Subtext

Walgreens Boots Alliance, Inc. WBA

SectorConsumer Staples
Transcripts76
Date range2006-03-27 – 2025-01-10
Calls charted74

Sentiment timeline

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

-25-12+0+12+252006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22006 Q3 · Overall: +14.62006 Q4 · Overall: +6.32007 Q1 · Overall: +10.12007 Q2 · Overall: +7.52007 Q4 · Overall: +8.12008 Q1 · Overall: +1.02008 Q2 · Overall: +7.72008 Q3 · Overall: +6.92008 Q4 · Overall: +8.72009 Q1 · Overall: +8.72009 Q2 · Overall: +9.82009 Q3 · Overall: +11.02009 Q4 · Overall: +15.72010 Q1 · Overall: +8.62010 Q2 · Overall: +9.82010 Q3 · Overall: +9.82010 Q4 · Overall: +11.62011 Q1 · Overall: +6.12011 Q2 · Overall: +14.12011 Q3 · Overall: +7.02011 Q4 · Overall: +8.92012 Q1 · Overall: +7.72012 Q2 · Overall: +12.62012 Q3 · Overall: +10.02012 Q4 · Overall: +13.82013 Q1 · Overall: +17.52013 Q2 · Overall: +21.52013 Q3 · Overall: +14.82013 Q4 · Overall: +16.02014 Q1 · Overall: +17.12014 Q2 · Overall: +9.92014 Q3 · Overall: +13.22014 Q4 · Overall: +12.22015 Q1 · Overall: +16.22015 Q2 · Overall: +11.12015 Q3 · Overall: +12.12015 Q4 · Overall: +14.32016 Q1 · Overall: +17.12016 Q2 · Overall: +10.12016 Q3 · Overall: +13.22016 Q4 · Overall: +10.42017 Q1 · Overall: +8.22017 Q2 · Overall: +14.52017 Q3 · Overall: +12.02017 Q4 · Overall: +13.42018 Q1 · Overall: +10.72018 Q2 · Overall: +16.02018 Q3 · Overall: +16.32018 Q4 · Overall: +14.92019 Q1 · Overall: +11.02019 Q2 · Overall: +6.32019 Q3 · Overall: +5.22019 Q4 · Overall: +7.02020 Q1 · Overall: +10.82020 Q2 · Overall: +1.62020 Q3 · Overall: -0.32020 Q4 · Overall: +4.02021 Q1 · Overall: +8.72021 Q2 · Overall: +10.12021 Q3 · Overall: +5.82021 Q4 · Overall: +12.72022 Q1 · Overall: +4.92022 Q2 · Overall: +10.72022 Q3 · Overall: +10.92022 Q4 · Overall: +8.22023 Q1 · Overall: +9.12023 Q2 · Overall: +9.62023 Q3 · Overall: +9.12023 Q4 · Overall: +10.72024 Q1 · Overall: +11.62024 Q2 · Overall: +8.52024 Q3 · Overall: +5.12024 Q4 · Overall: +3.12025 Q1 · Overall: +9.5
Overall

CEO vs CFO

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

-48-24+0+24+482006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22008 Q1 · CEO: -1.12008 Q2 · CEO: +4.82008 Q3 · CEO: +7.22008 Q4 · CEO: +16.52009 Q2 · CEO: +14.12009 Q3 · CEO: +20.92009 Q4 · CEO: +22.42010 Q1 · CEO: +14.42010 Q2 · CEO: +19.72010 Q3 · CEO: +17.32010 Q4 · CEO: +17.32011 Q1 · CEO: +8.22011 Q2 · CEO: +22.82011 Q3 · CEO: +13.02011 Q4 · CEO: +19.32012 Q1 · CEO: +8.92012 Q2 · CEO: +22.72012 Q4 · CEO: +20.02013 Q1 · CEO: +26.42013 Q2 · CEO: +29.72013 Q3 · CEO: +25.82013 Q4 · CEO: +28.72014 Q1 · CEO: +24.82014 Q2 · CEO: +14.92014 Q3 · CEO: +16.62014 Q4 · CEO: +19.32015 Q1 · CEO: +30.42015 Q2 · CEO: +17.02015 Q3 · CEO: +17.82016 Q1 · CEO: +18.22016 Q2 · CEO: +15.92016 Q3 · CEO: +19.32016 Q4 · CEO: +17.02017 Q1 · CEO: +12.02017 Q2 · CEO: +16.52017 Q3 · CEO: +13.82017 Q4 · CEO: +20.12018 Q1 · CEO: +15.62018 Q2 · CEO: +16.92018 Q3 · CEO: +16.32018 Q4 · CEO: +27.72019 Q1 · CEO: +19.72019 Q2 · CEO: +5.42019 Q3 · CEO: +13.02019 Q4 · CEO: +7.22020 Q1 · CEO: +20.22020 Q2 · CEO: +6.52020 Q3 · CEO: +6.62020 Q4 · CEO: +12.52021 Q1 · CEO: +18.62021 Q2 · CEO: +28.72021 Q3 · CEO: +8.52022 Q1 · CEO: +9.02022 Q2 · CEO: +17.12022 Q3 · CEO: +15.82022 Q4 · CEO: +15.62023 Q1 · CEO: +21.82023 Q2 · CEO: +19.12023 Q3 · CEO: +11.32023 Q4 · CEO: +13.12024 Q1 · CEO: +16.62024 Q2 · CEO: +14.52024 Q3 · CEO: +10.82024 Q4 · CEO: +7.32025 Q1 · CEO: +13.92008 Q2 · CFO: +8.12008 Q3 · CFO: +42.02008 Q4 · CFO: +9.82009 Q1 · CFO: +5.92009 Q2 · CFO: +3.92009 Q3 · CFO: +7.42009 Q4 · CFO: +19.12010 Q1 · CFO: +8.32010 Q2 · CFO: +1.32010 Q3 · CFO: +10.52010 Q4 · CFO: +11.02011 Q1 · CFO: +6.72011 Q2 · CFO: +10.72011 Q3 · CFO: +9.82011 Q4 · CFO: +6.02012 Q1 · CFO: +10.82012 Q2 · CFO: +10.52012 Q3 · CFO: +14.12012 Q4 · CFO: +15.02013 Q1 · CFO: +15.32013 Q2 · CFO: +25.62013 Q3 · CFO: +15.02013 Q4 · CFO: +21.52014 Q1 · CFO: +18.82014 Q2 · CFO: +7.12014 Q3 · CFO: +15.52014 Q4 · CFO: +7.42015 Q1 · CFO: +17.72015 Q2 · CFO: +1.92015 Q3 · CFO: +12.92016 Q1 · CFO: +16.62016 Q2 · CFO: +8.82016 Q3 · CFO: +13.52016 Q4 · CFO: +8.62017 Q1 · CFO: +8.22017 Q2 · CFO: +11.22017 Q3 · CFO: +13.92017 Q4 · CFO: +16.12018 Q1 · CFO: +9.12018 Q2 · CFO: +18.32018 Q3 · CFO: +15.62018 Q4 · CFO: +10.12019 Q1 · CFO: +5.62019 Q2 · CFO: -0.22019 Q3 · CFO: -0.62019 Q4 · CFO: -0.22020 Q1 · CFO: +2.32020 Q2 · CFO: +0.72020 Q3 · CFO: -5.92020 Q4 · CFO: +2.52021 Q1 · CFO: +11.02021 Q2 · CFO: +9.22021 Q3 · CFO: +7.72021 Q4 · CFO: +11.82022 Q1 · CFO: +2.72022 Q2 · CFO: +9.12022 Q3 · CFO: +10.62022 Q4 · CFO: +7.02023 Q1 · CFO: +6.92023 Q2 · CFO: +10.02023 Q3 · CFO: +3.62023 Q4 · CFO: +4.12024 Q1 · CFO: +1.92024 Q2 · CFO: +8.32024 Q3 · CFO: +2.12024 Q4 · CFO: +0.02025 Q1 · CFO: +8.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-37-18+0+18+372006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22006 Q3 · Prepared remarks: +14.62006 Q4 · Prepared remarks: +6.32007 Q1 · Prepared remarks: +10.12007 Q2 · Prepared remarks: +7.52007 Q4 · Prepared remarks: +8.12008 Q1 · Prepared remarks: +8.22008 Q2 · Prepared remarks: +17.42008 Q3 · Prepared remarks: +16.22008 Q4 · Prepared remarks: +6.52009 Q1 · Prepared remarks: +17.02009 Q2 · Prepared remarks: +9.62009 Q3 · Prepared remarks: +10.82009 Q4 · Prepared remarks: +15.02010 Q1 · Prepared remarks: +12.42010 Q2 · Prepared remarks: +11.72010 Q3 · Prepared remarks: +9.52010 Q4 · Prepared remarks: +10.92011 Q1 · Prepared remarks: +6.92011 Q2 · Prepared remarks: +10.52011 Q3 · Prepared remarks: +10.12011 Q4 · Prepared remarks: +14.32012 Q1 · Prepared remarks: +7.82012 Q2 · Prepared remarks: +12.72012 Q3 · Prepared remarks: +10.52012 Q4 · Prepared remarks: +18.42013 Q1 · Prepared remarks: +17.22013 Q2 · Prepared remarks: +28.22013 Q3 · Prepared remarks: +23.22013 Q4 · Prepared remarks: +18.62014 Q1 · Prepared remarks: +19.12014 Q2 · Prepared remarks: +10.12014 Q3 · Prepared remarks: +14.42014 Q4 · Prepared remarks: +15.22015 Q1 · Prepared remarks: +23.42015 Q2 · Prepared remarks: +31.92015 Q3 · Prepared remarks: +14.32015 Q4 · Prepared remarks: +16.12016 Q1 · Prepared remarks: +15.92016 Q2 · Prepared remarks: +13.32016 Q3 · Prepared remarks: +16.72016 Q4 · Prepared remarks: +11.52017 Q1 · Prepared remarks: +11.72017 Q2 · Prepared remarks: +14.42017 Q3 · Prepared remarks: +16.72017 Q4 · Prepared remarks: +14.92018 Q1 · Prepared remarks: +11.62018 Q2 · Prepared remarks: +20.62018 Q3 · Prepared remarks: +21.32018 Q4 · Prepared remarks: +18.42019 Q1 · Prepared remarks: +13.52019 Q2 · Prepared remarks: +5.62019 Q3 · Prepared remarks: +3.32019 Q4 · Prepared remarks: +4.32020 Q1 · Prepared remarks: +16.52020 Q2 · Prepared remarks: +2.42020 Q3 · Prepared remarks: -3.52020 Q4 · Prepared remarks: +9.82021 Q1 · Prepared remarks: +10.02021 Q2 · Prepared remarks: +17.42021 Q3 · Prepared remarks: +17.22021 Q4 · Prepared remarks: +12.72022 Q1 · Prepared remarks: +12.52022 Q2 · Prepared remarks: +15.22022 Q3 · Prepared remarks: +13.32022 Q4 · Prepared remarks: +18.52023 Q1 · Prepared remarks: +16.62023 Q2 · Prepared remarks: +16.82023 Q3 · Prepared remarks: +11.22023 Q4 · Prepared remarks: +14.72024 Q1 · Prepared remarks: +14.42024 Q2 · Prepared remarks: +14.52024 Q3 · Prepared remarks: +10.32024 Q4 · Prepared remarks: +7.42025 Q1 · Prepared remarks: +11.62008 Q1 · Q&A responses: -1.22008 Q2 · Q&A responses: +5.92008 Q3 · Q&A responses: +6.82008 Q4 · Q&A responses: +16.72009 Q1 · Q&A responses: +12.92009 Q2 · Q&A responses: +8.02009 Q3 · Q&A responses: +15.42009 Q4 · Q&A responses: +20.72010 Q1 · Q&A responses: +11.72010 Q2 · Q&A responses: +15.02010 Q3 · Q&A responses: +16.02010 Q4 · Q&A responses: +17.12011 Q1 · Q&A responses: +8.72011 Q2 · Q&A responses: +20.22011 Q3 · Q&A responses: +8.62011 Q4 · Q&A responses: +5.32012 Q3 · Q&A responses: +15.62012 Q4 · Q&A responses: +12.82013 Q1 · Q&A responses: +21.32013 Q2 · Q&A responses: +24.72013 Q3 · Q&A responses: +13.02013 Q4 · Q&A responses: +22.42014 Q1 · Q&A responses: +22.52014 Q2 · Q&A responses: +14.92014 Q3 · Q&A responses: +16.62014 Q4 · Q&A responses: +12.52015 Q1 · Q&A responses: +14.92015 Q2 · Q&A responses: +15.32015 Q3 · Q&A responses: +14.32015 Q4 · Q&A responses: +17.92016 Q1 · Q&A responses: +22.12016 Q2 · Q&A responses: +14.82016 Q3 · Q&A responses: +16.42016 Q4 · Q&A responses: +12.52017 Q1 · Q&A responses: +9.82017 Q2 · Q&A responses: +17.82017 Q3 · Q&A responses: +12.72017 Q4 · Q&A responses: +16.52018 Q1 · Q&A responses: +14.92018 Q2 · Q&A responses: +17.12018 Q3 · Q&A responses: +14.62018 Q4 · Q&A responses: +15.62019 Q1 · Q&A responses: +10.62019 Q2 · Q&A responses: +11.22019 Q3 · Q&A responses: +8.22019 Q4 · Q&A responses: +10.22020 Q1 · Q&A responses: +10.52020 Q2 · Q&A responses: +5.72020 Q3 · Q&A responses: +6.02020 Q4 · Q&A responses: +1.52021 Q1 · Q&A responses: +12.72021 Q2 · Q&A responses: +11.32021 Q3 · Q&A responses: +5.02022 Q1 · Q&A responses: +2.02022 Q2 · Q&A responses: +11.12022 Q3 · Q&A responses: +13.42022 Q4 · Q&A responses: +1.72023 Q1 · Q&A responses: +5.02023 Q2 · Q&A responses: +9.02023 Q3 · Q&A responses: +11.12023 Q4 · Q&A responses: +7.22024 Q1 · Q&A responses: +12.62024 Q2 · Q&A responses: +6.52024 Q3 · Q&A responses: +4.12024 Q4 · Q&A responses: +1.42025 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

$1.08$4.13$7.182006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22014 Q1: $3.722014 Q2: $3.852014 Q3: $3.692014 Q4: $3.852015 Q1: $4.102015 Q2: $4.282015 Q3: $4.622015 Q4: $4.622016 Q1: $4.782016 Q2: $5.002016 Q3: $5.062016 Q4: $5.182017 Q1: $5.302017 Q2: $5.392017 Q3: $5.552017 Q4: $5.742018 Q1: $6.152018 Q2: $6.392018 Q3: $6.502018 Q4: $6.712019 Q1: $6.762019 Q2: $6.062019 Q3: $6.032019 Q4: $6.002020 Q1: $5.952020 Q2: $5.832020 Q3: $5.022020 Q4: $4.942021 Q1: $5.082021 Q2: $5.102021 Q3: $5.082021 Q4: $4.992022 Q1: $5.092022 Q2: $4.922022 Q3: $4.702022 Q4: $4.582023 Q1: $4.692023 Q2: $4.702023 Q3: $3.862023 Q4: $3.442024 Q1: $3.422024 Q2: $3.122024 Q3: $1.862024 Q4: $1.50

Forward P/E

3.5413.0622.582006 Q32009 Q22011 Q42014 Q22016 Q42019 Q22021 Q42024 Q22014 Q1: 17.952014 Q2: 19.762014 Q3: 17.262014 Q4: 18.702015 Q1: 21.272015 Q2: 20.002015 Q3: 19.702015 Q4: 18.322016 Q1: 17.182016 Q2: 16.652016 Q3: 15.992016 Q4: 16.552017 Q1: 16.182017 Q2: 15.362017 Q3: 14.912017 Q4: 12.492018 Q1: 11.152018 Q2: 10.002018 Q3: 10.972018 Q4: 10.932019 Q1: 9.152019 Q2: 8.732019 Q3: 9.022019 Q4: 9.542020 Q1: 8.872020 Q2: 7.242020 Q3: 7.222020 Q4: 8.192021 Q1: 10.662021 Q2: 10.452021 Q3: 9.872021 Q4: 9.952022 Q1: 9.312022 Q2: 8.272022 Q3: 7.402022 Q4: 8.882023 Q1: 7.152023 Q2: 6.712023 Q3: 5.672023 Q4: 7.152024 Q1: 6.162024 Q2: 5.172024 Q3: 4.852024 Q4: 6.47

Divergence watch ⚑

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

  • 2014 Q2 tone ↓ -7.2 fwd EPS ↑ +0.13 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q3 tone ↑ +3.3 fwd EPS ↓ -0.16 Tone rose while the forward EPS estimate was cut.
  • 2015 Q2 tone ↓ -5.1 fwd EPS ↑ +0.18 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -7.0 fwd EPS ↑ +0.22 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -2.8 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -2.2 fwd EPS ↑ +0.12 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q3 tone ↓ -2.5 fwd EPS ↑ +0.15 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -2.6 fwd EPS ↑ +0.41 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q4 tone ↑ +4.3 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2021 Q4 tone ↑ +6.9 fwd EPS ↓ -0.09 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -7.8 fwd EPS ↑ +0.10 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↑ +5.8 fwd EPS ↓ -0.17 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-01-10+9.5——View →
2024 Q42024-10-15+3.1$1.506.5View →
2024 Q32024-06-27+5.1$1.864.8View →
2024 Q22024-03-28+8.5$3.125.2View →
2024 Q12024-01-04+11.6$3.426.2View →
2023 Q42023-10-12+10.7$3.447.2View →
2023 Q32023-06-27+9.1$3.865.7View →
2023 Q22023-03-28+9.6$4.706.7View →