Subtext

VICI Properties Inc. VICI

SectorReal Estate
Transcripts21
Date range2020-05-01 – 2025-05-01
Calls charted21

Sentiment timeline

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

-15-7+0+7+152020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Overall: +0.72020 Q2 · Overall: +1.92020 Q3 · Overall: +5.22020 Q4 · Overall: +9.32021 Q1 · Overall: +7.82021 Q2 · Overall: +12.72021 Q3 · Overall: +9.12021 Q4 · Overall: +7.42022 Q1 · Overall: +6.32022 Q2 · Overall: +7.52022 Q3 · Overall: +9.22022 Q4 · Overall: +8.52023 Q1 · Overall: +9.32023 Q2 · Overall: +8.62023 Q3 · Overall: +6.62023 Q4 · Overall: +12.92024 Q1 · Overall: +8.92024 Q2 · Overall: +7.12024 Q3 · Overall: +7.22024 Q4 · Overall: +8.82025 Q1 · Overall: +9.3
Overall

CEO vs CFO

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

-27-14+0+14+272020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · CEO: +1.92020 Q2 · CEO: +6.72020 Q3 · CEO: +7.32020 Q4 · CEO: +19.02021 Q1 · CEO: +4.62021 Q2 · CEO: +15.32021 Q3 · CEO: +9.42021 Q4 · CEO: +9.22022 Q1 · CEO: +8.12022 Q2 · CEO: +3.92022 Q3 · CEO: +13.02022 Q4 · CEO: +11.52023 Q1 · CEO: +8.02023 Q2 · CEO: +12.22023 Q3 · CEO: +3.22023 Q4 · CEO: +15.92024 Q2 · CEO: +7.42024 Q3 · CEO: +7.42024 Q4 · CEO: +12.12025 Q1 · CEO: +14.02020 Q1 · CFO: -4.92020 Q2 · CFO: -8.42020 Q3 · CFO: +5.32020 Q4 · CFO: +3.52021 Q1 · CFO: +4.12021 Q2 · CFO: +23.62021 Q3 · CFO: +11.52021 Q4 · CFO: +5.02022 Q1 · CFO: -0.52022 Q2 · CFO: +6.82022 Q3 · CFO: +7.22022 Q4 · CFO: +4.32023 Q1 · CFO: +16.22023 Q2 · CFO: +9.42023 Q3 · CFO: +10.82023 Q4 · CFO: +7.02024 Q2 · CFO: +13.52024 Q3 · CFO: +13.92024 Q4 · CFO: +3.32025 Q1 · CFO: +3.4
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-30-15+0+15+302020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1 · Prepared remarks: -2.92020 Q2 · Prepared remarks: +4.02020 Q3 · Prepared remarks: +2.72020 Q4 · Prepared remarks: +14.92021 Q1 · Prepared remarks: +4.12021 Q2 · Prepared remarks: +9.42021 Q3 · Prepared remarks: +7.12021 Q4 · Prepared remarks: +6.42022 Q1 · Prepared remarks: +5.72022 Q2 · Prepared remarks: +4.72022 Q3 · Prepared remarks: +11.82022 Q4 · Prepared remarks: +6.72023 Q1 · Prepared remarks: +7.62023 Q2 · Prepared remarks: +20.42023 Q3 · Prepared remarks: +6.82023 Q4 · Prepared remarks: +15.92024 Q1 · Prepared remarks: +26.42024 Q2 · Prepared remarks: +11.02024 Q3 · Prepared remarks: +10.92024 Q4 · Prepared remarks: +10.12025 Q1 · Prepared remarks: +4.72020 Q1 · Q&A responses: +5.12020 Q2 · Q&A responses: +2.92020 Q3 · Q&A responses: +11.82020 Q4 · Q&A responses: +12.92021 Q1 · Q&A responses: +12.42021 Q2 · Q&A responses: +16.82021 Q3 · Q&A responses: +13.12021 Q4 · Q&A responses: +10.02022 Q1 · Q&A responses: +7.22022 Q2 · Q&A responses: +14.12022 Q3 · Q&A responses: +10.32022 Q4 · Q&A responses: +10.52023 Q1 · Q&A responses: +13.92023 Q2 · Q&A responses: +7.22023 Q3 · Q&A responses: +7.62023 Q4 · Q&A responses: +13.32024 Q1 · Q&A responses: +13.42024 Q2 · Q&A responses: +10.12024 Q3 · Q&A responses: +9.22024 Q4 · Q&A responses: +12.22025 Q1 · Q&A responses: +16.1
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

$1.45$2.12$2.792020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: $1.682020 Q2: $1.542020 Q3: $1.652020 Q4: $1.822021 Q1: $1.972021 Q2: $2.042021 Q3: $2.062021 Q4: $1.992022 Q1: $2.012022 Q2: $1.932022 Q3: $2.132022 Q4: $2.392023 Q1: $2.402023 Q2: $2.502023 Q3: $2.532023 Q4: $2.642024 Q1: $2.632024 Q2: $2.652024 Q3: $2.70

Forward P/E

5.9211.3616.792020 Q12020 Q42021 Q32022 Q22023 Q12023 Q42024 Q32020 Q1: 6.672020 Q2: 14.872020 Q3: 15.212020 Q4: 14.312021 Q1: 14.732021 Q2: 16.042021 Q3: 14.642021 Q4: 13.932022 Q1: 13.562022 Q2: 15.212022 Q3: 15.602022 Q4: 14.312023 Q1: 13.172023 Q2: 12.932023 Q3: 12.362023 Q4: 11.942024 Q1: 11.162024 Q2: 10.632024 Q3: 12.23

Divergence watch ⚑

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

  • 2021 Q3 tone ↓ -3.6 fwd EPS ↑ +0.02 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+9.3——View →
2024 Q42025-02-21+8.8——View →
2024 Q32024-11-01+7.2$2.7012.2View →
2024 Q22024-08-01+7.1$2.6510.6View →
2024 Q12024-05-02+8.9$2.6311.2View →
2023 Q42024-02-23+12.9$2.6411.9View →
2023 Q32023-10-26+6.6$2.5312.4View →
2023 Q22023-07-27+8.6$2.5012.9View →