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Geographic or market replication just started working outside the home base

Calls Tested
500
Answered YES
34
Hit Rate
6.8%
rare by design

Primoris Services Corporation (PRIM) — this company's answers

NO on the Q2 2018 call 2018-08-11 C+
The model's full reasoning — Q2 2018 call → NO我们根据提供的财报电话会议记录，判断管理层是否描述了“在原有市场或环境中已被证明的业务，最近在新地区开始产生实际结果，且新地区仍占公司业务的小部分，管理层认为早期结果支持进一步扩张”的模式。 分析： 1. 原有市场或环境中的成熟业务：公司有多个业务部门，如管道、公用事业、电力等，在原有市场（如美国）运营良好。 2. 新地区最近产生实际结果：在电话会议中，管理层提到收购Willbros后，其T&D（输电和配电）业务在6月份产生了收入（6100万美元收入，680万美元毛利，290万美元营业利润），并获得了新合同（如145百万美元的工作）。这些是实际结果，且是最近（6月）的。 3. 新地区仍占小部分：Willbros业务仅一个月，且公司整体收入为6.49亿美元，Willbros贡献6100万美元，占比约9.4%，但管理层表示这是新业务，且计划进一步扩张。管理层提到“我们期待看到这个新T&D业务的伟大成就”，并计划增加设备、培训人员等，表明扩张正在进行。 但注意：Willbros是通过收购获得的，不是公司自身模式的复制。问题中明确说“NO if expansion is chiefly by acquisition just consolidated rather than the company's own model replicating.” 这里Willbros是收购的，但管理层将其视为新业务单元，并计划整合和扩张。然而，收购本身是进入新领域（输电和配电），但这是通过收购实现的，不是公司原有模式在新地区的复制。公司原有业务是管道、公用事业等，而T&D是新的业务线，通过收购进入。因此，这更像是通过收购进入新市场，而不是原有模式在新地区的复制。 另外，管理层提到“我们很高兴地宣布，Primoris Distribution Services（去年收购的佛罗里达公司）取得了很好的第二季度业绩，并达到了盈利目标。”这也是收购的。 因此，模式不符合“公司自身模式复制”的条件，而是通过收购扩张。所以答案应为NO。 但再仔细看：问题问的是“a business already proven in the company's ORIGINAL market, territory, or setting has RECENTLY begun producing REAL RESULTS IN NEW TERRITORY”。这里“original market”可能指公司原有的业务领域，而“new territory”可能指新的地理区域或新的市场。但公司通过收购进入新领域，不是原有业务在新地区的复制。例如，公司原有管道业务，现在通过收购进入电力T&D，这是新业务，不是原有业务在新地区的复制。所以不符合。 因此，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 describe that a business already proven in the company's ORIGINAL market, territory, or setting has RECENTLY begun producing REAL RESULTS IN NEW TERRITORY — additional regions, countries, markets, or settings the company has recently entered — with management presenting the away-from-home results as early evidence that the proven model travels, while the new territories remain a small share of the company today? Answer YES when management's own words convey, in whatever form fits the business, ONE coherent pattern with all three present: (1) A HOME-PROVEN BASE: the company has an established, working business in its original market or setting, treated by management as demonstrated rather than in question; (2) AWAY RESULTS NOW REAL AND RECENT: in the recent period, the new territories or markets are actually transacting — real customers, orders, revenue, openings, volumes, or usage happening there now, described with concrete substance and recency, not merely entered, announced, or staffed; and (3) EARLY AND EXPANDING: management conveys that the new-territory contribution is still a small part of the company, that the early results support pressing further, and that continued expansion is underway or committed — so the reported results reflect mostly the home business while the replication is just beginning to layer on top. The territory may be geographic or a genuinely distinct market or setting; what matters is the same proven offering now demonstrably working in a second place. Answer NO if the away expansion is only planned, announced, or pre-revenue. NO if new territories are already the bulk of the business. NO if the away results are one immaterial anecdote. NO if expansion is chiefly by acquisition just consolidated rather than the company's own model replicating. NO if the home business itself is failing and expansion is escape. NO if the pattern appears only in an analyst's question management does not affirm. Use only the supplied transcript. Answer only YES or NO.

Companies that answered YES

TickerCompanyCallDateCall grade
ASO Academy Sports and Outdoors, Inc. Q1 2024 2024-06-11 C+
LINC Lincoln Educational Services Corporation Q1 2024 2024-05-06 B+
GRBK Green Brick Partners, Inc. Q3 2023 2023-11-01 B
FSBC Five Star Bancorp Q3 2023 2023-10-31 B
TGLS Tecnoglass Inc. Q2 2023 2023-08-08 A
PTLO Portillo's Inc. Q2 2023 2023-08-05 B
PFIE Profire Energy, Inc. Q1 2023 2023-05-13 B
M Macy's, Inc. Q4 2022 2023-03-02 D
ADPT Adaptive Biotechnologies Corporation Q4 2022 2023-02-14 C+
HBB Hamilton Beach Brands Holding Company Q3 2022 2022-11-05 C
SYY Sysco Corporation Q1 2023 2022-11-01 C+
HLNE Hamilton Lane Incorporated Q1 2023 2022-08-02 C+
OGI OrganiGram Holdings Inc. Q3 2022 2022-07-14 B+
SE Sea Limited Q1 2022 2022-05-17 F
ADSE ADS-TEC Energy PLC Q4 2021 2022-04-28 D
SOPH SOPHiA GENETICS SA Q4 2021 2022-03-15 C
RELY Remitly Global, Inc. Q4 2021 2022-03-02 B
VNDA Vanda Pharmaceuticals Inc. Q4 2021 2022-02-23 F
GTES Gates Industrial Corporation plc Q4 2021 2022-02-07 C+
MOMO Hello Group Inc. Q3 2021 2021-11-30 D
SXC SunCoke Energy, Inc. Q3 2021 2021-11-01 A
LOPE Grand Canyon Education, Inc. Q2 2021 2021-08-08 C
UFI Unifi, Inc. Q4 2021 2021-08-07 B
TENB Tenable Holdings, Inc. Q2 2021 2021-07-27 A
SATS EchoStar Corporation Q1 2018 2018-05-10 C+
INST Instructure's Q4 2017 2018-02-12 B+
HOLX Hologic, Inc. Q4 2017 2017-11-08 D
IR Ingersoll-Rand Plc Q3 2017 2017-10-25 B
BIIB Biogen Inc. Q2 2017 2017-07-25 B
CNS Cohen & Steers, Inc. Q2 2017 2017-07-20 B
KHC The Kraft Heinz Company Q1 2017 2017-05-03 F
SHOO Steven Madden, Ltd. Q1 2017 2017-04-21 C
MDLZ Mondelez International, Inc. Q4 2016 2017-02-07 C
GOGO Gogo Inc. Q1 2016 2016-05-06 C+

How the model reasoned

RELY · Q4 2021 → YESThe question is about whether management describes a business proven in the original market that has recently begun producing real results in new territories, with those new territories still a small ...YES The transcript shows management describing a home-proven base in the US (original market), with away-from-home results in new territories (outside the US) now real and recent—$120 million revenue in 2021, up from $58 million in 2020, across expanded corridors (over 2, 100 total, with 700+ new last year). These new territories remain a minority share at 26% of total revenue, described as early-stage investments supporting long-term growth via localization in unlaunched geographies, with the model replicating through the same playbook.
LOPE · Q2 2021 → YESThe question is about whether management describes a business proven in the original market that has recently begun producing real results in new territory, with all three elements: home-proven base, ...NO The transcript shows Orbis as an acquired business (29 months ago) that management is now expanding through new partnerships and sites in additional territories. This does not meet the criteria because the expansion is chiefly by acquisition and consolidation rather than the company's own model replicating independently in new territories. The away results are real and recent 4,210 enrollments up 13.2%, but the pattern does not fully align with the required home-proven base and early expanding replication of the original model.
TENB · Q2 2021 → YESThe question is about whether management describes a business proven in the original market that has recently begun producing real results in new territories, with those new territories still a small ...YES Management describes a home-proven base in traditional IT/VM, with recent real results in OT (six-figure cross-sell win at a large public utility, early deployments successful) and AD (early stages with successful traction), plus EMEA outperformance. These new settings remain small contributions today, with management framing 2024 investments as support for continued expansion of the proven model.

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