Analyzing Sentiment in Quarterly Earnings Calls Q2 2024

While this quarter’s overall Net Positivity score of 1.24% is slightly lower than last quarter (1.26%), it remains above the trailing one-year average of 1.18%. Seven of the eleven sectors saw a fall in their score from the previous quarter, but there were healthy increases for the resource sectors as Energy and Material companies saw an overall increase in their Net Positivity Score.

Overall, in Q2 2024, the S&P 500 had a Numeric Transparency score of 2.07%, a large drop compared to the previous quarter where the average was 2.64%. The reason for this is that most companies were reporting 2023 full year results in the last quarter and likely provided greater numeric detail. If we compare to the same quarter from 2023, we can see that numeric transparency was only slightly lower than Q2 2023’s value of 2.12%

In Q2 2024, the S&P 500 constituents had a Language Complexity score of 12.32, slightly down from Q1’s score of 12.41, showing the language in this quarter’s earnings call transcripts was slightly less complex which may be considered as more favorable.