Subtext

Vistra Corp. VST

SectorUtilities
Transcripts20
Date range2020-05-05 – 2025-05-07
Calls charted20

Sentiment timeline

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

-11-6+0+6+112020 Q12020 Q42021 Q42022 Q32023 Q22024 Q12024 Q42020 Q1 · Overall: -4.62020 Q2 · Overall: +4.62020 Q3 · Overall: +6.42020 Q4 · Overall: -3.22021 Q2 · Overall: +5.82021 Q3 · Overall: +5.82021 Q4 · Overall: +9.12022 Q1 · Overall: +8.62022 Q2 · Overall: +9.92022 Q3 · Overall: +0.52022 Q4 · Overall: +3.62023 Q1 · Overall: +5.42023 Q2 · Overall: +8.22023 Q3 · Overall: +7.72023 Q4 · Overall: +7.12024 Q1 · Overall: +3.52024 Q2 · Overall: +3.92024 Q3 · Overall: +4.12024 Q4 · Overall: +0.22025 Q1 · Overall: +9.3
Overall

CEO vs CFO

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

-17-8+0+8+172020 Q12020 Q42021 Q42022 Q32023 Q22024 Q12024 Q42020 Q1 · CEO: -5.62020 Q2 · CEO: +5.52020 Q3 · CEO: +6.82020 Q4 · CEO: -2.42021 Q2 · CEO: +5.62021 Q3 · CEO: +5.72021 Q4 · CEO: +9.72022 Q1 · CEO: +11.32022 Q2 · CEO: +14.42022 Q3 · CEO: +3.32022 Q4 · CEO: +7.22023 Q1 · CEO: +9.42023 Q2 · CEO: +9.82023 Q3 · CEO: +8.22023 Q4 · CEO: +9.12024 Q2 · CEO: +5.12024 Q3 · CEO: +4.12024 Q4 · CEO: +1.92025 Q1 · CEO: +14.22020 Q1 · CFO: -2.92020 Q2 · CFO: +8.52020 Q3 · CFO: +10.42020 Q4 · CFO: +2.02021 Q2 · CFO: +14.32021 Q3 · CFO: +12.02021 Q4 · CFO: +12.82022 Q1 · CFO: +10.42022 Q2 · CFO: +8.82022 Q3 · CFO: -0.92022 Q4 · CFO: +2.02023 Q1 · CFO: +2.42023 Q2 · CFO: +8.72023 Q3 · CFO: +9.52023 Q4 · CFO: +9.22024 Q2 · CFO: +9.82024 Q3 · CFO: +10.02024 Q4 · CFO: +5.12025 Q1 · CFO: +10.0
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-36-18+0+18+362020 Q12020 Q42021 Q42022 Q32023 Q22024 Q12024 Q42020 Q1 · Prepared remarks: -7.82020 Q2 · Prepared remarks: +3.92020 Q3 · Prepared remarks: +9.32020 Q4 · Prepared remarks: -1.62021 Q2 · Prepared remarks: +6.22021 Q3 · Prepared remarks: +11.62021 Q4 · Prepared remarks: +12.82022 Q1 · Prepared remarks: +13.62022 Q2 · Prepared remarks: +16.62022 Q3 · Prepared remarks: +4.42022 Q4 · Prepared remarks: +13.22023 Q1 · Prepared remarks: +8.42023 Q2 · Prepared remarks: +17.82023 Q3 · Prepared remarks: +8.82023 Q4 · Prepared remarks: +11.02024 Q1 · Prepared remarks: +31.72024 Q2 · Prepared remarks: +11.22024 Q3 · Prepared remarks: +10.52024 Q4 · Prepared remarks: +4.72025 Q1 · Prepared remarks: +19.52020 Q1 · Q&A responses: -1.62020 Q2 · Q&A responses: +8.62020 Q3 · Q&A responses: +3.42020 Q4 · Q&A responses: -2.32021 Q2 · Q&A responses: +6.72021 Q3 · Q&A responses: +4.52021 Q4 · Q&A responses: +8.22022 Q1 · Q&A responses: +8.22022 Q2 · Q&A responses: +7.32022 Q3 · Q&A responses: +0.02022 Q4 · Q&A responses: -0.42023 Q1 · Q&A responses: +4.92023 Q2 · Q&A responses: +6.02023 Q3 · Q&A responses: +8.42023 Q4 · Q&A responses: +7.72024 Q1 · Q&A responses: +4.32024 Q2 · Q&A responses: +1.92024 Q3 · Q&A responses: +1.82024 Q4 · Q&A responses: +0.02025 Q1 · Q&A responses: +8.4
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

$0.07$3.40$6.732020 Q12020 Q42021 Q42022 Q32023 Q22024 Q12024 Q42020 Q1: $2.132020 Q2: $1.982020 Q3: $1.992020 Q4: $1.922021 Q2: $0.532021 Q3: $0.832021 Q4: $1.692022 Q1: $1.852022 Q2: $2.042022 Q3: $2.642022 Q4: $3.022023 Q1: $3.292023 Q2: $2.942023 Q3: $3.642023 Q4: $4.002024 Q1: $4.502024 Q2: $5.542024 Q3: $6.27

Forward P/E

3.6120.2236.842020 Q12020 Q42021 Q42022 Q32023 Q22024 Q12024 Q42020 Q1: 5.902020 Q2: 10.272020 Q3: 9.382020 Q4: 9.422021 Q2: 34.552021 Q3: 22.082021 Q4: 12.252022 Q1: 12.212022 Q2: 11.492022 Q3: 9.602022 Q4: 8.062023 Q1: 7.422023 Q2: 8.442023 Q3: 9.122023 Q4: 9.532024 Q1: 13.602024 Q2: 15.822024 Q3: 14.54

Divergence watch ⚑

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

  • 2020 Q2 tone ↑ +9.1 fwd EPS ↓ -0.16 Tone rose while the forward EPS estimate was cut.
  • 2021 Q2 tone ↑ +9.0 fwd EPS ↓ -1.40 Tone rose while the forward EPS estimate was cut.
  • 2022 Q3 tone ↓ -9.4 fwd EPS ↑ +0.60 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↑ +2.7 fwd EPS ↓ -0.35 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↓ -3.6 fwd EPS ↑ +0.50 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-07+9.3——View →
2024 Q42025-02-27+0.2——View →
2024 Q32024-11-07+4.1$6.2714.5View →
2024 Q22024-08-08+3.9$5.5415.8View →
2024 Q12024-05-08+3.5$4.5013.6View →
2023 Q42024-02-28+7.1$4.009.5View →
2023 Q32023-11-07+7.7$3.649.1View →
2023 Q22023-08-09+8.2$2.948.4View →