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In This List

A Textual Review of the Q4’22 U.S. Earnings Call Season

Blog

Asia-Pacific M&A By the Numbers: Q4 2022

Blog

SP 500 Q4 2022 Sector Earnings Revenue Data

Blog

Valuation and Volatility Factors Were Leading Indicators out of a Bear Market

Blog

Essential IR Insights Newsletter - February 2023

 * 3 Apr, 2023 | 11:30


SENTIMENT REBOUNDS WHILE REGIONAL BANKS TIP THEIR HAND
A TEXTUAL REVIEW OF THE Q4’22 U.S. EARNINGS CALL SEASON

Frank Zhao  
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 * Author Frank Zhao
 * Theme Capital Markets
 * Segment BankingInvestment BankingInvestment Management
 * Tags Equity MarketsNPDRQuantamental Research

Highlights

The overall sentiment rebounded as the breadth of S&P 500 firms citing earnings
growth continued its recovery to recapture its 15-year historical average.

Consumer Staples had the largest year-over-year sentiment improvement as
executives see margin recovery and strong demand for 2023 and beyond.

Executives’ sentiment on recent earnings calls for SVB Financial Group and
Signature Bank were negative prior to their implosion.

Read Report

For the first time, natural language processing algorithms get to tell the
earnings call story. This recurring series reviews an earnings season
exclusively using texts from call transcripts.

The sentiment from S&P 500 firms’ latest earnings calls rebounded for the first
time in 2022. Earnings continued its recovery after hitting a trough two
quarters ago. The headwind surrounding the strong dollar started to recede.
Defensive sectors led the way while the cyclicals continued their struggle. The
recent implosions of SVB Financial Group and Signature Bank have intensified
this divergence. Other regional banks appear susceptible as the sentiment from
their latest calls has turned negative, a rare historical occurrence that
preceded the demise of the two, now FDIC seized, banks.



Source: S&P Global Market Intelligence Quantamental Research. Data as of
February 24, 2023.



Sentiment Rebounded as Earnings Continued to Recover: The overall sentiment
rebounded as the breadth of S&P 500 firms citing earnings growth continued its
recovery to recapture its 15-year historical average (Exhibit A.1).

Consumer Staples & Financials Are ‘A Tale of Two Sectors’: Consumer Staples had
the largest year-over-year sentiment improvement as executives see margin
recovery and strong demand for 2023 and beyond. Financials had the largest
sentiment deterioration from a year ago as loan originations dried up and the
cost of their deposit base exploded (Exhibit 2).

Rare Negative Call Sentiment Before the Bank Implosions: Executives’ sentiment
on recent earnings calls for SVB Financial Group and Signature Bank were
negative prior to their implosion. Other regional banks appear susceptible, as
the sentiment of their latest calls has turned negative, a rare event that has
only occurred in 6% of the calls since Q4’07.



Explore the datasets used to conduct this research



Textual Data Analytics (TDA)
TDA is an off-the-shelf NLP solution that tailors to our Machine Readable
Transcripts and outputs 800+ predictive and descriptive analytics for equity
investing and various data science workflows.

Machine Readable Transcripts
NLP-friendly data from earnings calls, with metadata tagging and investor
relations details. Keep track of company events and analyze data from earnings,
M&A, guidance, and more. Benefit from intraday updates and 11,600+ covered
entities with history dating back to 2004.

 * READ THE FULL REPORT


SENTIMENT REBOUNDS WHILE REGIONAL BANKS TIP THEIR HAND



CLICK HERE
 * READ THE FULL REPORT


MACHINES SIGNAL Q4'22 GUIDANCE NOT FALLING OFF A CLIFF - AN IN-DEPTH TEXTUAL
REVIEW OF Q3-22 EARNING CALL TRANSCRIPT



CLICK HERE
   
   
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 * Author
 * Frank Zhao
 * Theme
 * Capital Markets
 * Segment
 * BankingInvestment BankingInvestment Management
 * Tags
 * Equity MarketsNPDRQuantamental Research
   

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