Subtext

Ulta Beauty, Inc. ULTA

SectorConsumer Discretionary
Transcripts36
Date range2016-05-26 – 2025-03-13
Calls charted36

Sentiment timeline

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

-33-17+0+17+332016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Overall: +9.42016 Q2 · Overall: +17.62016 Q3 · Overall: +13.32016 Q4 · Overall: +10.82017 Q1 · Overall: +15.82017 Q2 · Overall: +12.62017 Q3 · Overall: +11.92017 Q4 · Overall: +19.22018 Q1 · Overall: +15.22018 Q2 · Overall: +16.82018 Q3 · Overall: +14.32018 Q4 · Overall: +9.62019 Q1 · Overall: +11.42019 Q2 · Overall: +8.82019 Q3 · Overall: +10.82019 Q4 · Overall: +1.92020 Q1 · Overall: +6.22020 Q2 · Overall: +4.32020 Q3 · Overall: +6.22020 Q4 · Overall: +4.82021 Q1 · Overall: +10.12021 Q2 · Overall: +21.72021 Q3 · Overall: +10.92021 Q4 · Overall: +2.62022 Q1 · Overall: +17.32022 Q2 · Overall: +15.32022 Q3 · Overall: +8.22022 Q4 · Overall: +5.12023 Q1 · Overall: +9.02023 Q2 · Overall: +14.92023 Q3 · Overall: +8.72023 Q4 · Overall: +11.92024 Q1 · Overall: +20.72024 Q2 · Overall: +11.12024 Q3 · Overall: +28.72024 Q4 · Overall: +14.3
Overall

CEO vs CFO

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

-77-38+0+38+772016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · CEO: +16.02016 Q2 · CEO: +30.32016 Q3 · CEO: +30.52016 Q4 · CEO: +21.32017 Q1 · CEO: +17.62017 Q2 · CEO: +27.72017 Q3 · CEO: +22.02017 Q4 · CEO: +29.62018 Q1 · CEO: +26.62018 Q2 · CEO: +28.02018 Q4 · CEO: +16.22019 Q1 · CEO: +26.12019 Q2 · CEO: +25.32019 Q3 · CEO: +13.62019 Q4 · CEO: +9.32020 Q1 · CEO: +26.42020 Q3 · CEO: +17.62020 Q4 · CEO: +21.62021 Q1 · CEO: +66.72021 Q2 · CEO: +45.22021 Q3 · CEO: +20.22021 Q4 · CEO: +9.42022 Q1 · CEO: +41.42022 Q2 · CEO: +37.82022 Q3 · CEO: +25.22022 Q4 · CEO: +21.42023 Q1 · CEO: +21.42023 Q2 · CEO: +46.32023 Q3 · CEO: +21.42023 Q4 · CEO: +28.32024 Q1 · CEO: +32.02024 Q2 · CEO: +22.22024 Q3 · CEO: +41.02024 Q4 · CEO: +25.62016 Q1 · CFO: +6.02016 Q2 · CFO: +7.72016 Q3 · CFO: +7.52016 Q4 · CFO: +11.62017 Q1 · CFO: +15.62017 Q2 · CFO: +10.72017 Q3 · CFO: +5.42017 Q4 · CFO: +13.42018 Q1 · CFO: +9.62018 Q2 · CFO: +11.72018 Q4 · CFO: +12.42019 Q1 · CFO: +6.52019 Q2 · CFO: +0.02019 Q3 · CFO: +8.62019 Q4 · CFO: +12.62020 Q1 · CFO: -20.72020 Q3 · CFO: +0.02020 Q4 · CFO: +7.32021 Q1 · CFO: +20.62021 Q2 · CFO: +22.92021 Q3 · CFO: +16.92021 Q4 · CFO: +22.72022 Q1 · CFO: +20.82022 Q2 · CFO: +5.42022 Q3 · CFO: +0.02022 Q4 · CFO: +18.72023 Q1 · CFO: +27.32023 Q2 · CFO: +16.82023 Q3 · CFO: +4.32023 Q4 · CFO: +20.62024 Q1 · CFO: +9.82024 Q2 · CFO: -1.82024 Q3 · CFO: +4.72024 Q4 · CFO: +15.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-72-36+0+36+722016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1 · Prepared remarks: +52.42016 Q2 · Prepared remarks: +50.22016 Q3 · Prepared remarks: +18.62016 Q4 · Prepared remarks: +41.22017 Q1 · Prepared remarks: +31.22017 Q2 · Prepared remarks: +34.12017 Q3 · Prepared remarks: +20.82017 Q4 · Prepared remarks: +32.32018 Q1 · Prepared remarks: +18.12018 Q2 · Prepared remarks: +24.62018 Q3 · Prepared remarks: +56.62018 Q4 · Prepared remarks: +37.62019 Q1 · Prepared remarks: +30.82019 Q2 · Prepared remarks: +11.42019 Q3 · Prepared remarks: +26.82019 Q4 · Prepared remarks: +5.42020 Q1 · Prepared remarks: +6.02020 Q2 · Prepared remarks: +23.72020 Q3 · Prepared remarks: +24.72020 Q4 · Prepared remarks: +24.02021 Q1 · Prepared remarks: +49.52021 Q2 · Prepared remarks: +62.52021 Q3 · Prepared remarks: +22.62021 Q4 · Prepared remarks: +42.42022 Q1 · Prepared remarks: +48.02022 Q2 · Prepared remarks: +35.42022 Q3 · Prepared remarks: +44.62022 Q4 · Prepared remarks: +34.72023 Q1 · Prepared remarks: +24.82023 Q2 · Prepared remarks: +50.32023 Q3 · Prepared remarks: +26.32023 Q4 · Prepared remarks: +26.52024 Q1 · Prepared remarks: +25.22024 Q2 · Prepared remarks: +16.12024 Q3 · Prepared remarks: +32.02024 Q4 · Prepared remarks: +26.12016 Q1 · Q&A responses: +12.62016 Q2 · Q&A responses: +21.92016 Q3 · Q&A responses: +22.62016 Q4 · Q&A responses: +13.92017 Q1 · Q&A responses: +21.82017 Q2 · Q&A responses: +19.02017 Q3 · Q&A responses: +15.52017 Q4 · Q&A responses: +25.22018 Q1 · Q&A responses: +20.42018 Q2 · Q&A responses: +23.92018 Q3 · Q&A responses: +20.62018 Q4 · Q&A responses: +15.12019 Q1 · Q&A responses: +16.52019 Q2 · Q&A responses: +21.72019 Q3 · Q&A responses: +18.52019 Q4 · Q&A responses: +16.72020 Q1 · Q&A responses: +10.52020 Q2 · Q&A responses: +3.42020 Q3 · Q&A responses: +12.12020 Q4 · Q&A responses: +13.92021 Q1 · Q&A responses: +17.62021 Q2 · Q&A responses: +29.32021 Q3 · Q&A responses: +19.42021 Q4 · Q&A responses: +0.02022 Q1 · Q&A responses: +27.82022 Q2 · Q&A responses: +25.42022 Q3 · Q&A responses: +10.52022 Q4 · Q&A responses: +7.02023 Q1 · Q&A responses: +16.92023 Q2 · Q&A responses: +23.22023 Q3 · Q&A responses: +15.42023 Q4 · Q&A responses: +17.92024 Q1 · Q&A responses: +23.12024 Q2 · Q&A responses: +16.12024 Q3 · Q&A responses: +29.42024 Q4 · Q&A responses: +11.8
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

$4.48$16.78$29.082016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: $6.182016 Q2: $6.692016 Q3: $7.212016 Q4: $7.872017 Q1: $8.352017 Q2: $8.972017 Q3: $9.382017 Q4: $9.692018 Q1: $11.262018 Q2: $11.712018 Q3: $12.172018 Q4: $12.602019 Q1: $13.112019 Q2: $13.802019 Q3: $12.882019 Q4: $13.022020 Q1: $12.692020 Q2: $7.192020 Q3: $8.392020 Q4: $9.982021 Q1: $10.082021 Q2: $12.802021 Q3: $16.022021 Q4: $17.802022 Q1: $18.852022 Q2: $20.862022 Q3: $22.442022 Q4: $23.982023 Q1: $25.562023 Q2: $25.762023 Q3: $26.482023 Q4: $26.872024 Q1: $27.382024 Q2: $26.862024 Q3: $24.36

Forward P/E

8.0922.8837.672016 Q12017 Q22018 Q32019 Q42021 Q12022 Q22023 Q32024 Q42016 Q1: 30.762016 Q2: 35.632016 Q3: 32.912016 Q4: 32.152017 Q1: 34.472017 Q2: 33.682017 Q3: 24.142017 Q4: 22.202018 Q1: 17.942018 Q2: 21.132018 Q3: 23.602018 Q4: 18.992019 Q1: 24.062019 Q2: 25.942019 Q3: 17.802019 Q4: 19.212020 Q1: 10.132020 Q2: 31.092020 Q3: 28.592020 Q4: 27.062021 Q1: 31.652021 Q2: 25.922021 Q3: 23.472021 Q4: 22.172022 Q1: 20.452022 Q2: 19.452022 Q3: 18.992022 Q4: 19.302023 Q1: 20.512023 Q2: 17.222023 Q3: 15.642023 Q4: 18.352024 Q1: 20.712024 Q2: 14.242024 Q3: 16.53

Divergence watch ⚑

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

  • 2016 Q3 tone ↓ -4.3 fwd EPS ↑ +0.52 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -2.5 fwd EPS ↑ +0.66 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -3.2 fwd EPS ↑ +0.63 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -4.0 fwd EPS ↑ +1.57 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q3 tone ↓ -2.5 fwd EPS ↑ +0.46 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -4.8 fwd EPS ↑ +0.43 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q2 tone ↓ -2.6 fwd EPS ↑ +0.69 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q4 tone ↓ -8.9 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q1 tone ↑ +4.4 fwd EPS ↓ -0.32 Tone rose while the forward EPS estimate was cut.
  • 2021 Q3 tone ↓ -10.8 fwd EPS ↑ +3.22 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -8.3 fwd EPS ↑ +1.78 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -7.2 fwd EPS ↑ +1.58 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -3.0 fwd EPS ↑ +1.54 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↓ -6.2 fwd EPS ↑ +0.73 Tone cooled even as the forward EPS estimate rose.
  • 2024 Q3 tone ↑ +17.6 fwd EPS ↓ -2.50 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2024 Q42025-03-13+14.3——View →
2024 Q32024-12-05+28.7$24.3616.5View →
2024 Q22024-08-29+11.1$26.8614.2View →
2024 Q12024-05-30+20.7$27.3820.7View →
2023 Q42024-03-14+11.9$26.8718.4View →
2023 Q32023-11-30+8.7$26.4815.6View →
2023 Q22023-08-24+14.9$25.7617.2View →
2023 Q12023-05-25+9.0$25.5620.5View →