Subtext

U.S. Bancorp USB

SectorFinancials
Transcripts71
Date range2007-07-17 – 2025-04-16
Calls charted70

Sentiment timeline

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

-18-9+0+9+182007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · Overall: +2.52007 Q4 · Overall: +0.12008 Q1 · Overall: -5.62008 Q2 · Overall: -3.52008 Q3 · Overall: -10.72008 Q4 · Overall: -15.92009 Q1 · Overall: -6.22009 Q2 · Overall: -2.22009 Q3 · Overall: +1.92009 Q4 · Overall: -0.42010 Q1 · Overall: +0.42010 Q3 · Overall: +1.92010 Q4 · Overall: -0.82011 Q1 · Overall: -1.22011 Q2 · Overall: +4.72011 Q3 · Overall: +1.92011 Q4 · Overall: +5.52012 Q1 · Overall: +5.92012 Q2 · Overall: +3.02012 Q3 · Overall: +2.92012 Q4 · Overall: +3.62013 Q1 · Overall: +2.32013 Q2 · Overall: +3.72013 Q3 · Overall: +2.92013 Q4 · Overall: +1.72014 Q1 · Overall: +3.12014 Q2 · Overall: +7.02014 Q3 · Overall: +3.82014 Q4 · Overall: +9.32015 Q1 · Overall: +4.92015 Q2 · Overall: +8.82015 Q3 · Overall: +7.82015 Q4 · Overall: +5.42016 Q1 · Overall: +6.32016 Q2 · Overall: +4.22016 Q3 · Overall: +8.52016 Q4 · Overall: +7.82017 Q1 · Overall: +11.62017 Q2 · Overall: +6.62017 Q3 · Overall: +6.72017 Q4 · Overall: +7.32018 Q1 · Overall: +2.42018 Q2 · Overall: +6.52018 Q3 · Overall: +8.32018 Q4 · Overall: +4.92019 Q1 · Overall: +6.62019 Q2 · Overall: +3.22019 Q3 · Overall: +7.02019 Q4 · Overall: +5.52020 Q1 · Overall: -10.92020 Q2 · Overall: -3.32020 Q3 · Overall: +5.52020 Q4 · Overall: +5.92021 Q1 · Overall: +6.42021 Q2 · Overall: +9.92021 Q3 · Overall: +9.02021 Q4 · Overall: +7.42022 Q1 · Overall: +3.72022 Q2 · Overall: +3.92022 Q3 · Overall: +6.82022 Q4 · Overall: +3.62023 Q1 · Overall: +2.22023 Q2 · Overall: +5.72023 Q3 · Overall: +5.62023 Q4 · Overall: +6.52024 Q1 · Overall: -1.42024 Q2 · Overall: +4.62024 Q3 · Overall: +10.42024 Q4 · Overall: +11.22025 Q1 · Overall: +9.8
Overall

CEO vs CFO

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

-37-19+0+19+372007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · CEO: +9.12007 Q4 · CEO: +2.92008 Q1 · CEO: -2.12008 Q2 · CEO: +0.82008 Q3 · CEO: -2.02008 Q4 · CEO: -8.42009 Q1 · CEO: -0.42009 Q2 · CEO: +1.52009 Q3 · CEO: +3.62009 Q4 · CEO: +1.72010 Q1 · CEO: +6.12010 Q3 · CEO: +2.32010 Q4 · CEO: +3.32011 Q1 · CEO: +0.02011 Q2 · CEO: +7.02011 Q3 · CEO: +6.62011 Q4 · CEO: +11.12012 Q1 · CEO: +10.42012 Q2 · CEO: +8.42012 Q3 · CEO: +6.82012 Q4 · CEO: +11.92013 Q1 · CEO: +8.02013 Q2 · CEO: +10.42013 Q3 · CEO: +10.72013 Q4 · CEO: +4.52014 Q1 · CEO: +7.32014 Q2 · CEO: +9.02014 Q3 · CEO: +7.62014 Q4 · CEO: +12.02015 Q1 · CEO: +7.42015 Q3 · CEO: +9.02015 Q4 · CEO: +8.52016 Q2 · CEO: +7.12016 Q3 · CEO: +16.12016 Q4 · CEO: +11.22017 Q1 · CEO: +22.02017 Q2 · CEO: +13.82017 Q3 · CEO: +17.92017 Q4 · CEO: +18.42018 Q1 · CEO: +13.72018 Q2 · CEO: +15.02018 Q3 · CEO: +18.42018 Q4 · CEO: +8.82019 Q1 · CEO: +21.32019 Q2 · CEO: +12.62019 Q3 · CEO: +13.62019 Q4 · CEO: +16.42020 Q1 · CEO: -6.02020 Q2 · CEO: +1.72020 Q3 · CEO: +6.82020 Q4 · CEO: +16.92021 Q1 · CEO: +16.12021 Q2 · CEO: +19.52021 Q3 · CEO: +32.32021 Q4 · CEO: +14.72022 Q1 · CEO: +20.82022 Q2 · CEO: +11.62022 Q3 · CEO: +19.92022 Q4 · CEO: +23.42023 Q1 · CEO: +17.12023 Q2 · CEO: +20.92023 Q3 · CEO: +16.42023 Q4 · CEO: +21.12024 Q2 · CEO: +20.02024 Q3 · CEO: +21.22024 Q4 · CEO: +23.32007 Q4 · CFO: -5.02008 Q1 · CFO: +2.12008 Q2 · CFO: -8.12008 Q3 · CFO: -22.32008 Q4 · CFO: -23.92009 Q1 · CFO: -12.52009 Q2 · CFO: -0.82009 Q3 · CFO: +7.42009 Q4 · CFO: +2.52010 Q1 · CFO: +4.62010 Q3 · CFO: +1.42010 Q4 · CFO: -2.62011 Q1 · CFO: -0.52011 Q2 · CFO: +5.72011 Q3 · CFO: +6.02011 Q4 · CFO: +7.12012 Q1 · CFO: +8.72012 Q2 · CFO: +6.22012 Q3 · CFO: +9.52012 Q4 · CFO: -1.62013 Q1 · CFO: +0.02013 Q2 · CFO: +0.62013 Q3 · CFO: -1.62013 Q4 · CFO: +0.02014 Q1 · CFO: +1.72014 Q2 · CFO: +8.62014 Q3 · CFO: +3.72015 Q1 · CFO: +5.12015 Q3 · CFO: +8.12015 Q4 · CFO: +5.72016 Q2 · CFO: +2.12016 Q3 · CFO: +2.22016 Q4 · CFO: +6.52017 Q1 · CFO: +11.12017 Q2 · CFO: +7.72017 Q3 · CFO: +4.22017 Q4 · CFO: +4.22018 Q2 · CFO: +8.72018 Q3 · CFO: +11.22020 Q1 · CFO: -10.12020 Q2 · CFO: -5.12020 Q3 · CFO: +6.12020 Q4 · CFO: +7.52021 Q1 · CFO: +5.72021 Q2 · CFO: +12.52021 Q3 · CFO: +8.42021 Q4 · CFO: +6.72022 Q1 · CFO: +3.82022 Q2 · CFO: +5.72022 Q3 · CFO: +4.22022 Q4 · CFO: -0.72023 Q1 · CFO: -1.02023 Q2 · CFO: +6.82023 Q3 · CFO: +3.72023 Q4 · CFO: +6.22024 Q1 · CFO: +2.02024 Q2 · CFO: +2.02024 Q3 · CFO: +10.22024 Q4 · CFO: +11.52025 Q1 · CFO: +15.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-22-11+0+11+222007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32007 Q3 · Prepared remarks: +3.82007 Q4 · Prepared remarks: +4.22008 Q1 · Prepared remarks: +1.12008 Q2 · Prepared remarks: -2.82008 Q3 · Prepared remarks: -8.02008 Q4 · Prepared remarks: -16.52009 Q1 · Prepared remarks: -0.32009 Q2 · Prepared remarks: +0.02009 Q3 · Prepared remarks: +1.82009 Q4 · Prepared remarks: -2.72010 Q1 · Prepared remarks: +3.02010 Q3 · Prepared remarks: -1.72010 Q4 · Prepared remarks: +1.32011 Q1 · Prepared remarks: +1.32011 Q2 · Prepared remarks: +7.92011 Q3 · Prepared remarks: +12.02011 Q4 · Prepared remarks: +12.82012 Q1 · Prepared remarks: +9.82012 Q2 · Prepared remarks: +15.12012 Q3 · Prepared remarks: +13.22012 Q4 · Prepared remarks: +9.32013 Q1 · Prepared remarks: +4.52013 Q2 · Prepared remarks: +6.32013 Q3 · Prepared remarks: +4.92013 Q4 · Prepared remarks: +4.62014 Q1 · Prepared remarks: +6.72014 Q2 · Prepared remarks: +8.02014 Q3 · Prepared remarks: +7.12014 Q4 · Prepared remarks: +16.32015 Q1 · Prepared remarks: +5.62015 Q2 · Prepared remarks: +6.62015 Q3 · Prepared remarks: +10.32015 Q4 · Prepared remarks: +16.82016 Q1 · Prepared remarks: +14.42016 Q2 · Prepared remarks: +9.52016 Q3 · Prepared remarks: +9.42016 Q4 · Prepared remarks: +13.02017 Q1 · Prepared remarks: +16.52017 Q2 · Prepared remarks: +15.32017 Q3 · Prepared remarks: +18.12017 Q4 · Prepared remarks: +12.72018 Q1 · Prepared remarks: +18.72018 Q2 · Prepared remarks: +12.82018 Q3 · Prepared remarks: +13.82018 Q4 · Prepared remarks: +8.12019 Q1 · Prepared remarks: +8.92019 Q2 · Prepared remarks: +8.52019 Q3 · Prepared remarks: +10.92019 Q4 · Prepared remarks: +7.62020 Q1 · Prepared remarks: -11.72020 Q2 · Prepared remarks: -6.42020 Q3 · Prepared remarks: -1.12020 Q4 · Prepared remarks: +1.12021 Q1 · Prepared remarks: +9.72021 Q2 · Prepared remarks: +18.12021 Q3 · Prepared remarks: +19.32021 Q4 · Prepared remarks: +10.72022 Q1 · Prepared remarks: +11.62022 Q2 · Prepared remarks: +12.42022 Q3 · Prepared remarks: +8.72022 Q4 · Prepared remarks: +4.42023 Q1 · Prepared remarks: +10.42023 Q2 · Prepared remarks: +6.12023 Q3 · Prepared remarks: +6.02023 Q4 · Prepared remarks: +7.22024 Q1 · Prepared remarks: +16.92024 Q2 · Prepared remarks: +11.52024 Q3 · Prepared remarks: +11.62024 Q4 · Prepared remarks: +15.62025 Q1 · Prepared remarks: +14.82007 Q3 · Q&A responses: +5.42007 Q4 · Q&A responses: -1.62008 Q1 · Q&A responses: -5.22008 Q2 · Q&A responses: -0.52008 Q3 · Q&A responses: -6.82008 Q4 · Q&A responses: -10.52009 Q1 · Q&A responses: -11.32009 Q2 · Q&A responses: -1.72009 Q3 · Q&A responses: +6.32009 Q4 · Q&A responses: +4.62010 Q1 · Q&A responses: +4.52010 Q3 · Q&A responses: +4.72010 Q4 · Q&A responses: +1.62011 Q1 · Q&A responses: +0.52011 Q2 · Q&A responses: +5.52011 Q3 · Q&A responses: +2.12011 Q4 · Q&A responses: +6.22012 Q1 · Q&A responses: +8.82012 Q2 · Q&A responses: +3.32012 Q3 · Q&A responses: -0.62012 Q4 · Q&A responses: +5.42013 Q1 · Q&A responses: +5.12013 Q2 · Q&A responses: +5.42013 Q3 · Q&A responses: +5.82013 Q4 · Q&A responses: +3.22014 Q1 · Q&A responses: +5.02014 Q2 · Q&A responses: +8.62014 Q3 · Q&A responses: +5.02014 Q4 · Q&A responses: +11.12015 Q1 · Q&A responses: +7.42015 Q2 · Q&A responses: +11.22015 Q3 · Q&A responses: +9.32015 Q4 · Q&A responses: +5.42016 Q1 · Q&A responses: +6.62016 Q2 · Q&A responses: +3.12016 Q3 · Q&A responses: +10.82016 Q4 · Q&A responses: +9.12017 Q1 · Q&A responses: +12.92017 Q2 · Q&A responses: +7.12017 Q3 · Q&A responses: +5.72017 Q4 · Q&A responses: +6.52018 Q1 · Q&A responses: +6.72018 Q2 · Q&A responses: +9.52018 Q3 · Q&A responses: +13.42018 Q4 · Q&A responses: +4.72019 Q1 · Q&A responses: +8.62019 Q2 · Q&A responses: +2.52019 Q3 · Q&A responses: +9.22019 Q4 · Q&A responses: +8.82020 Q1 · Q&A responses: -4.12020 Q2 · Q&A responses: -0.32020 Q3 · Q&A responses: +11.52020 Q4 · Q&A responses: +14.62021 Q1 · Q&A responses: +10.62021 Q2 · Q&A responses: +13.72021 Q3 · Q&A responses: +9.12021 Q4 · Q&A responses: +9.62022 Q1 · Q&A responses: +5.02022 Q2 · Q&A responses: +5.12022 Q4 · Q&A responses: +3.82023 Q1 · Q&A responses: -0.32023 Q4 · Q&A responses: +11.62024 Q1 · Q&A responses: +4.92024 Q2 · Q&A responses: +6.52024 Q3 · Q&A responses: +16.92024 Q4 · Q&A responses: +11.72025 Q1 · Q&A responses: +13.2
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

$2.44$3.84$5.232007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: $3.232014 Q2: $3.232014 Q3: $3.282014 Q4: $3.292015 Q1: $3.332015 Q2: $3.372015 Q3: $3.422015 Q4: $3.422016 Q1: $3.402016 Q2: $3.402016 Q3: $3.372016 Q4: $3.442017 Q1: $3.582017 Q2: $3.652017 Q3: $3.712017 Q4: $3.722018 Q1: $4.142018 Q2: $4.212018 Q3: $4.292018 Q4: $4.362019 Q1: $4.402019 Q2: $4.422019 Q3: $4.382019 Q4: $4.432020 Q1: $4.232020 Q2: $2.632020 Q3: $2.752020 Q4: $3.202021 Q1: $3.892021 Q2: $4.532021 Q3: $4.632021 Q4: $4.342022 Q1: $4.612022 Q2: $4.822022 Q3: $4.892022 Q4: $5.042023 Q1: $5.042023 Q2: $4.622023 Q3: $4.322023 Q4: $3.982024 Q1: $4.032024 Q2: $4.072024 Q3: $4.182024 Q4: $4.34

Forward P/E

6.2711.1516.032007 Q32009 Q42012 Q22014 Q32016 Q42019 Q12021 Q22023 Q32014 Q1: 13.122014 Q2: 13.392014 Q3: 13.022014 Q4: 13.352015 Q1: 13.452015 Q2: 13.272015 Q3: 12.372015 Q4: 12.972016 Q1: 11.922016 Q2: 12.062016 Q3: 12.742016 Q4: 15.042017 Q1: 15.362017 Q2: 14.462017 Q3: 14.042017 Q4: 14.682018 Q1: 12.872018 Q2: 12.152018 Q3: 12.812018 Q4: 10.602019 Q1: 11.722019 Q2: 11.812019 Q3: 12.762019 Q4: 13.562020 Q1: 7.812020 Q2: 14.612020 Q3: 13.892020 Q4: 14.172021 Q1: 14.022021 Q2: 12.902021 Q3: 12.472021 Q4: 13.072022 Q1: 12.212022 Q2: 9.632022 Q3: 9.222022 Q4: 8.592023 Q1: 7.042023 Q2: 6.942023 Q3: 8.132023 Q4: 10.682024 Q1: 10.782024 Q2: 9.672024 Q3: 10.822024 Q4: 10.97

Divergence watch ⚑

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

  • 2014 Q3 tone ↓ -3.2 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q1 tone ↓ -4.4 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q2 tone ↓ -5.1 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -4.9 fwd EPS ↑ +0.42 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -3.4 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q2 tone ↑ +7.6 fwd EPS ↓ -1.59 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -3.8 fwd EPS ↑ +0.27 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q4 tone ↓ -3.3 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↑ +3.5 fwd EPS ↓ -0.41 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -7.9 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-04-16+9.8——View →
2024 Q42025-01-16+11.2$4.3411.0View →
2024 Q32024-10-16+10.4$4.1810.8View →
2024 Q22024-07-17+4.6$4.079.7View →
2024 Q12024-04-17-1.4$4.0310.8View →
2023 Q42024-01-17+6.5$3.9810.7View →
2023 Q32023-10-18+5.6$4.328.1View →
2023 Q22023-07-19+5.7$4.626.9View →