 Q2 · CFO: +0.02008 Q3 · CFO: -5.02008 Q4 · CFO: -7.32009 Q1 · CFO: -2.52009 Q2 · CFO: -6.02009 Q3 · CFO: -1.12009 Q4 · CFO: +8.92010 Q1 · CFO: -7.92010 Q2 · CFO: -9.02010 Q3 · CFO: -7.62010 Q4 · CFO: +5.52011 Q1 · CFO: +2.32011 Q2 · CFO: +1.42011 Q3 · CFO: -6.42011 Q4 · CFO: +6.62012 Q1 · CFO: +6.22012 Q2 · CFO: +10.12012 Q3 · CFO: +7.82012 Q4 · CFO: -4.42013 Q1 · CFO: +0.02013 Q2 · CFO: +5.42013 Q3 · CFO: +2.22013 Q4 · CFO: -7.92014 Q1 · CFO: -0.52014 Q2 · CFO: -1.02014 Q3 · CFO: +4.32014 Q4 · CFO: -1.52015 Q1 · CFO: -1.72015 Q2 · CFO: +6.42015 Q3 · CFO: +5.12015 Q4 · CFO: -1.62016 Q1 · CFO: -2.72016 Q2 · CFO: -11.62016 Q3 · CFO: -8.22016 Q4 · CFO: -8.92017 Q1 · CFO: +2.62017 Q2 · CFO: -0.72017 Q3 · CFO: +0.02017 Q4 · CFO: +4.42018 Q1 · CFO: +3.82018 Q2 · CFO: -1.22018 Q3 · CFO: +11.72018 Q4 · CFO: -5.02019 Q1 · CFO: +3.62019 Q2 · CFO: -6.02019 Q3 · CFO: +4.72019 Q4 · CFO: -0.92020 Q1 · CFO: -12.32020 Q2 · CFO: -17.72020 Q3 · CFO: -7.62020 Q4 · CFO: -4.32021 Q1 · CFO: -3.52021 Q2 · CFO: -3.22021 Q3 · CFO: +2.22021 Q4 · CFO: +5.72022 Q1 · CFO: -1.42022 Q2 · CFO: +5.02022 Q3 · CFO: +8.12022 Q4 · CFO: +5.82023 Q1 · CFO: +0.92023 Q3 · CFO: -4.62023 Q4 · CFO: +9.22024 Q1 · CFO: +9.52024 Q2 · CFO: +3.12024 Q3 · CFO: +21.32024 Q4 · CFO: +3.62025 Q1 · CFO: +11.5
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-46-23+0+23+462007 Q42010 Q12012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q4 · Prepared remarks: +0.02008 Q1 · Prepared remarks: +4.12008 Q2 · Prepared remarks: -3.22008 Q3 · Prepared remarks: -7.02008 Q4 · Prepared remarks: -1.82009 Q1 · Prepared remarks: +4.62009 Q2 · Prepared remarks: +14.12009 Q3 · Prepared remarks: +13.32009 Q4 · Prepared remarks: +8.92010 Q1 · Prepared remarks: +0.42010 Q2 · Prepared remarks: +0.02010 Q3 · Prepared remarks: +5.82010 Q4 · Prepared remarks: +12.72011 Q1 · Prepared remarks: +16.92011 Q2 · Prepared remarks: +1.32011 Q3 · Prepared remarks: +6.72011 Q4 · Prepared remarks: +6.82012 Q1 · Prepared remarks: +21.12012 Q2 · Prepared remarks: +11.32012 Q3 · Prepared remarks: +18.82012 Q4 · Prepared remarks: +12.72013 Q1 · Prepared remarks: +6.32013 Q2 · Prepared remarks: +15.02013 Q3 · Prepared remarks: +7.72013 Q4 · Prepared remarks: +5.22014 Q1 · Prepared remarks: +18.02014 Q2 · Prepared remarks: +5.02014 Q3 · Prepared remarks: +22.12014 Q4 · Prepared remarks: +20.02015 Q1 · Prepared remarks: +18.22015 Q2 · Prepared remarks: +20.02015 Q3 · Prepared remarks: +26.02015 Q4 · Prepared remarks: +15.22016 Q1 · Prepared remarks: +11.92016 Q2 · Prepared remarks: +13.92016 Q3 · Prepared remarks: +0.32016 Q4 · Prepared remarks: +4.62017 Q1 · Prepared remarks: +15.02017 Q2 · Prepared remarks: +11.32017 Q3 · Prepared remarks: +5.62017 Q4 · Prepared remarks: +13.32018 Q1 · Prepared remarks: +23.02018 Q2 · Prepared remarks: +7.32018 Q3 · Prepared remarks: +24.82018 Q4 · Prepared remarks: +14.82019 Q1 · Prepared remarks: +26.52019 Q2 · Prepared remarks: +4.42019 Q3 · Prepared remarks: +10.72019 Q4 · Prepared remarks: +17.62020 Q1 · Prepared remarks: -3.82020 Q2 · Prepared remarks: -12.62020 Q3 · Prepared remarks: +11.12020 Q4 · Prepared remarks: +16.72021 Q1 · Prepared remarks: +11.22021 Q2 · Prepared remarks: +22.22021 Q3 · Prepared remarks: +10.82021 Q4 · Prepared remarks: +24.82022 Q1 · Prepared remarks: +17.62022 Q2 · Prepared remarks: +20.52022 Q3 · Prepared remarks: +18.42022 Q4 · Prepared remarks: +27.22023 Q1 · Prepared remarks: +22.82023 Q2 · Prepared remarks: +19.32023 Q3 · Prepared remarks: +25.32023 Q4 · Prepared remarks: +31.52024 Q1 · Prepared remarks: +31.02024 Q2 · Prepared remarks: +28.92024 Q3 · Prepared remarks: +39.62024 Q4 · Prepared remarks: +34.82025 Q1 · Prepared remarks: +34.82007 Q4 · Q&A responses: -12.52008 Q1 · Q&A responses: +3.02008 Q2 · Q&A responses: -4.42008 Q3 · Q&A responses: -2.82008 Q4 · Q&A responses: -10.12009 Q1 · Q&A responses: +0.92009 Q2 · Q&A responses: +0.02009 Q3 · Q&A responses: +0.02009 Q4 · Q&A responses: -3.12010 Q1 · Q&A responses: -1.52010 Q2 · Q&A responses: -8.12010 Q3 · Q&A responses: -3.02010 Q4 · Q&A responses: -3.42011 Q1 · Q&A responses: +2.82011 Q2 · Q&A responses: -4.82011 Q3 · Q&A responses: -7.22011 Q4 · Q&A responses: -2.12012 Q1 · Q&A responses: -4.62012 Q2 · Q&A responses: -5.92012 Q3 · Q&A responses: +0.02012 Q4 · Q&A responses: -7.42013 Q1 · Q&A responses: -1.42013 Q2 · Q&A responses: +6.32013 Q3 · Q&A responses: -5.62013 Q4 · Q&A responses: -0.62014 Q1 · Q&A responses: +2.32014 Q2 · Q&A responses: -3.72014 Q3 · Q&A responses: +0.02014 Q4 · Q&A responses: +1.02015 Q1 · Q&A responses: -4.22015 Q2 · Q&A responses: -0.42015 Q3 · Q&A responses: -0.72015 Q4 · Q&A responses: +0.32016 Q1 · Q&A responses: -0.62016 Q2 · Q&A responses: -2.82016 Q3 · Q&A responses: -7.32016 Q4 · Q&A responses: -6.12017 Q1 · Q&A responses: +1.02017 Q2 · Q&A responses: -3.02017 Q3 · Q&A responses: +0.52017 Q4 · Q&A responses: +9.02018 Q1 · Q&A responses: -3.82018 Q2 · Q&A responses: -1.52018 Q3 · Q&A responses: -1.62018 Q4 · Q&A responses: -0.62019 Q1 · Q&A responses: +2.22019 Q2 · Q&A responses: -7.22019 Q3 · Q&A responses: -10.02019 Q4 · Q&A responses: -2.52020 Q1 · Q&A responses: -16.52020 Q2 · Q&A responses: -8.52020 Q3 · Q&A responses: -9.22020 Q4 · Q&A responses: -5.82021 Q2 · Q&A responses: -11.42021 Q3 · Q&A responses: -2.52021 Q4 · Q&A responses: -2.02022 Q1 · Q&A responses: -1.62022 Q2 · Q&A responses: -6.82022 Q3 · Q&A responses: -0.62022 Q4 · Q&A responses: -3.12023 Q1 · Q&A responses: -3.32023 Q2 · Q&A responses: -6.82023 Q3 · Q&A responses: -3.22023 Q4 · Q&A responses: -1.62024 Q1 · Q&A responses: +4.52024 Q2 · Q&A responses: -1.32024 Q3 · Q&A responses: +2.92024 Q4 · Q&A responses: +1.52025 Q1 · Q&A responses: -0.4
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

$7.35$14.78$22.212007 Q42010 Q12012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: $8.382014 Q2: $9.262014 Q3: $9.262014 Q4: $9.352015 Q1: $9.552015 Q2: $9.422015 Q3: $9.612015 Q4: $9.802016 Q1: $9.792016 Q2: $9.742016 Q3: $9.762016 Q4: $9.592017 Q1: $9.612017 Q2: $9.512017 Q3: $9.162017 Q4: $9.532018 Q1: $10.922018 Q2: $10.892018 Q3: $10.972018 Q4: $11.322019 Q1: $11.252019 Q2: $11.532019 Q3: $11.302019 Q4: $10.752020 Q1: $10.532020 Q2: $9.652020 Q3: $9.922020 Q4: $10.452021 Q1: $11.412021 Q2: $11.702021 Q3: $12.382021 Q4: $12.562022 Q1: $13.212022 Q2: $14.042022 Q3: $14.432022 Q4: $14.702023 Q1: $14.972023 Q2: $15.882023 Q3: $15.922023 Q4: $17.492024 Q1: $18.832024 Q2: $19.522024 Q3: $19.842024 Q4: $21.18

Forward P/E

7.2610.8814.512007 Q42010 Q12012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: 9.932014 Q2: 10.312014 Q3: 10.122014 Q4: 11.172015 Q1: 11.472015 Q2: 10.592015 Q3: 10.612015 Q4: 11.692016 Q1: 11.722016 Q2: 11.472016 Q3: 11.652016 Q4: 12.552017 Q1: 12.802017 Q2: 13.462017 Q3: 13.262017 Q4: 14.012018 Q1: 12.782018 Q2: 11.912018 Q3: 12.072018 Q4: 10.532019 Q1: 11.822019 Q2: 13.152019 Q3: 12.962019 Q4: 12.622020 Q1: 7.762020 Q2: 11.892020 Q3: 11.412020 Q4: 13.152021 Q1: 13.842021 Q2: 13.062021 Q3: 12.732021 Q4: 12.612022 Q1: 13.582022 Q2: 11.792022 Q3: 11.322022 Q4: 12.702023 Q1: 11.122023 Q2: 10.932023 Q3: 10.252023 Q4: 10.592024 Q1: 11.872024 Q2: 10.682024 Q3: 12.092024 Q4: 11.14

Divergence watch ⚑

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

  • 2014 Q2 tone ↓ -8.2 fwd EPS ↑ +0.88 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↓ -5.2 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q2 tone ↑ +4.1 fwd EPS ↓ -0.13 Tone rose while the forward EPS estimate was cut.
  • 2018 Q1 tone ↓ -4.6 fwd EPS ↑ +1.39 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -2.1 fwd EPS ↑ +0.35 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -10.7 fwd EPS ↑ +0.28 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q3 tone ↑ +2.4 fwd EPS ↓ -0.23 Tone rose while the forward EPS estimate was cut.
  • 2019 Q4 tone ↑ +3.2 fwd EPS ↓ -0.55 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↓ -7.3 fwd EPS ↑ +0.29 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -3.6 fwd EPS ↑ +0.68 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -2.1 fwd EPS ↑ +0.64 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -3.3 fwd EPS ↑ +0.83 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↓ -5.1 fwd EPS ↑ +0.28 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q2 tone ↓ -6.8 fwd EPS ↑ +0.69 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q4 tone ↓ -2.3 fwd EPS ↑ +1.35 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-16+10.4——View →
2024 Q42025-01-22+16.7$21.1811.1View →
2024 Q32024-10-17+19.0$19.8412.1View →
2024 Q22024-07-19+7.3$19.5210.7View →
2024 Q12024-04-17+14.1$18.8311.9View →
2023 Q42024-01-19+14.7$17.4910.6View →
2023 Q32023-10-18+5.7$15.9210.2View →
2023 Q22023-07-20+4.6$15.8810.9View →