The user wants me to evaluate the earnings call transcript against two gates and return only YES or NO. Let me analyze Gate 1 first: Is there a positive, current development where the Q&A produces more concrete operating detail than the prepared remarks? The main positive developments in the call: 1. Strong consumption trends (weather-driven) 2. Customer growth (36,000 net new customers) 3. Pipeline/storage segment benefiting from wider spreads between Katy and Waha hubs 4. Capital spending on infrastructure replacement The Q&A section is quite short. Let me look at the questions: - Chris Turnure asks about NTSB investigation timing and Railroad Commission investigation - Charles Fishman asks about capital spending mix and CapEx trajectory The Q&A does NOT probe any positive development with additional detail. The questions are about: 1. The NTSB investigation (a problem/incident, not a positive development) 2. Capital spending mix (which is a plan, not really a current development being probed) The answers to these questions don't add new concrete operating detail about a positive development. The NTSB discussion is about an incident investigation, not a positive business development. The CapEx discussion is about plans and timing. There's no exchange where analysts probe a positive development and management adds new specifics. The Q&A is very short and doesn't extract additional operating detail about any positive development. So Gate 1 would be NO - the Q&A doesn't produce more concrete operating detail about a positive development than the prepared remarks. Since Gate 1 is NO, the answer is NO.
Atmos Energy Corporation
The call grade, management's tone measured against 177,437 other calls, what changed since the quarter before, and every one of the 500 checks.
This is the current report. Unlock its call read, expected move size, and all 500 answers.
- Is there a questioner from an investment bank other than the first three analysts who ask questions?
- Does the operator use the phrase "next question" at least three times?
- Does the transcript contain the phrase "next question" at least twice?
- Does any analyst mention a specific percentage figure in their question?
30 markers, measured against 177,437 calls
Language counted straight from the transcript, behaviour read by the 500 checks, tone above. The band is the middle half of every call we have graded; a flag means this call sits outside it.
All 500 AI checks
Q2 2026 · 500 checks
Every answer is below. Open any check to see what its YES or NO means.
YES Does an executive answer a question by describing a process rather than an outcome?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Is there a question the executive answers with a question back to the analyst?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone compare the company to an unnamed "competitor" or "peer" rather than naming it?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use "historically" or "traditionally" while defending a current practice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is a departure, transition, or role change mentioned only in passing without a thank-you or tribute?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone reference a private conversation ("as I told...", "as we discussed offline")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the transcript contain the phrase "next question" at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an analyst ask a question spanning more than five sentences?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a question containing multiple sub-questions (three or more)?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO answer a question personally after another executive initially responds?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the phrase "if you look at" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst preface a question by summarizing the company's stated results?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker use the word "obviously" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone say "guidance" in the same sentence as a specific number?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst say "congrats" or "congratulations" to management?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "scale" or "scaling" used as a verb?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst ask a question beginning with a number ("two questions", "three quick ones")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst say "thank you" before asking their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst name two or more executives when asking their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "outperform," "outperformance," or "beat" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "the environment" when describing market conditions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive use the word "momentum" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive begin an answer with "Great question," "Thanks," or "Appreciate"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO use the phrase "adjusted" or "non-GAAP" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any speaker say "thank you" more than three times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker say "with that" as a transition phrase?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "on a comparable basis" or "adjusted for"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any speaker say "moving to" or "turning to" when changing topics?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any speaker say "over to you" or "I'll turn it over"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker say "operator" aloud during the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone repeat the same stock phrase three or more times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does anyone use the phrase "as you know" to introduce a claim?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker apologize without attaching a fix to the apology?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the call end without any closing statement from the CEO?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Is there a request to move the call along or to the last question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive answer a question with another question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does an executive mention the weather?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone describe a negotiation currently in progress?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive describe a competitor with anything resembling respect?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator announce more than ten questioners in the Q&A?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the phrase "kind of" at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any question include the word "color"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO deliver the opening remarks rather than the CFO or IR head?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "if I may" or "if you don't mind"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive's first sentence include the word "revenue"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an analyst use the word "clarification" or "clarify" in a question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any question contain the phrase "color on" or "some color"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator use the phrase "our final question" before closing?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "let me" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "aggressive" or "aggressively" appear at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst ask a question referencing "the puts and takes"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "to be clear"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst's question include a compliment followed by "but"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO use the word "sequential" or "sequentially" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "with that" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "for the benefit of" or "just to remind" when restating context?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "early days"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "journey" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the speaker describe a strategy as "disciplined" without describing any trade-off?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there an apology offered to a specific analyst by name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "to be honest" or "frankly"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone promise to "follow up" or "take that offline" and fail to commit to when?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone on the call interrupt a colleague mid-sentence?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does someone use a personal anecdote rather than a metric to justify confidence?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "question" appear in the operator's speech more than three times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "growth" appear at least ten times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone use the phrase "a couple of"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an analyst ask about capital allocation or buybacks?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does management use the word "strong" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive use the phrase "we're seeing" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "opportunity" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "confident" or "confidence" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "record" appear at least twice in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "team" appear at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does management promise to follow up or take a question offline?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "we're excited about" or "we're pleased with"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Do two or more analysts from the same firm ask questions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the phrase "moving forward" or "go forward"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does management mention a specific number of stores, locations, or markets?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the word "folks"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "thank you" more than five times in total?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive use the phrase "we believe"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the operator use the phrase "next question" at least three times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst mention a specific percentage figure in their question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "quarter" appear in at least ten questions or answers during the Q&A?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does at least one analyst ask a question about margins or costs?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO answer the majority of analyst questions personally?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a question phrased as "Can you talk about" or "Can you speak to"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the CFO speak during the Q&A portion at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any question reference a specific quarter (e.g., "fourth quarter") by name?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the operator interrupt the Q&A to announce time is limited or that this will be the last question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a question beginning with "just" (e.g., "just curious")?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst ask about a specific dollar amount or number stated in the prepared remarks?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any question begin with the words "can you" or "could you"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any executive use the phrase "if you look at" during the Q&A?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CFO answer at least one question without the CEO speaking first?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst ask a question containing an explicit comparison to a competitor company?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the phrase "moving on" or "next question" come from the operator?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does an analyst ask about capital allocation (capex, buybacks, M&A, or dividends) in one question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "color" appear (e.g., "add some color") in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "guidance" appear at least five times in the transcript?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any question contain the word "why"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "I think" at least three times within a single answer?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive begin an answer by restating the analyst's name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive's answer exceed 300 words in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO answer the first analyst question personally?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "obviously" appear in the transcript?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the transcript contain the word "margin" more than ten times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive begin an answer with "So" as the first word?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "if I may" or "if I could" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive say "let me" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any question contain the word "specifically"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "momentum" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management mention "margin" or "margins" in prepared remarks?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "definitely" used by any speaker?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "seasonality" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the word "robust" to describe demand, growth, or the pipeline?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the word "leverage" as a verb at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any executive use the word "team" when referring to employees?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any executive say "that said" or "having said that" to introduce a caveat?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst's question include the phrase "going forward"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "great question" at any point?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we remain confident" or "we are confident"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive say "thank you" immediately after finishing an answer?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive cite a specific dollar figure greater than one billion?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst's question contain the word "curious"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst reference a specific prior quarter by name (e.g., "last quarter")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "obviously" two or more times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a follow-up in the same turn after their first answer?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst ask about a specific geographic region or market?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst ask a question that includes the phrase "long term" or "long-term"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "margin" or "margins" appear at least five times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "opportunity" or "opportunities" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive say "we'll come back to that" or defer an answer to a follow-up?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "thank you" three or more times in the Q&A section?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO use the phrase "free cash flow" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive use the word "momentum"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO mention at least one specific customer segment by name (e.g., "enterprise")?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "take your question" or "take the question" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst introduce themselves by name before asking their first question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "including" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management reference "the macro environment" or "macroeconomic" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive reference "our team" or "the team" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator announce more than one analyst from the same firm?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any prepared remark mention "headwinds" or "tailwinds"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "with that, I'll turn it over"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO use the phrase "capital allocation"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive decline to answer, citing that something will come later or is not disclosed?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an analyst ask a two-part question containing the word "but"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone ask a follow-up question in the same turn after their first question is answered?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does anyone answer "yes" or "no" as the first word of a response?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "thank you" at least ten times in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive use the phrase "if you look at" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst begin their question with "Hi" or "Hello" as a greeting?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we are excited about" without naming a number?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst reference a peer company's results or valuation?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the phrase "just to clarify" or "just to be clear"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "headwind" or "headwinds"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the word "tailwind" or "tailwinds"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the word "momentum"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "investments" appear in the context of margins or costs?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone mention "FX" or "foreign exchange"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "efficiency" or "productivity" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst thank the executives or congratulate them before asking a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "great question" or "thanks for the question"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "as we said last quarter" or reference a prior call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "going forward" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "levers" when discussing actions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management thank analysts by name at any point after a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we'll take that offline" or offer to follow up after the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "committed" regarding a target?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CEO's prepared remarks mention "macro" or "macroeconomic"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "the vast majority"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "temporary" or "transitory" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is an analyst's question answered with "great question" or similar?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is there a questioner from an investment bank other than the first three analysts who ask questions?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst ask a question that includes a reference to a specific dollar figure?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "thank you" at least ten times across the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "thank you for taking my question" or "thanks for taking my question" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst's first sentence contain a compliment or thanks before asking their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CFO present in both the prepared remarks and the Q&A portion of the call?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO personally deliver the closing remarks of the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO's prepared remarks contain the word "team" at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker use the phrase "moving on" or "with that" to transition between topics?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "in terms of" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO First-person singular ("I believe," "I think") used more by the CFO than the CEO.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES A single question receives answers from two different executives.
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES A hedge word ("maybe," "sort of") appears inside a direct quantitative claim.
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any speaker use the word "obviously"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "guidance" appear in both prepared remarks and the Q&A section?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any executive defer a question to another executive by name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Someone uses the word "honestly," "frankly," or "to be clear."
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the word "ecosystem" or "platform" without a number attached?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the transcript contain the word "certainly" three or more times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone begin an answer by restating or paraphrasing the analyst's name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst reference a competitor by name during their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does a speaker say "let me" at least twice in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO The transcript contains an apology unrelated to financial results.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO The word "challenge" is spoken more often than "opportunity."
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "seasonality" or "seasonal" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES The phrase "as you know" appears at least twice.
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker use the word "challenge" or "challenges" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone mention "weather" as a factor affecting results?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an executive say "thank you" to the analyst before answering a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "great question" or similar praise of a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO The final question is answered noticeably shorter than the opening ones.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone say "we remain" followed by a verb (e.g., "we remain committed")?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an executive cite a conversation with a customer that has no verifiable specificity (unnamed, undated, unquantified)?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the transcript contain a sentence that begins with "What I would say is"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any question mention a specific percentage or dollar figure?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO personally answer more questions than any other executive?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator say "our final question" or similar?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "opportunity" or "opportunities" appear at least five times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "clearly" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "leverage" appear as a verb at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst's first name get used by an executive when thanking them?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator announce more than five questioners?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Are there more than ten analyst questions in total?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator use the phrase "our next question comes from" more than three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Are the CEO's prepared remarks longer than the CFO's, judged by speaker turns on the transcript page?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management say "we are not going to comment on" or equivalent refusal language?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Executive corrects an analyst's premise.
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the CFO's prepared section exceed the CEO's in number of paragraphs?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO personally answer more than half of the analyst questions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst mention the word "margin" in their first question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Executive uses the word "excited" more than twice.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a multi-part question containing three or more distinct questions?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "guidance" appear at least three times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst ask a two-part question signaled by "and also" or "and secondly"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst begin with a compliment, such as "great quarter" or "congrats"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "we said" when recalling prior statements?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst begin their turn with "thanks" or "thank you"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "headwind" or "tailwind" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "synergies" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst address a question to two or more executives by name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "capital" appear at least five times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any executive say "we feel" rather than "we believe" or "we think"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "capital" appear in at least three different speakers' turns?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an executive use the phrase "over time" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive say "as I mentioned" or "as we said" at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO open the call before any analyst questions by mentioning the macro environment?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we are pleased" or "we're excited"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the word "leverage" (financial or metaphorical)?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst thank management before asking their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "automation" or "productivity" used at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "uncertainty" or "uncertainties" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "year over year" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "leverage" or "leveraging" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Currency headwinds mentioned unprompted.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the phrase "a number of" used at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "best-in-class" or "industry-leading"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "momentum" appear at least twice in prepared remarks?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the phrase "on a constant currency basis" or similar currency adjustment used?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst's question include the phrase "just to clarify"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "the team" appear at least twice in management remarks?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "so clearly" or "quite frankly"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the phrase "we believe" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Speaker says "we don't guide" on anything.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO use the word "quarter" at least ten times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "thank you" more than five times in total?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "macro" or "macroeconomic" appear at least twice in the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the transcript contain the word "typically" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive state they will "come back to" a question or follow up later?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management thank analysts for their questions at any point during Q&A?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Speaker admits being surprised by anything.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any speaker use the phrase "going forward"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does management use the phrase "going forward" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "stability" or "stable" when describing demand?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Word "normal" used about demand.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "stay tuned" or "more to come"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management describe a cost program, restructuring, or efficiency initiative by a proper name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CFO's prepared section mention interest expense by name or figure?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "volatility" appear?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Executive mentions a hobby or personal anecdote.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "pipeline" appear without a dollar figure attached?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "the macro" or "macro environment" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "our team" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "great question" or "good question" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "we remain" followed by an adjective?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management thank analysts by name when responding?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "flexibility" or "flexible" used at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone say "takeaway," "take out," or "take rate"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Analyst compliments the team before asking a question.
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use "we're" where "we are" could substitute, more than twenty times overall?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst reference the CEO or CFO by first name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "obviously" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the word "pipeline" at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does anyone say "moving on" or "let me turn it over" during prepared remarks?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does an analyst ask a question starting with "just"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "headwind" or "headwinds" more than once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst use the phrase "to clarify"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive use the phrase "year over year" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive cite a conversation with a customer, partner, or employee as evidence?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any question go to a named executive other than the CEO or CFO?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive say "to be clear" or "let me be clear"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone mention a competitor by name without being prompted?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is there a question that management declines to answer directly, citing timing or disclosure constraints?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any question explicitly reference the company's prior guidance or outlook?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any speaker say "next question" or does the operator use the word "final" before the last question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "invest" or "investment" appear at least five times in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CFO handle a strategic question instead of a financial one?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst flatter management within their first sentence of speaking?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst ask two questions when told to ask only one?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone use the phrase "underlying" to modify a business metric?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "excited" or "pleased" at least twice in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "guidance" appear in the prepared remarks (not just Q&A)?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Is the word "margin" used with a number attached (e.g., "400 basis points")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the transcript contain the word "record" preceding a noun (e.g., "record margin")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive answer a question by citing a competitor's actions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "macro" or "macroeconomic" appear in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "challenges" appear more than once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CEO begin an answer with "look" or "listen"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "inflation" appear anywhere in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there a pause or silence acknowledged on the call ("I think we lost you")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive name a specific competitor during the call?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "challenges" appear at least three times in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we don't break that out" in response to a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone describe a metric as "noisy" or "lumpy"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive mention a specific number of percentage points when discussing market share?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does a speaker correct a figure they themselves just stated?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CEO refer to a competitor by name rather than "competition" or "peers"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CEO mention their own tenure or years of experience unprompted?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the phrase "the team" when taking ownership would be natural?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does anyone blame weather, holidays, or calendar quirks unprompted?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone cite a personal anecdote involving a customer conversation?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the phrase "a little bit"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Is the CFO the speaker for at least one analyst question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "guidance" appear in the transcript?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "we're excited" or "we are excited"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "dividend" appear?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Is the word "invest" or "investment" used more than twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "invest" or "investment" appear at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone cite a percentage of revenue from a specific segment?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "challenge" or "challenging" appear at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone describe cutting discretionary spending like travel or hiring?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the phrase "year over year" appear?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "liquidity" appear at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the transcript mention refinancing, maturity dates, or debt coming due?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone mention selling assets, real estate, or equipment to raise cash?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone reference "the macro" or "macro environment"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is the word "capacity" mentioned?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone use the phrase "our customers" rather than naming a customer?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the transcript include a question about interest expense or debt service?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "working capital" appear in a context other than a seasonality excuse?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management thank analysts at any point?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone reference borrowing from a bank or drawing on a credit facility?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "cost" appear in the first ten sentences of prepared remarks?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an executive say "we remain confident" or similar?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone mention covenants, amendments to loan documents, or lender conversations?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "with that" or "that said" to pivot?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive open their first answer by thanking the analyst?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst's question include the word "capex" or "cash flow"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "headline" or "headwinds" appear at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "core" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst's turn contain the word "congratulations"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst ask a question containing "how" and also "why"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any executive say "as we mentioned" or "as I mentioned" at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Are there more than eight analyst questioners?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst's question include a percentage figure?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst's question contain the word "guidance"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the CFO's prepared remarks exceed 1,000 words?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "if you look at"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO personally answer the first question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any speaker use the phrase "tailwind" or "tailwinds"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the phrase "balance sheet" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CEO make closing remarks after the Q&A ends?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "structurally" or "secular"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator say "our next question" two or more times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the final questioner get an explicit closing acknowledgment from the operator ("last question" or similar)?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the phrase "business as usual" or "as expected" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst preface a question with "quick" or "quickly"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive state a specific numeric percentage when answering a question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "in terms of" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there a question that clearly annoyed the executive, visible in the reply's abruptness?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "guidance" appear in the Q&A section?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "strong" appear more than five times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "thank you" appear more than ten times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst ask a question containing the word "margin"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does management use the word "guidance" at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the phrase "thank you" appear at least ten times anywhere in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an executive begin an answer by restating the analyst's name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask about capital allocation or share repurchases?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "challenge" or "challenging" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "opportunity" or "opportunities" appear more than three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is there a villain—market conditions, regulation, currency—that behaves consistently across the call?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "challenging" appear?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the word "certainly" appear at least once in management's answers?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst ask a personal, warm, or congratulatory question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the phrase "capital" appear at least five times?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an analyst ask a question the prepared remarks already answered?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "quarter" appear at least twenty times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any single analyst ask more than two questions during the whole call?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the phrase "on a year-over-year basis" or "year over year" appear at least twice?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Is the word "headwinds" or "tailwinds" used?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "margin" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is the word "confidence" or "confident" spoken by any executive?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone use the phrase "call it" or "let's call it" before an estimate?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the phrase "going forward" appear?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "coming back" or "circling back" to take a follow-up?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "inflation" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive say "we believe" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does management use the phrase "going forward"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone use the word "robust"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the phrase "if you will" or "so to speak"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any speaker say "appreciate" at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does anyone use the phrase "at the end of the day"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone tell a self-contained anecdote with a beginning, middle, and end?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive use the phrase "our team"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the transcript contain a silence, pause, or "we'll come back to that" that never resolves?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone describe a customer, employee, or competitor as a named character with a motive?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive say "we're pleased" or "I'm pleased"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there a moment of modesty—someone crediting luck or timing?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone use the phrase "on a year-over-year basis"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Is the word "excited" or "exciting" used by management at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "just" five or more times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any question begin with "Can you" or "Could you"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "quick" or "quickly" appear in three or more analyst questions?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an analyst ask for guidance on a metric management did not offer unprompted?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Is there a question about capital allocation (buybacks, M&A, debt, or dividends)?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any analyst use the word "clarify" or "clarification"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "obviously" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does management refer to a prior call or prior quarter's commentary when answering?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone use the word "actually" at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any executive begin an answer with "Look," or "So,"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "challenging" or "challenges" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the operator run out of queued questions and close early?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst apologize or preface with "sorry" before asking?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "excited" used by the CEO more than the word "confident"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the phrase "the right" before a noun ("the right team," "the right decisions")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "guidance" appear more than five times in the transcript?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "tailwind" or "headwind" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any analyst's question begin with a compliment or congratulation?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst apologize before or during their question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Are there more questions about revenue than about costs?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "challenging" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the phrase "on a" four or more times total (e.g., "on a constant currency basis")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive answer begin with "Sure" or "Yes" followed by a comma?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "from a ... perspective" (e.g., "from a margin perspective")?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does an executive say "we're not going to" in response to a question?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does management decline to answer by citing a future event ("we'll address that in..." or "at our upcoming...")?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "quarter" appear at least 20 times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there a mention of "FX," "currency," or "foreign exchange"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any executive say "that's right" or "that's correct" to an analyst?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "leverage" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "leverage" used at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "headwinds" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "great question" or thank the analyst before answering?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does anyone attribute results to "the team" rather than to strategy?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does any speaker say "going forward"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst begin their question with "congratulations"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does an analyst thank management at the end of their turn?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone describe the future with "We believe" more than "We expect"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does a speaker say "normal" or "normalized" about conditions that predate any disruption mentioned?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is the word "momentum" used without a stated metric attached to it?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "macro" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the word "solid" at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is there an analogy to a machine, engine, or flywheel?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is the word "visibility" used at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Is the phrase "base case" or "scenario" used at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "we take that seriously" or "we're very focused on"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is the phrase "to your point" or "as you mentioned" used at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the operator say "thank you" more than three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management mention a specific competitor by name?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management say "the team" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "fundamentally" appear at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "ahead of" precede any mention of guidance or expectations?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does management use the phrase "on a year-over-year basis"?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any single speaker say "right?" as a tag question at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the phrase "on a consistent basis" or "consistently"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does a speaker begin a sentence with "To be honest" or "To be clear"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does management use the phrase "strategic" at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker describe a business unit as "healthy"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the word "fundamentals"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "resilient" or "resilience" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the operator mention a queue or "next question" more than three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst ask a follow-up after their initial answer ("follow-up", "second one", "just one more")?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does any analyst ask a question containing the word "why"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does anyone say "if you look at" before citing a number?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the phrase "last question" or "final question" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "clearly" appear anywhere in the transcript?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CEO speak first among named executives in the Q&A?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "headwind" or "headwinds" appear at least twice?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the CFO mention a specific percentage greater than ten?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
YES Does the phrase "going forward" appear at least once?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "team" appear at least three times?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does the word "confident" appear in any executive's remarks?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an analyst thank management at the start or end of their turn?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the CEO use the word "incredibly" at any point?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any executive use the word "team" to refer to company personnel?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does anyone say "to your point" when answering a question?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive say "with that" to transition between speakers or topics?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does the word "transformation" or "transformational" appear?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker say "moving on" or "next question" themselves?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any speaker use the word "hedging" or say "to hedge"?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Does any analyst identify themselves with a two-part introduction (name and firm)?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does the word "talent" appear at least once?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
YES Is the word "capacity" used more often about factories than about people?
The model found enough evidence in the earnings transcript to mark this exact condition as present.
NO Does an executive confess to having too much of something physical somewhere?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Is a supplier or vendor mentioned by name at any point?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
NO Does any executive blame weather, season, or geography for a shipment or delivery issue?
The model did not find enough evidence in the earnings transcript to confirm this exact condition. NO means “not detected,” not necessarily “disproved.”
Archived AI reasoning
Earlier Artul research experiments on ATO calls. Open a question to read the model's original reasoning.
NO Answers go deeper than the script: questioning keeps surfacing new concrete detail behind a positive development — compa
Original model output from the research archive. It may be verbose or include the model's working notes.
We need to evaluate both gates using only the transcript. Gate 1: Is there a positive, current development that management presents as going well, and does the Q&A produce more concrete operating detail than the prepared remarks? The main positive development is the APT general rate case filing, but that's a regulatory filing, not a current business development. Also, the acquisition of the pipeline is mentioned. But the Q&A about the pipeline acquisition: in prepared remarks, they said they acquired a 140-mile 24-inch pipeline for $85 million to provide additional capacity. In Q&A, Mike Haefner says it's not in the rate case, will be in a GRIP filing in the fourth quarter. Kim adds details about the pipeline's route, interconnects, benefits. That is some additional detail, but is it substantial? It's more about the strategic benefits and regulatory treatment. The Q&A also discusses the APT rate case, but that's a regulatory process, not a current business development. The positive current development could be the customer growth, but that's not probed with new detail. The Q&A about the pipeline acquisition does add some specifics: it runs west to east, north of DFW, will have three additional interconnects, provides access to supply basins. That is concrete. But is it a "current development" that is going well? Yes, the acquisition is done and they are integrating it. However, the Q&A also discusses the rate case, which is a regulatory filing, not a business development. The main positive is the rate outcomes and capital investment. But the question asks: is there a positive, current development for which the Q&A produces more concrete operating detail than the prepared remarks? The pipeline acquisition is one. But does the Q&A add substantial new specifics? Yes, they mention the route, interconnects, and benefits. However, is that "operating detail" about the development? It's more about the asset's characteristics. Also, the Q&A about the APT rate case adds procedural details but not operating substance. The Q&A about the pipeline acquisition is limited to a few exchanges. The rest of the Q&A is about tax, debt, etc. So maybe the pipeline acquisition is the development. But is it "current" and "going well"? Yes, they closed it and are integrating. The Q&A adds specifics about how it will be included in rates, its location, and benefits.
NO Front, middle, and back of the business all improving at once, in management's own present-tense telling
Original model output from the research archive. It may be verbose or include the model's working notes.
我们根据提供的财报电话会议记录来判断。管理层描述的是否是三个区域(前端、中端、后端)同时出现真实、已发生的改善,且主要归因于公司自身而非一次性或外部因素。 前端(新业务到来):管理层提到客户增长,如“net customer growth of about 0.8% or about 24,000 customers”,以及“Distribution transportation revenues rose quarter-over-quarter by about $2 million largely from industrial expansions and increased demand for natural gas”,并举例了通用汽车工厂扩张、肯塔基酿酒厂扩张、UPS和Waste Management的CNG车队等。这些是实际发生的客户增长和需求增加,属于前端。 中端(交付/服务):管理层提到资本支出增加,如“Capital spending increased by $7 million to about $298 million”,以及“78% of our CapEx was associated with safety and reliability”,并提到“we expect to begin earning on over 95% of our capital spending within six months of the test year end”。但这是投资,不是交付。中端应该是实际输出或服务。管理层提到“incremental pipeline maintenance spending”和“accelerate higher testing and other pipeline charity work”,但这是维护,不是业务交付。不过,管理层提到“Distribution transportation revenues rose”和“customer growth”带来的收入增加,这可以视为交付。但更明确的是,管理层提到“we acquired a 140 mile 24-inch pipeline for $85 million to provide additional capacity”,这是资产收购,不是交付。中端可能体现在“we continue to focus on safety and consistent reliability in infrastructure programs”和“we expect to begin earning on over 95% of our capital spending”,但这是预期。实际上,管理层没有明确描述交付量或服务量增加,而是更多强调投资和监管进展。但客户增长和运输收入增加可以视为中端(服务交付)的体现,因为运输收入增加意味着实际输送了更多天然气。 后端(留存/承诺):管理层提到“rate outcomes have provided annual operating increases of about $20 million”和“we've begun our sixth consecutive year of executing our strategy”,以及“we remain on track to achieve our capital budgeted target”。但后端应该是客户留存、续约、合同等。管理层提到“we expect to make between 12 to 15 more filings this fiscal year”,这是监管申请,不是客户承诺。但管理层提到“we've begun our sixth consecutive year of executing our strategy”和“our commitment to provide an increase to earnings per share of 6% to 8% annually”,这是公司承诺,不是客户留存。实际上,管理层没有明确描述客户续约或合同扩展。但“customer growth”和“transportation revenues”可能隐含客户留存,但更偏向新业务。 综合来看,管理层描述了客户增长(前端)、运输收入增加(可能中端)、以及监管进展和资本投资(但这不是后端)。后端没有明确提及客户留存或合同承诺。管理层提到“we acquired a pipeline”和“we have transportation contracts that we acquired with the pipeline”,这可能是后端,但那是收购带来的,不是现有客户留存。 因此,三个区域中,前端明确(客户增长),中端可能(运输收入增加),后端不明确。管理层没有描述客户续约或合同扩展。所以可能只有两个区域。 但注意,管理层提到“we expect to begin earning on over 95% of our capital spending within six months of the test year end”,这是预期,不是已发生。所以中端可能只是投资,不是交付。 更仔细看,管理层提到“Distribution transportation revenues rose quarter-over-quarter by about $2 million largely from industrial expansions and increased demand for natural g
NO Proven engine, fuel already in the tank: a working growth driver plus already-held means to multiply it
Original model output from the research archive. It may be verbose or include the model's working notes.
We need to determine if management describes both (1) a proven, already-producing growth engine that is still small relative to its room, and (2) the means to multiply it are already in the company's hands, as one connected present-tense story about the same part of the business. Let's analyze the transcript. The call is about Atmos Energy, a natural gas utility. They discuss their strategy of investing in regulated assets, rate cases, etc. They mention various growth drivers: customer growth, industrial expansions, CNG facilities, etc. But we need to find a specific driver that is already producing and has room to grow, and that the company already has the means to scale it. One candidate: The acquisition of a 140-mile pipeline for $85 million to serve North Texas market. They say it provides additional capacity, access to supply basins. They mention it's immediately accretive given transportation contracts acquired. They plan to integrate it. But is this a "growth engine" that is already producing and still small? It's a new acquisition, not yet fully integrated. They say it will be included in a GRIP filing later. It's not described as having captured only a small part of its opportunity; it's a new asset. Also, the scaling means are the acquisition itself, but it's not described as a small part of a larger opportunity. Another candidate: The APT pipeline rate case, but that's a regulatory filing, not a growth engine. Another: The distribution business adding customers, but that's mature. Another: The CNG facilities in Kansas City, but that's just a couple of facilities. Another: The industrial expansions in Tennessee, Kentucky, etc. But those are just examples. The question asks for a "proven, already-producing growth engine that is still small relative to its room." Management must convey that the driver has captured only a small part of what it can reach. For example, they might say "we have only penetrated X% of the market" or "we are early in the rollout." I don't see such language. They talk about their capital investment program, but that's not a specific growth engine. They mention "we've begun our sixth consecutive year of executing our strategy to grow by investing in our regulated assets." That's a strategy, not a specific engine. They also mention "we're now the largest pure play natural gas only distributor" but that's not a growth engine.
NO Skeptical premise dismantled with receipts: the call's central doubt is answered by named, checkable current facts
Original model output from the research archive. It may be verbose or include the model's working notes.
We need to determine if there is a specific doubt about the company that is live in the conversation, and whether management answers it with named, checkable facts from the recent period that run against it. The doubt must be company-specific, not generic macro. The rebuttal must be concrete operating facts, not just reassurance or projections. Looking at the transcript: The analysts ask about various things. There is a question about the APT rate case, about tax reform, about the pipeline acquisition, about the sharing mechanism, etc. But is there a specific doubt that is live? The analysts seem to be probing about the rate case outcome, about the impact of tax reform, about the pipeline's regulatory treatment. However, management's answers are mostly about process, expectations, and confidence. They don't seem to be rebutting a specific doubt with concrete facts that have already occurred. For example, when asked about the rate case, management says they are prepared, no surprises, but they don't cite specific facts that counter a doubt. When asked about tax reform, they say it's uncertain, they are managing, but no concrete facts. The only concrete facts mentioned are the acquisition of the pipeline, the sale of the marketing business, and the rate increases. But are these rebutting a specific doubt? The doubt might be about the ability to achieve rate relief, but management cites that they have already achieved $20 million in rate increases this quarter. That is a fact. But is there a specific doubt that analysts are pressing? The analysts ask about the rate case, but they don't express a doubt that it will fail; they ask about process. The doubt about tax reform is generic macro, not company-specific. The doubt about the pipeline acquisition is about when it will be in rates, but management explains the process. The question asks: "Is there ONE IDENTIFIABLE DOUBT ABOUT THIS COMPANY THAT IS LIVE IN THE CONVERSATION — evident because analysts press it, or because management itself names it as what skeptics or the market believe — AND does management answer that specific doubt NOT with reassurance, plans, or argument, but with NAMED, CHECKABLE FACTS FROM THE RECENT PERIOD that run directly against it?" Looking for a doubt that is live. The analysts seem to be asking about the APT rate case, but they are not expressing doubt; they are asking for details.
NO Second proving already underway: the company is deliberately running its own playbook a second time, and the repeat is v
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer only YES or NO. Need analyze transcript. Need determine if management describes repeating on purpose something already succeeded at once, with new instance showing signs working. Need identify specific phenomenon. Transcript: Atmos Energy, utility. They have rate cases, GRIP filings, infrastructure investments. They mention "we've begun our sixth consecutive year of executing our strategy to grow by investing in our regulated assets." That is continuing strategy, not necessarily repeating a specific proven first time? They have rate filings annually. They mention "rate outcomes have provided annual operating increases" and "we expect to make between 12 to 15 more filings this fiscal year" etc. Is that a repetition of a proven process? They have done rate cases before, and are doing more. But is management presenting a newly demonstrated repeatability? They say "we've begun our sixth consecutive year of executing our strategy" - that's ongoing, not a new instance of something proven. They also mention "we are now able to have a singular focus" etc. Need look for specific "repeating something already succeeded at once" like building a pipeline? They acquired a pipeline for $85 million to provide capacity. Is that a repeat? They mention "we have expanded in the past" in response to question about West Texas capacity. But that's not a current repetition with early signs. Maybe the APT general rate case? They filed a rate case, but that's not a repeat of a proven first time? They have done rate cases before, but it's routine regulatory process. Management doesn't frame as "we did this before and it worked, now doing again and already showing results." They do say "we've begun our sixth consecutive year of executing our strategy" - that's a repetition of annual strategy, but not a discrete new instance with early results. Question asks: "On this call, does management describe that the company is CURRENTLY REPEATING, ON PURPOSE, SOMETHING IT HAS ALREADY SUCCEEDED AT ONCE — that is, management conveys that a specific thing the company has already proven it can do ... is now being done AGAIN in a new instance, and that this second-or-later instance is already showing real signs of working?" Need answer YES only if all three elements. Let's examine. Management talks about "rate filings" as primary driver. They have made many rate filings over years.
NO Questions aim low, answers land high: the dialogue keeps correcting expectations upward with facts already in hand
Original model output from the research archive. It may be verbose or include the model's working notes.
We need to determine if there is a recurring mismatch in level between questioners' assumptions and management's reported reality, with the mismatch running upward (analysts more cautious, management correcting with concrete already-happening facts). Let's analyze the Q&A exchanges: 1. Chris Turner (JPMorgan): asks about short-term debt, hedging, refinancing. Management answers with specifics about debt balances, hedges, plans. Not really a mismatch in level; it's a factual question. 2. Chris Turner: asks about sharing mechanism on pipeline, whether there is a sharing mechanism for overearning. Management explains the mechanism, says they haven't come close to exceeding. This is more of a clarification, not a cautious premise. 3. Mark Levin: asks about low end/high end of guidance, what would take to either end. Management says everything is performing as expected, confident. Not a mismatch; just a question about range. 4. Mark Levin: asks about political/tax changes impact. Management says they are studying, but not in position to predict. Not a mismatch. 5. Mark Levin: asks about Texas pipeline case, any scenario that would have adverse impact on long-term guidance. Management says they are positioned well, no surprises, they've been preparing for years. This is a cautious question (worst-case scenario) but management answers with confidence and concrete preparation. However, is this a recurring pattern? Let's see. 6. Brian Russo: asks about APT rate case process, settlement discussions. Management explains process. Not a mismatch. 7. Spencer Joyce: asks about recently acquired pipeline, how long until wrapped into rates. Management says it will be in GRIP filing in fourth quarter, immediate benefits. This is a question about timing, not necessarily cautious. 8. Spencer Joyce: asks about cash inflow from AEM sale, working capital. Management gives details. Not a mismatch. 9. Charles Fishman: asks about tax changes, says since debt at OpCo level, should be neutral. Management agrees. Then asks about payout ratio, if tax changes make dividends more attractive, would board consider increasing payout. Management says they have room, but currently reinvesting. This is a question about potential future action, not a mismatch. 10. Ted Durbin: asks about ROE in pipeline case, comparing to authorized. Management explains rationale. Then asks about equity layer.
NO Cornered by one hard problem: management describes the company organized around solving a specific difficulty most other
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES or NO. Need analyze transcript. Need determine if management describes company as organized around solving one particularly difficult problem that others in market have not solved, routinely fail at, or avoid altogether — and convey currently succeeding at that hard thing in real live operations. We need use only transcript. Need answer YES or NO. Let's parse. Atmos Energy is natural gas utility, pure play regulated utility. They discuss strategy: investing in regulated assets, rate cases, infrastructure safety. Is there a "hard problem" at center? Maybe "becoming safest natural gas utility" and regulatory mechanisms. But is that a difficult problem others haven't solved? They mention "we're now the largest pure play natural gas only distributor traded on NYSE" and "fully regulated utility" singular focus. They emphasize rate outcomes, infrastructure investments, relationships with regulators. They have GRIP statute in Texas, annual rate mechanisms. They are executing strategy sixth year. But does management describe a hard problem that others fail at? Not really. They talk about their business model, regulatory framework, rate relief. They don't identify a specific difficulty that others cannot solve. They mention "no surprises" in filing, "not our first rodeo", "we've been preparing for three years." But that's not a hard problem at center. They mention "we want to be the safest natural gas utility" but not as a hard problem others fail at. They mention "we are in as good a position as we can" etc. Question asks: "Using ONLY supplied earnings call transcript and no outside information: On this call, does management describe the company as being organized around SOLVING ONE PARTICULARLY DIFFICULT PROBLEM THAT OTHERS IN ITS MARKET HAVE NOT SOLVED, ROUTINELY FAIL AT, OR AVOID ALTOGETHER — and convey that the company is currently succeeding at that hard thing in real, live operations?" Need answer YES if management's own words convey one coherent picture with both halves present as present-tense reality. Here, no. They describe a utility executing rate strategy, investing in infrastructure, regulatory relationships. No mention of competitors failing, no hard problem. They mention "pure play" and "fully regulated" but that's not a hard problem. They mention "we're now able to have a singular focus" after divesting nonregulated marketing.
NO Committed step-up ahead: secured business will make the company meaningfully bigger within the coming year
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES/NO. Need evaluate transcript. Need determine if management describes specific body of future business already committed, material, near-term. Let's parse. Question asks: "Using ONLY supplied earnings call transcript... Does management describe a SPECIFIC body of future business that counterparties have ALREADY COMMITTED to the company — such as signed contracts, awarded programs, firm orders, a swelling order book, a won customer relationship now ramping, or a new facility, product, or capacity entering service with committed demand attached — that is (a) already secured or already beginning rather than merely hoped for, pipeline, or under negotiation, (b) large enough relative to company's current size that management treats delivering it as making company meaningfully bigger than recent results show, and (c) expected to convert into actual revenue or activity beginning within roughly next year, with management discussing how company is preparing to or already starting to deliver it? Answer YES when all three elements come through in management's own words as one coherent situation... NO if forward story rests on demand strength, market opportunity, pipeline, bids outstanding, or deals still being negotiated rather than business actually committed; NO if secured business is routine in size, flat/declining, normal backlog; NO if distant, undated, contingent; NO if management chiefly explaining delays; NO if step-up described only by analyst and not affirmed by management." We need identify if any specific committed future business. Transcript includes: acquired 140-mile pipeline for $85 million to provide additional capacity to serve growing North Texas market. It drives increased access in Barnett Shale, Oklahoma, Northeast gas supply basins. They acquired with transportation contracts? Let's read: "In addition, in December we acquired a 140 mile 24-inch pipeline for $85 million to provide additional capacity to serve our growing North Texas market. It also drives increased access in the Barnette Shale, Oklahoma and the Northeast gas supply basins." Later Kim: "It's immediately accretive given the transportation contracts we have that we acquired with the pipeline and that piece of that pipeline provides significant benefits to our customers. It was mentioned earlier, it's 140 miles. It runs West to East, North of the DFW Metroplex.
NO After the books closed: the quarter's biggest news happened too late to be in the numbers
Original model output from the research archive. It may be verbose or include the model's working notes.
We need to determine if management reports that the most important positive developments happened so late in the period or shortly after it ended that the results contain little or none of their effect, with management itself marking the timing. Let's analyze the transcript. The call is for Q1 2017 (fiscal year ending September 30, 2017? Actually fiscal year ends September 30, so Q1 is October-December 2016). The call is on February 8, 2017. Key points: Management discusses rate outcomes, capital spending, and the acquisition of a pipeline. The acquisition of a 140-mile 24-inch pipeline for $85 million was completed in December (which is within the quarter, but near the end). They mention that the transaction closed on December 20, which is in the quarter. They say it's not included in the rate case filed, but will be included in a GRIP filing in the fourth quarter. They also mention that the pipeline provides immediate benefits. But is this the most important positive development? They also discuss rate filings and regulatory progress. The acquisition is significant but they don't emphasize that it happened so late that results don't reflect it. They say it closed on December 20, which is within the quarter, and they talk about its benefits going forward. They don't say that the reported results contain little or none of its effect. They do mention that the pipeline is not in the rate case, but that's a regulatory matter, not a timing issue for the quarter's results. Another point: They mention that they exited the nonregulated gas marketing business effective January 1, which is after the quarter ended. That is a divestiture, not a positive development. They report it as discontinued operations. They also mention that they expect to make 12-15 more filings this fiscal year, but that's forward-looking. The question asks: "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?" We need to see if management explicitly says that the positive developments occurred late and that the results don't reflect them. They do mention the pipeline acquisition closed in December, but they don't say that the quarter's results don't reflect it.
NO The bridge is already built: management walks investors from today's numbers to a bigger business using only pieces alre
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer only YES/NO. Need evaluate based on transcript. Need determine if management's forward explanation over next year built primarily out of specific pieces already secured/in motion, not hopes, such that results understate locked-in business. Let's parse transcript. Atmos Energy, utility. Management discusses rate filings, capital investments, regulatory mechanisms. They have rate outcomes providing annual operating increases ~$20 million and pending filings seeking ~$78 million. Expect 12-15 more filings this fiscal year requesting $70-80 million additional operating increases. They have capital program $1.1-1.25B, etc. They mention APT general rate case filed, procedural schedule, statutory deadline July 10. They mention rate mechanisms in Louisiana, Tennessee, West Texas, Dallas. They mention acquired 140-mile pipeline for $85 million in December, to provide capacity, not yet in rates, will be included in GRIP filing in fourth quarter. They mention sale of nonregulated business complete. They mention customer growth, industrial expansions. They mention O&M increased due to accelerated pipeline maintenance, expected to come back in line. They reaffirm guidance. Question asks: "On this call, when management explains where the company's business is heading over roughly the NEXT YEAR, does it build that explanation primarily out of SPECIFIC PIECES THAT ARE ALREADY SECURED OR ALREADY IN MOTION — rather than out of market hopes, pipeline, or general demand — such that the results just reported visibly UNDERSTATE the business the company has already locked in?" Need answer YES if management's own words convey one coherent posture: path from today's reported numbers to meaningfully larger/stronger near-term business is walk across pieces that already exist, nameable. Pieces may include rate filings already in motion, acquisitions closed, scheduled filings, etc. Need consider if these are "already secured or in motion" and "material together." Management discusses rate cases pending, expected filings, capital investments. But are these "already secured"? Rate filings are requests, not yet approved. They are in motion but contingent on regulatory approval. However, management may treat them as part of regulatory framework with high confidence. But question says "already committed, contracted, built, launched, closed, or scheduled" not prospects.
NO Small company already selling a lot to one hot market — management describes riding an outside spending wave far bigger
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES/NO. Need analyze transcript. Need determine if management describes one specific external spending surge/build-out/adoption wave current business tied to, wave set by others, early/accelerating, company already materially levered, share small. Let's parse transcript. Atmos Energy natural gas utility. Mentions customer growth, industrial expansions, GM plant in Tennessee expanded third shift, automotive component manufacturers, Kentucky distillers expanding, CNG fleets UPS/Waste Management in Kansas City. Also North Texas growth, Barnett Shale, pipeline acquisition. But question asks ONE coherent situation with named outside wave of spending/adoption. Is there a specific external surge? Maybe "natural gas vehicles" CNG? They supply natural gas to fuel UPS' Waste Management CNG fleet. Both CNG facilities came online in 2016. Is that a wave? Not described as large/current material? It's one example among transportation revenues. No. Maybe "industrial expansions" in Tennessee/Kentucky? GM plant expansion and distillers. But not a named wave, not quantified, not early/accelerating? They say increased production has positive trickledown. Not enough. Maybe "growing North Texas market" and Barnett Shale? The pipeline acquisition provides capacity to serve growing North Texas market. But that's company's own service territory growth, not external spending wave? Customer growth 0.8% ~24k. Not a named external surge. Maybe "rate cases" regulatory mechanisms? No, that's company's own regulatory strategy. Maybe "infrastructure investment" by company itself? No, outside wave? No. Question asks "large and identifiable share of company's CURRENT business is already tied to ONE specific external spending surge, build-out, or adoption wave happening in its customers' world right now — a wave whose scale and pace are set by parties OTHER than this company (its customers, an industry, or a government/institutional program) — and does management convey that this wave is still early or accelerating, so that the company's own volumes from it are expected to keep climbing well beyond current levels?" Need answer based only transcript. Let's examine all possible external waves. - "industrial expansions and increased demand for natural gas. As an example, in Tennessee, the General Motor's plant in Spring Hill has expanded and recently added a third shift.
NO Escalation cadence: management recounts upgrading its own response multiple times in quick succession as the same positi
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer only YES or NO. Need analyze transcript for pattern. Need determine if management recounts responding to positive development more than once in quick succession with repeated same-direction upgrades. Let's parse. Company Atmos Energy, utility. Positive developments? Rate outcomes, customer growth, industrial expansions, pipeline acquisition. Need see if management describes sequence of two or more distinct sequential upgrades in response to same force, each already taken, and force still running. Possible examples: Capital spending? They invest $1.1-1.25B, then $1.1-1.4B through 2020. Not repeated upgrades. Pipeline acquisition: They acquired 140-mile pipeline for $85 million to provide additional capacity to serve growing North Texas market. Is that one step? Did they then add more? They mention "we have one interconnect with our system today. We expect to add three others." That's future, not already taken. Not two upgrades. Rate filings: They made filings, expect 12-15 more. Not response to positive force? Rate relief is primary driver. But not "upgrades" in capacity. Customer growth: "distribution business also continues to add customers, resulting in $2 million increase in gross profit." No repeated steps. O&M: accelerated pipeline maintenance in first quarter because crews available. Not positive force. Maybe "we've begun sixth consecutive year of executing strategy" - no. Question asks: "On this call, does management recount that, within the recent period or the last few quarters, the company RESPONDED TO A POSITIVE DEVELOPMENT MORE THAN ONCE IN QUICK SUCCESSION — that is, management describes a sequence in which it took a real step to serve, supply, staff, produce, or expand for improving business, found that step OVERTAKEN by continued strength, and then STEPPED UP AGAIN — so that the story of the period, in management's own telling, is a cadence of repeated same-direction upgrades to the company's own actions rather than a single adjustment?" Need look for any such pattern. Maybe in pipeline acquisition? They bought pipeline to serve North Texas growth. Did they previously add capacity? They mention "we have one interconnect with our system today. We expect to add three others." That's future. Not. Maybe in rate cases? They file cases, then more filings. But that's regulatory, not response to positive business strength.
NO Analysts still asking about the old story while management keeps pointing to a new driver already producing
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES/NO. Need analyze transcript. Need determine if mismatch between analysts' questions and management redirection to newer driver with concrete current evidence. We need parse call. Company Atmos Energy, pure-play regulated natural gas utility after divesting nonregulated marketing. Analysts ask about: short-term debt/hedges, pipeline sharing mechanism, rate case, tax reform, capital spending, APT general rate case, acquired pipeline, AEM sale, payout ratio, Permian capacity, etc. Management repeatedly emphasizes regulatory strategy, rate outcomes, infrastructure investments, becoming safest gas utility, rate filings, APT case, GRIP, acquired North Texas pipeline. Is there a mismatch? Analysts seem focused on established concerns: pipeline rate case, tax, debt, sharing mechanism. Management redirects to "rate relief" and "infrastructure investments" as primary driver, and "newer driver" maybe the APT general rate case? Or acquired pipeline? Need identify. Question asks: "analysts keep asking about" older established concern/storyline (weak/declining legacy business, past losses/missteps, macro/industry worry, or core business everyone already knows), while management repeatedly redirects attention to a DIFFERENT, IDENTIFIABLE part of business that says ALREADY producing real results today — and management backs with concrete current evidence. Need see if this dynamic exists. Analysts ask about pipeline rate case, tax reform, debt, sharing mechanism, payout. Management points to "rate outcomes" and "regulatory framework" as primary driver, "rate relief" producing $27 million incremental margin, "rate filings" seeking $78 million, "capital investment" $1.1-1.25B, "acquired pipeline" $85 million providing capacity, "customer growth" 24,000, "transportation revenues" from industrial expansions, CNG fleets, etc. Is that a "newer driver" distinct from analysts' focus? Maybe management's story is "fully regulated utility" after divesting nonregulated marketing. Analysts ask about pipeline business (regulated) and tax, not legacy marketing. Management redirects to "rate relief" and "infrastructure investment" as primary driver. But analysts are also asking about rate case and pipeline, which is part of that. Hmm. Need be careful. The prompt asks "using ONLY transcript" and answer YES/NO. Need decide. Let's examine transcript in detail.
NO First domino, named next dominoes: management generalizes a fresh win into a repeatable template and points to the speci
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES/NO based on transcript. Need identify if management takes recent real success and generalizes as repeatable template, and identifies specific next places already in motion. Let's parse transcript. Management discusses various successes: rate cases, customer growth, capital investments, pipeline acquisition. Need find "template" reasoning. Key candidate: The acquisition of 140-mile pipeline for $85 million to serve North Texas. Management says it provides additional capacity, access to supply. But is it a template? They don't say repeatable. Another: Rate strategy. They have many filings. But that's routine cadence. Another: Customer growth examples: GM plant expansion, distilleries, CNG facilities. But no template. Another: The APT rate case? No. Look for "template" or "blueprint" or "repeatable" language. Management says "we've begun our sixth consecutive year of executing our strategy to grow by investing in our regulated assets." That's general. Question asks: Does management take a RECENT, REAL SUCCESS and explicitly generalize it as template, and identify specific next places where same template is already being applied? Need find if any specific success is treated as repeatable with next instances. Maybe the pipeline acquisition: They bought a pipeline, and they say it will be integrated, and they have growth north of Metroplex. But no mention of repeating similar acquisitions. Maybe the "rate mechanisms" - they have annual mechanisms in various jurisdictions. They file many cases. But that's routine. Maybe the "CNG facilities" - they supply natural gas to UPS and Waste Management CNG fleets. Both came online in 2016. Is that a template? They don't say "we will replicate this with other fleets." Maybe the "industrial expansions" - GM plant expansion, distilleries. No. Maybe the "customer growth" - 0.8% net customer growth. No. Maybe the "sale of nonregulated business" - now pure play. No. Let's read carefully for any "first" and "next" pattern. Management mentions "we've begun our sixth consecutive year of executing our strategy to grow by investing in our regulated assets." That's not a specific success. They mention "the filing as you recall, is required by the GRIP Statute and will provide a comprehensive review..." No. They mention "we expect to make between 12 to 15 more filings this fiscal year" - that's routine.
NO Someone else's money is already committed to buy what this company makes
Original model output from the research archive. It may be verbose or include the model's working notes.
The question asks whether management explains its forward business primarily by pointing to budgets, funds, or spending commitments that other parties have already set aside. Let me analyze the transcript carefully. Key elements to look for: 1. A spending pool that exists and is already committed on someone else's side 2. The company is already drawing on it, and most of the pool is still unspent Let me review what management actually says about their forward business: - Kim Cocklin talks about rate filings, regulatory framework, infrastructure investments - They discuss capital spending of $1.1-1.25 billion (this is the company's own capital budget, not someone else's) - They discuss rate cases and regulatory mechanisms - They discuss customer growth, industrial expansions (GM plant in Tennessee, distilleries in Kentucky, CNG facilities) - They discuss the APT rate case and GRIP filings The company's forward business is explained primarily through: 1. Rate relief and regulatory mechanisms (rate cases, GRIP filings) 2. Capital investment program (their own spending) 3. Customer growth and industrial expansions 4. Infrastructure investments The rate cases are about recovering costs and earning returns on their own investments - this is about regulatory approval, not about a pool of money that someone else has committed to spend. The customer growth examples (GM plant expansion, distilleries, CNG facilities) are about demand from customers, but these are described as individual expansions, not as a committed pool of funds that the company is drawing down. The capital spending is the company's own capital budget, not money committed by others. The rate mechanisms are regulatory frameworks that allow the company to recover costs - these are not pools of money that others have committed to spend on the company's services. There's no mention of government appropriations, infrastructure funds, insurance settlements, or other external committed spending pools that the company is drawing from. The company's forward business is explained through: - Its own capital investment program - Regulatory rate mechanisms - Customer growth and demand - Industrial expansions This is essentially the company explaining its business through its own investment program and regulatory recovery mechanisms, not through a committed external spending pool. The answer is NO.
NO Sunk cost, unsold output: the productive capacity already exists and is only partly claimed
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer only YES or NO. Need determine from transcript if management conveys productive capability currently larger than what business is using, already exists, filling it is present task. Need parse. Transcript: Atmos Energy. They discuss pipeline acquisition, capacity, growth. Need see if management says existing capacity underutilized and working to fill. There is mention "We have some capacity available yes and there has been a lot of interest in conversations with producers." In response to question about West Texas pipeline capacity. Also "We have some capacity available" and "200 million a day" maybe. Also "We don't have the capability right now, but in the future we would have capability to bring gas into system from Oklahoma..." That's future not existing. The question asks "does management convey that company's productive capability is currently larger than what its business is using" i.e., existing headroom. Management says "We have some capacity available" on pipeline system. Is that enough? Need evaluate context: Analyst asks "Is there any more room to squeeze any more volumes on the western end of the system?" Kim: "We have some capacity available yes and there has been a lot of interest in conversations with producers." Then analyst asks quantify, Kim says "I mean it's in the 200 million a day I think we have to trade this one down." This indicates existing capacity available on pipeline, and interest from producers. Is management actively working to fill it? They say "there has been a lot of interest in conversations with producers." Also earlier "we are in a good location out there and we have expanded in the past, so we have the capability with our right away that we have in place to potentially look at the flow studies that would incorporate some additional looping of lines to increase capacity or we could add compression. And that's all certainly you know a daily task that we look at and if the need arises and the opportunity arises we are in positions to take full advantage of it." Hmm that's about future expansion, not filling existing unused capacity. But "We have some capacity available" is existing. Is it "materially more" than presently serving? 200 million a day maybe. Is management "actively working to load it up"? They mention conversations with producers. But is that the main opportunity? Not necessarily.
NO Strong facts, held-back story: management reports concrete strengthening but deliberately keeps expectations below it
Original model output from the research archive. It may be verbose or include the model's working notes.
We need answer YES or NO. Need analyze transcript. Need determine if management both reports concrete already-occurring strength and visibly holds story back. Let's parse. Company Atmos Energy Q1 2017. Management reports strong results: net income up, rate increases, customer growth, transportation revenues up, industrial expansions, CNG fleets, etc. They reaffirm guidance unchanged. They say "off to another very, very good start." "We are off to another very, very good start." "We continue to refine..." They report positive rate outcomes, $27M incremental margin, customer growth 0.8%, etc. They reaffirm fiscal 2017 EPS guidance $3.45-$3.65. They have long-term guidance 6-8% EPS growth, 410-440 by 2020. They don't raise guidance despite strong quarter. Is that restraint? Need see if they explicitly hold back. They say "guidance and assumptions remain unchanged." They say "we are very confident that we went ahead and restated and reconfirmed the guidance at that level. So, we are obviously again -- first quarter start, we thought we had an excellent quarter. Everything is performing as expected. We might have spend a little bit on O&M, but we expect that to come back in line. So, everything is lining up right now to provide us to meet the commitments..." This is not necessarily holding back; they reaffirm. They don't raise. But is there visible gap? They report strong quarter but guidance unchanged. However, guidance was already set. They might be under-promising? Need see if management explicitly cautions against extrapolating? They say "It's very early" in response to question about low/high end. "It's very early and we are very confident that we went ahead and restated and reconfirmed the guidance at that level." That is caution? They don't raise. But is that deliberate restraint amid strength? They say "Everything is performing as expected." So no gap: results are as expected, not ahead of plan. They report strength but it's in line with guidance. The question asks: Does management BOTH report concrete already-occurring strength AND visibly hold story back from that strength — deliberately keeping stated expectations, forecasts, or framing more modest than reported facts would support? Need find if management says demand/momentum stronger than built into guidance. They don't. They say "Everything is performing as expected." They reaffirm.
NO Compounding evidence: management cites customer behavior, not just customer numbers, as proof the offering is winning
Original model output from the research archive. It may be verbose or include the model's working notes.
The question asks whether management grounds its case for the business in observed customer or counterparty behavior from the recent period, rather than only in the company's own results, effort, or plans. Let me scan the transcript for concrete behavioral evidence from customers or counterparties. Looking at the transcript, I see mentions of: - "industrial expansions and increased demand for natural gas" - specifically the General Motors plant in Spring Hill expanding and adding a third shift, with positive trickledown to automotive component manufacturers - "several of our distillery customers in Kentucky are expanding and natural gases used in processing the mash" - "in the Kansas City area, we supply the natural gas used to fuel UPS' Waste Management CNG fleet. Both CNG facilities came online in 2016" - "net customer growth of about 0.8% or about 24,000 customers" These are concrete examples of customer behavior - GM expanding operations, distilleries expanding, UPS CNG facilities coming online. These are described as observed behaviors in the recent period. Now, does management treat this behavior as core proof with more still ahead? Let me check... The customer growth and transportation revenue increases are mentioned as contributing factors to results, but the primary driver cited throughout is rate outcomes and regulatory framework. The CEO says "Positive rate outcomes remain the primary driver of our success" and "Rate increases for our distribution and pipeline storage segments combined, generated almost $27 million in incremental margin." The customer behaviors (GM expansion, distilleries, UPS CNG) are mentioned as contributing to transportation revenue increases of about $2 million, but they're presented as supporting factors rather than the core proof of where the company is heading. The company's case for growth is built primarily on its capital investment strategy, rate recovery mechanisms, and regulatory relationships. The customer examples are somewhat anecdotal - GM, distilleries, UPS - and while they show real behavior, management doesn't present these as the central evidence for future growth. The growth case is built on the regulatory framework and capital investment program, not on observed customer behavior patterns. Also, the customer growth of 0.8% is modest and presented as a supporting factor, not the core driver.
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ATO call history
Open a quarter only when you want its detailed evidence.
C Q2 2025 · Caution · 2025-05-08Management gave no formal guidance against steady demand.
C Q1 2025 · Caution · 2025-02-05Management held guidance steady against steady demand and expanding margins. The delivery was rich in specifics.
View the 20 core call-quality checks
A Q4 2024 · Exceptional call · 2024-11-07Management raised guidance against accelerating demand. The delivery was unusually candid, rich in specifics, relaxed under questioning.
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B+ Q3 2024 · Strong call · 2024-08-08Management raised guidance against accelerating demand and expanding margins. The delivery was unusually candid, rich in specifics, relaxed under questioning.
View the 20 core call-quality checks
A Q2 2024 · Exceptional call · 2024-05-09Management raised guidance against accelerating demand and expanding margins. The delivery was unusually candid, rich in specifics, relaxed under questioning.
View the 20 core call-quality checks
A Q1 2024 · Exceptional call · 2024-02-07Management held guidance steady against accelerating demand and expanding margins. The delivery was unusually candid, rich in specifics, relaxed under questioning.
View the 20 core call-quality checks
B+ Q4 2023 · Strong call · 2023-11-09Management held guidance steady against accelerating demand. The delivery was unusually candid, rich in specifics, relaxed under questioning.
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View 33 earlier calls
| Call | Date | Grade | Guidance | Demand | Margins | Candor | Evasion |
|---|---|---|---|---|---|---|---|
| Q3 2023 | 2023-08-03 | B+ | maintained | stable | stable | 8/9 | 2/9 |
| Q2 2023 | 2023-05-04 | B | raised | accelerating | stable | 7/9 | 4/9 |
| Q1 2023 | 2023-02-08 | B+ | maintained | accelerating | stable | 8/9 | 2/9 |
| Q4 2022 | 2022-11-10 | B | maintained | stable | stable | 7/9 | 2/9 |
| Q3 2022 | 2022-08-04 | A | maintained | stable | stable | 7/9 | 2/9 |
| Q2 2022 | 2022-05-05 | B | maintained | stable | stable | 7/9 | 2/9 |
| Q1 2022 | 2022-05-05 | A | maintained | accelerating | stable | 8/9 | 2/9 |
| Q1 2022 | 2022-02-09 | A | maintained | stable | stable | 7/9 | 1/9 |
| Q4 2021 | 2021-11-12 | B | maintained | accelerating | stable | 7/9 | 2/9 |
| Q3 2021 | 2021-08-05 | B | maintained | stable | stable | 7/9 | 3/9 |
| Q2 2021 | 2021-05-06 | B+ | maintained | accelerating | expanding | 7/9 | 2/9 |
| Q1 2021 | 2021-02-03 | A | maintained | stable | expanding | 7/9 | 1/9 |
| Q4 2020 | 2020-11-12 | A | maintained | mixed | stable | 7/9 | 2/9 |
| Q2 2020 | 2020-08-09 | A | raised | mixed | stable | 7/9 | 4/9 |
| Q3 2020 | 2020-08-06 | C+ | maintained | mixed | stable | 7/9 | 3/9 |
| Q2 2020 | 2020-05-09 | A | maintained | stable | stable | 7/9 | 2/9 |
| Q1 2020 | 2020-02-05 | A | maintained | stable | stable | 7/9 | 2/9 |
| Q4 2019 | 2019-11-07 | A | raised | stable | stable | 7/9 | 1/9 |
| Q3 2019 | 2019-08-08 | B+ | raised | stable | stable | 8/9 | 2/9 |
| Q2 2019 | 2019-05-08 | B | maintained | stable | expanding | 7/9 | 2/9 |
| Q1 2019 | 2019-02-06 | B | maintained | stable | stable | 7/9 | 3/9 |
| Q4 2018 | 2018-11-08 | A | raised | stable | expanding | 7/9 | 0/9 |
| Q3 2018 | 2018-08-09 | A | maintained | stable | contracting | 7/9 | 1/9 |
| Q2 2018 | 2018-05-05 | B+ | maintained | stable | expanding | 8/9 | 1/9 |
| Q1 2018 | 2018-02-07 | A | raised | stable | expanding | 8/9 | 1/9 |
| Q4 2017 | 2017-11-10 | A | raised | stable | expanding | 7/9 | 2/9 |
| Q3 2017 | 2017-08-05 | A | raised | stable | expanding | 8/9 | 1/9 |
| Q2 2017 | 2017-05-06 | A | maintained | stable | expanding | 7/9 | 2/9 |
| Q1 2017 | 2017-02-08 | A | maintained | stable | expanding | 8/9 | 2/9 |
| Q4 2016 | 2016-11-10 | A | maintained | stable | expanding | 7/9 | 1/9 |
| Q3 2016 | 2016-08-05 | A | maintained | stable | expanding | 7/9 | 2/9 |
| Q2 2016 | 2016-05-08 | A | maintained | stable | stable | 8/9 | 1/9 |
| Q1 2016 | 2016-02-03 | A | maintained | stable | stable | 7/9 | 1/9 |