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After the books closed

After the books closed: the quarter's biggest news happened too late to be in the numbers

Calls Tested
497
Answered YES
13
Hit Rate
2.6%
rare by design

Avnet, Inc. (AVT) — this company's answers

NO on the Q2 2018 call 2018-01-25 B
The model's full reasoning — Q2 2018 call → NO我们根据提供的财报电话会议记录,判断管理层是否报告了最重要的积极发展发生在报告期结束或之后,以至于结果几乎没有包含这些影响,并且管理层自己指出了这一时间点。 在电话会议中,管理层提到了几个积极发展: - 在1月初,EBV部门在欧洲过渡到新的ERP系统,并报告说在1月的前三周,所有关键交付物都按计划进行。这发生在报告期(12月季度)结束之后。 - 在2月,将在美洲推出增强的数字功能,允许客户在交易网站上购买Premier Farnell和Avnet的库存,从而将SKU数量增加约50%。这也是在报告期之后。 - 在消费电子展(CES)上展示了IoT connect平台,但这是1月的事件。 管理层是否将这些视为“最重要的积极发展”,并且是否表示报告结果几乎没有包含这些影响?管理层在讨论ERP过渡时,说“虽然我们仍处于切换的早期阶段,但我很高兴地报告,在1月的前三周,我们在所有关键交付物上都按计划进行。”这暗示了这是一个重要的里程碑,但并没有明确说报告期结果没有包含其影响。关于数字功能,管理层说“在2月,我们将在美洲上线增强的数字功能”,这发生在报告期之后,但管理层没有明确说报告期结果没有包含其影响。 此外,管理层在讨论美洲地区的改善时,提到“本季度,我很高兴地报告,持续上升的业绩指标趋势对美洲地区的财务表现产生了积极影响。”这似乎表明美洲的改善是在季度内发生的,而不是在季度末。 管理层还提到了成本削减举措,但那是持续的。 关键点:管理层是否明确表示这些事件发生在报告期结束或之后,并且报告结果几乎没有包含它们?在电话会议中,管理层提到ERP过渡是在1月初,即季度结束后,但管理层没有说报告结果没有包含其影响。相反,管理层说“我们仍处于切换的早期阶段”,但并没有说这影响了报告结果。关于数字功能,管理层说“在2月,我们将上线”,但也没有说报告结果没有包含。 此外,管理层在讨论指导时,提到了对第三季度和全年的展望,但并没有特别强调这些后期事件是报告结果缺失的原因。 因此,没有明确的管理层陈述表明最重要的积极发展发生在报告期结束或之后,并且结果几乎没有包含它们。管理层确实提到了这些事件,但并没有将它们与报告结果进行对比,也没有说结果没有包含它们。 所以,答案应为NO。

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Show the exact prompt the model was given
Using ONLY the supplied earnings call transcript and no outside information: On this call, does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented contain little or none of their effect — with management itself marking the timing? Answer YES when management's own words convey, in whatever form fits the business, ONE coherent situation with BOTH halves present: (1) LATE-BREAKING, CONCRETE POSITIVE EVENTS. Management points to specific favorable developments that actually occurred near the end of the reported period or in the weeks since it closed — real events, not hopes or pipeline. The events may take whatever form fits the industry: a contract, order, customer, or program signed or won late in the period or after quarter-end; a facility, location, product, or service that opened, launched, or shipped its first volumes in the final stretch or just afterward; an approval, certification, or qualification obtained late that has already begun converting into business; a large customer that went live, began ordering, or expanded right at the close or since; an acquisition or capability completed at or after period-end that is now operating. What matters is that management itself anchors the timing — saying in substance 'late in the quarter,' 'in the final weeks,' 'at the very end of the period,' 'since quarter-end,' 'subsequent to the close,' 'just after the period ended,' or equivalent — for events that are described as done or now happening, not merely expected. (2) MANAGEMENT TREATS THEM AS THE REAL STORY THE NUMBERS MISSED. Management conveys, directly or plainly in substance, that because of this timing the reported results reflect little or none of these developments — and treats them as consequential to where the company is now heading, for example by discussing how they will contribute in coming periods, how the company is now delivering or ramping them, or by contrasting the period's reported figures with the level of business the company is already doing as it exits. The late events should be presented as meaningful relative to the company's current size — capable of changing its trajectory — rather than as routine items in a long list. Answer NO if the period's positive developments are described as spread across the quarter in the ordinary way, with no emphasis on late or post-period timing. NO if the late-dated items are only letters of intent, negotiations, pipeline, expected signings, or events still contingent on approvals, financing, or decisions not yet made. NO if the late events are routine in scale for this company — the normal cadence of wins or openings it always reports — with no sense that they change its level of business. NO if management mentions timing only as an excuse for weak results without concrete late-arriving positives now in hand. NO if the post-period mention is a boilerplate subsequent-events disclosure that management does not connect to the company's trajectory. NO if the timing framing appears only in an analyst's question or model that management does not itself affirm. Use only the supplied transcript. Answer only YES or NO.

Companies that answered YES

TickerCompanyCallDateCall grade
ASM Avino Silver & Gold Mines Ltd. Q4 2023 2024-03-21 C+
KOPN Kopin Corporation Q4 2023 2024-03-14 C+
SCPH scPharmaceuticals Inc. Q3 2023 2023-11-08 B
NBTX Nanobiotix S.A. Q2 2023 2023-09-27 D
SWBI Smith & Wesson Brands, Inc. Q1 2023 2022-09-08 C+
YMM Full Truck Alliance Co. Ltd. Q2 2022 2022-08-25 C+
VNRX VolitionRx Limited Q1 2022 2022-05-12 F
OPK OPKO Health, Inc. Q1 2022 2022-05-09 D
BFIN BankFinancial Corporation Q1 2022 2022-05-06 A
RNW ReNew Energy Global Plc Q2 2022 2021-11-18 C
BFI BurgerFi International, Inc. Q3 2021 2021-11-12 C
LIND Lindblad Expeditions Holdings, Inc. Q2 2017 2017-08-06 C
PLAB Photronics, Inc. Q2 2017 2017-05-17 C+

How the model reasoned

OPK · Q1 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management treating the ModeX acquisition (announced and closed on the call date, May 9) and the Sema4/GeneDx deal (closed April 29) as major positive developments that occurred after the Q1 period ended. These are framed as key steps toward unlocking value and are highlighted as the "exciting announcement" that changed the call format.
RNW · Q2 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management explicitly marking the timing of key positive developments: 400 MW commissioned "since the end of the quarter" (bringing operating capacity to 7 GW today, with another 400 MW scheduled "over the next couple of weeks"), plus the completed Telangana acquisition adding 260 MW.
ASM · Q4 2023 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...

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Not investment advice. Artul.ai publishes AI-generated earnings-call quality grades and expected-volatility estimates — never buy or sell recommendations. We tested over 1,600 predictive hypotheses against 165,000 transcripts; the honest result, including what failed, is documented in our methodology.