Analyzing Sentiment in Quarterly Earnings Calls Q3 2024

For the S&P 500, the Q3 2024 Net Positivity score of 1.23% is slightly lower than last quarter (1.24%), but slightly above the trailing one-year average of 1.21%. Seven of the 11 sectors increased their score from Q2, but a large drop for the Consumer Discretionary sector dragged the index aggregate down.

Breaking down the Q3 Net Positivity scores by sections of the earnings call transcripts, the average S&P 500 Presenter Speech section had a Net Positivity score of 1.68%, with positive language dropping to 1.18% by the time the call reached the Question and Answer section.

The S&P 500 had a Numeric Transparency score of 2.08% in Q3, slightly higher than Q2 (2.07%) but lower than the YoY average (2.29%). Financials was the most numerically transparent sector in the quarter with a score of 2.34%, while Consumer Staples was the least transparent (1.72%).