Catalent, Inc. (CTLT) — Earnings Call X-Ray
Our AI read all 31 of CTLT's earnings calls (2016–2023) and answered the same battery of questions about each one. Every past call is free; the newest quarter unlocks with a free account.
Previous Call Grade
F
Q4 2023
Calls Analyzed
31
2016–2023
Avg Candor
6.7/9
evasion 3.6/9
Call-by-call analysis
🔒 Q1 2024 earnings call
2023-11-15
NEWEST
Guidance: ■■■■■Demand: ■■■■■■
Margins: ■■■■Backlog: ■■■■
■ analysts, ■■ questionsexpected move ±■■%
Management ■■■■■■ guidance against ■■■■■■■■ demand and ■■■■■■■ margins. The delivery was ■■■■■■■■ and ■■■■ in specifics, with ■■■ questions left hanging.
🔒 The Q1 2024 call grade is ready
The full 37-point AI read of CTLT's newest earnings call — grade, expected move, and every question answered — is free with an account.
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F
Q4 2023 earnings call
2023-08-29
move ±10.1%
Management held guidance steady against mixed demand signals and contracting margins. The delivery was unusually candid, rich in specifics, visibly under pressure.
Guidance: maintainedDemand: mixedMargins: contractingPricing: stableHeadcount: cuttingCapex: decreasing 11 analysts · 22 questions
⚑ Critic ammunition⚑ Question left hanging✓ Volume step-up ahead✓ Early product, fast growthHidden segmentDirection beats results
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
NO Is management's confidence proportionate to the evidence presented?
NO Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
YES Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
F
Q3 2023 earnings call
2023-06-12
move ±13.5%
Management lowered guidance against mixed demand signals and contracting margins. The delivery was unusually candid, rich in specifics, visibly under pressure.
Guidance: loweredDemand: mixedMargins: contractingPricing: stableHeadcount: cuttingCapex: decreasing 9 analysts · 18 questions
⚑ Critic ammunition⚑ Question left hanging✓ Prepayments growing✓ Volume step-up ahead✓ Early product, fast growthHidden segment
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
NO Is management's confidence proportionate to the evidence presented?
NO Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
YES Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
YES Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
D
Q2 2023 earnings call
2023-02-07
move ±12.4%
Management held guidance steady against mixed demand signals and contracting margins. The delivery was rich in specifics.
Guidance: maintainedDemand: mixedMargins: contractingBacklog: growingPricing: stableHeadcount: cuttingCapex: flat 12 analysts · 23 questions
⚑ Critic ammunition⚑ Question left hanging✓ Prepayments growing✓ Volume step-up ahead✓ Early product, fast growth⚑ Reads rehearsed
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
NO Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
YES Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
YES Is a fast-growing segment obscured by a declining one?
YES Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
F
Q1 2023 earnings call
2022-11-01
move ±21.9%
Management lowered guidance against slowing demand and contracting margins. The delivery was rich in specifics.
Guidance: loweredDemand: slowingMargins: contractingBacklog: stablePricing: raisingCapex: decreasing 12 analysts · 28 questions
⚑ Critic ammunition⚑ Question left hanging✓ Volume step-up ahead✓ Early product, fast growthHidden segmentCFO dominates
All 20 questions our AI answered about this call
NO Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
NO Is management's confidence proportionate to the evidence presented?
NO Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
YES Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
YES Is a fast-growing segment obscured by a declining one?
YES Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
From the research question bank
1 more research questions answered NO
C+
Q4 2022 earnings call
2022-08-29
move ±10.9%
Management raised guidance against steady demand and expanding margins. The delivery was rich in specifics.
Guidance: raisedDemand: stableMargins: expandingBacklog: growingPricing: raisingCapex: increasing 13 analysts · 23 questions
⚑ Critic ammunition✓ Skeptic reassured✓ Guidance underwritable✓ Resolves doubts✓ Prepayments growing✓ Early product, fast growth
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
NO Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
YES Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
YES Are deferred revenue or customer prepayments growing?
YES Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
YES Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C
Q3 2022 earnings call
2022-05-03
move ±13.4%
Management raised guidance against accelerating demand. The delivery was rich in specifics, frequently evasive.
Guidance: raisedDemand: acceleratingMargins: stableBacklog: growingPricing: raisingHeadcount: growingCapex: increasing 9 analysts · 18 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Resolves doubts✓ Volume step-up ahead✓ Early product, fast growth
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
NO Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
YES Is volume about to step up rather than grow gradually?
YES Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
YES Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
YES Does the call read rehearsed rather than lived?
C
Q2 2022 earnings call
2022-02-02
move ±10.8%
Management raised guidance against accelerating demand and expanding margins. The delivery was rich in specifics, promotional in tone.
Guidance: raisedDemand: acceleratingMargins: expandingBacklog: growingPricing: stableHeadcount: growingCapex: increasing 11 analysts · 21 questions
⚑ Critic ammunition✓ Skeptic reassured⚑ Question left hanging✓ Guidance underwritable✓ Resolves doubts✓ Early product, fast growth
All 20 questions our AI answered about this call
YES Would a skeptical short-seller find this call reassuring?
YES Would a careful investor underwrite management's guidance?
YES Is management's confidence proportionate to the evidence presented?
YES Does the call resolve more doubts than it creates?
YES Is there something a critic could fairly use against the company?
NO Is a claimed advantage dependent on scale they lack?
YES Does an obvious question remain unanswered?
YES Is a product early in its life but growing very fast?
NO Do they serve a small fraction of their addressable customers?
NO Is volume about to step up rather than grow gradually?
NO Are high fixed costs currently underutilised?
NO Is pricing recovering from a depressed level?
NO Do current results look bad while the direction looks better?
NO Are deferred revenue or customer prepayments growing?
NO Is consolidation happening among their peers?
NO Is a founder still running the company?
NO Does the final speaker sound like they are summarizing a finished story?
NO Is a fast-growing segment obscured by a declining one?
NO Does the CFO speak more than the CEO?
NO Does the call read rehearsed rather than lived?
Earlier calls
| Call | Date | Grade | Guidance | Demand | Margins | Candor | Evasion |
|---|
| Q3 2021 |
2021-11-02 |
C+ |
raised | accelerating | expanding |
6/9 |
4/9 |
| Q4 2021 |
2021-08-30 |
B+ |
raised | accelerating | expanding |
7/9 |
2/9 |
| Q3 2021 |
2021-05-04 |
C |
raised | accelerating | expanding |
5/9 |
7/9 |
| Q2 2021 |
2021-02-02 |
B+ |
raised | accelerating | expanding |
7/9 |
4/9 |
| Q1 2021 |
2020-11-03 |
C+ |
raised | accelerating | expanding |
6/9 |
6/9 |
| Q4 2020 |
2020-08-31 |
C+ |
raised | accelerating | contracting |
6/9 |
5/9 |
| Q3 2020 |
2020-05-09 |
C |
lowered | mixed | stable |
7/9 |
4/9 |
| Q2 2020 |
2020-02-03 |
C+ |
raised | accelerating | expanding |
6/9 |
4/9 |
| Q1 2020 |
2019-11-06 |
C+ |
maintained | accelerating | expanding |
6/9 |
3/9 |
| Q4 2019 |
2019-08-27 |
B |
raised | accelerating | expanding |
7/9 |
4/9 |
| Q2 2019 |
2019-02-05 |
C+ |
maintained | accelerating | expanding |
7/9 |
3/9 |
| Q1 2019 |
2018-11-06 |
C+ |
maintained | mixed | contracting |
7/9 |
2/9 |
| Q4 2018 |
2018-08-28 |
C+ |
maintained | mixed | expanding |
7/9 |
3/9 |
| Q3 2018 |
2018-05-01 |
B |
maintained | accelerating | stable |
8/9 |
2/9 |
| Q2 2018 |
2018-02-05 |
B+ |
raised | accelerating | expanding |
8/9 |
2/9 |
| Q1 2018 |
2017-11-06 |
B+ |
raised | accelerating | stable |
8/9 |
2/9 |
| Q4 2017 |
2017-08-28 |
A |
maintained | accelerating | expanding |
7/9 |
1/9 |
| Q3 2017 |
2017-05-04 |
B+ |
maintained | accelerating | expanding |
7/9 |
2/9 |
| Q2 2017 |
2017-02-06 |
B+ |
maintained | accelerating | stable |
7/9 |
3/9 |
| Q1 2017 |
2016-11-08 |
C+ |
maintained | stable | contracting |
7/9 |
3/9 |
| Q4 2016 |
2016-08-29 |
B+ |
maintained | accelerating | expanding |
8/9 |
3/9 |
| Q3 2016 |
2016-05-04 |
D |
lowered | mixed | contracting |
7/9 |
3/9 |
| Q2 2016 |
2016-02-09 |
C+ |
lowered | stable | contracting |
8/9 |
3/9 |
Research question bank — earlier calls
During our 1,600-question research program, batches of experimental hypotheses were tested directly against some of CTLT's earlier calls. The YES answers — the rare hits — are shown; click any question to see every company that matched it. Full list: the question bank.
C+
Q1 2020 earnings call
2019-11-06
1 more research questions answered NO
B
Q3 2018 earnings call
2018-05-01
7 more research questions answered NO
A
Q4 2017 earnings call
2017-08-28
1 more research questions answered NO
How to read this page
The grade is a transparent composite of call quality — candor, specificity, low evasion, low stress, whether the call resolves more doubts than it creates, and the guidance action — not a buy or sell signal. The expected move is a volatility estimate from the one signal that survived our out-of-sample tests: how a stock's own reaction and pre-call volatility predict the size (not direction) of its next move. Full detail, including everything that failed: methodology.
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Not investment advice. Artul.ai publishes AI-generated earnings-call quality grades and expected-volatility estimates — never buy or sell recommendations. We tested over 1,600 predictive hypotheses against 165,000 transcripts; the honest result, including what failed, is documented in our
methodology.