Anthem, Inc. (ANTM) — Earnings Call X-Ray
Our AI read all 26 of ANTM's earnings calls (2016–2022) and answered the same battery of questions about each one. Every past call is free; the newest quarter unlocks with a free account.
Previous Call Grade
B+
Q4 2021
Calls Analyzed
26
2016–2022
Avg Candor
6.5/9
evasion 3.7/9
Call-by-call analysis
🔒 Q1 2022 earnings call
2022-04-20
NEWEST
Guidance: ■■■■■Demand: ■■■■■■
Margins: ■■■■Backlog: ■■■■
■ analysts, ■■ questionsexpected move ±■■%
Management ■■■■■■ guidance against ■■■■■■■■ demand and ■■■■■■■ margins. The delivery was ■■■■■■■■ and ■■■■ in specifics, with ■■■ questions left hanging.
🔒 The Q1 2022 call grade is ready
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B+
Q4 2021 earnings call
2022-01-26
Management held guidance steady against accelerating demand. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: acceleratingMargins: stablePricing: raisingCapex: increasing 18 analysts · 18 questions
✓ Clean call✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsed
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
NO Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
YES Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
B+
Q3 2021 earnings call
2021-10-20
Management raised guidance against accelerating demand. The delivery was unusually candid, rich in specifics, relaxed under questioning.
Guidance: raisedDemand: acceleratingMargins: stableBacklog: growingPricing: raising 18 analysts · 18 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
B
Q2 2021 earnings call
2021-07-21
Management raised guidance against steady demand and contracting margins. The delivery was unusually candid.
Guidance: raisedDemand: stableMargins: contractingPricing: raisingCapex: increasing 15 analysts · 20 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsed
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
YES Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
B+
Q1 2021 earnings call
2021-04-21
Management raised guidance against steady demand. The delivery was unusually candid, rich in specifics, relaxed under questioning.
Guidance: raisedDemand: stableMargins: stablePricing: stableCapex: increasing 15 analysts · 15 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts✓ Early product, fast growth⚑ Reads rehearsed
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C
Q4 2020 earnings call
2021-01-27
Management lowered guidance against steady demand and contracting margins. The delivery was unusually candid, rich in specifics.
Guidance: loweredDemand: stableMargins: contractingPricing: raising 16 analysts · 21 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts⚑ Reads rehearsedDirection beats results
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C
Q3 2020 earnings call
2020-10-28
Management held guidance steady against mixed demand signals and contracting margins. The delivery was rich in specifics.
Guidance: maintainedDemand: mixedMargins: contractingPricing: stableHeadcount: cuttingCapex: increasing 18 analysts · 25 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubtsDirection beats results
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
C+
Q2 2020 earnings call
2020-07-29
Management held guidance steady against mixed demand signals. The delivery was unusually candid, rich in specifics.
Guidance: maintainedDemand: mixedPricing: stable 20 analysts · 23 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubts✓ Volume step-up ahead
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
NO Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
YES Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
Earlier calls
| Call | Date | Grade | Guidance | Demand | Margins | Candor | Evasion |
|---|
| Q1 2020 |
2020-04-29 |
F |
maintained | mixed | unclear |
6/9 |
5/9 |
| Q4 2019 |
2020-01-29 |
C |
maintained | accelerating | stable |
6/9 |
4/9 |
| Q3 2019 |
2019-10-23 |
B |
raised | accelerating | expanding |
7/9 |
4/9 |
| Q2 2019 |
2019-07-24 |
C+ |
raised | accelerating | contracting |
6/9 |
4/9 |
| Q1 2019 |
2019-04-24 |
C+ |
raised | accelerating | stable |
6/9 |
5/9 |
| Q4 2018 |
2019-01-30 |
C+ |
raised | accelerating | expanding |
6/9 |
4/9 |
| Q3 2018 |
2018-10-31 |
C+ |
raised | accelerating | expanding |
6/9 |
5/9 |
| Q2 2018 |
2018-07-25 |
B+ |
raised | mixed | stable |
7/9 |
3/9 |
| Q1 2018 |
2018-04-25 |
B+ |
raised | mixed | expanding |
7/9 |
2/9 |
| Q4 2017 |
2018-01-31 |
C |
none | stable | stable |
6/9 |
4/9 |
| Q3 2017 |
2017-10-25 |
B |
raised | mixed | contracting |
7/9 |
4/9 |
| Q2 2017 |
2017-07-26 |
D |
raised | stable | contracting |
6/9 |
4/9 |
| Q1 2017 |
2017-04-26 |
D |
raised | stable | contracting |
5/9 |
6/9 |
| Q4 2016 |
2017-02-01 |
B+ |
raised | stable | mixed |
7/9 |
3/9 |
| Q3 2016 |
2016-11-02 |
D |
maintained | mixed | contracting |
7/9 |
4/9 |
| Q2 2016 |
2016-07-27 |
F |
maintained | mixed | contracting |
6/9 |
6/9 |
| Q1 2016 |
2016-04-27 |
C |
raised | accelerating | contracting |
6/9 |
5/9 |
| Q4 2015 |
2016-01-27 |
D |
maintained | mixed | stable |
7/9 |
3/9 |
How to read this page
The grade is a transparent composite of call quality — candor, specificity, low evasion, low stress, whether the call resolves more doubts than it creates, and the guidance action — not a buy or sell signal. The expected move is a volatility estimate from the one signal that survived our out-of-sample tests: how a stock's own reaction and pre-call volatility predict the size (not direction) of its next move. Full detail, including everything that failed: methodology.
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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.