Earnings calls are conference calls or webcasts at which a public company’s management team discusses the company’s financial performance from the previous reporting period (usually a quarter). Participants include investors, financial analysts, and others, including shareholders. Reading transcripts from these earnings calls and listening to audio recordings can be a great way to glean information about a company’s performance and plans for its future directly from the company leaders themselves.
While archival transcripts of calls can be easy to find, audio broadcasts of earnings calls can sometimes be more challenging to find. Often, companies will only make them available for a limited amount of time following the actual earnings call. If you wish to listen to the broadcast, you will need to keep track of when a particular company’s earnings calls are and how long they make their broadcasts available after the call. For example, Apple only makes their broadcasts available for two weeks after the call. While archives of audio recordings will not be as extensive as those for the written transcripts, you can often find at least the recordings for the last call or two for a given company.
The Lippincott Library has a number of resources where you can access these materials.
A Company’s Investor Relations Website
You can often find earnings call transcripts on the Investor Relations section of a company website. You can typically find a link to the Investor Relations site on the main company website. If it is not on the homepage, where it is often a small link at the bottom, it is on the “About” or “Our Company” link or its equivalent. You can also find the Investor Relations page by searching on the web for the name of the company and “investor relations.” On their Investor Relations websites, companies will often share their earnings information, stock information, news, information on investor events, and the structure of their corporate governance, among other things that may be of interest to their investors. Some companies, like Netflix and Apple, will also include a link to the audio broadcast of the earnings call on their site.
Here is a screenshot of Netflix’s Investor Relations page.
If you click on “Quarterly Earnings”, you can see an archive of transcripts, including audio links where available.
Thomson One Streetevents is a great resource for earnings call transcripts and some limited audio recordings. (Note that Thomson One only works in Internet Explorer and best in versions 7-9. See our blog post for an IE10 workaround.) For audio and written transcripts, search for your company of choice using the search box in the top left-hand corner, and then click on News & Corporate Events > Corporate Events.
Under “Past Events”, you will see the list of earnings calls. If the small speaker symbol next to the call is not grayed out, you will be able to listen to the audio of the call.
The transcripts of the calls are also available on this page, but if you would like to generate a list of just the available written transcripts, you can do that as well.
To start, click on Screenings & Analysis at the top of the Thomson One home screen, then click on Research > Research Search. Enter the name or ticker symbol of the company whose earnings call transcripts you wish to view in the “Company” box. Change the date range to the range of your choosing, and enter “Thomson Reuters Streetevents” in the “Contributor” box. Click “Search.”
The system will generate a list of all available earnings call transcripts for the company and time frame that you selected. You are able to download them by clicking the checkbox next to the name of the report that you wish to view and clicking “View.” You can then download the entire report or just relevant pages.
Dow Jones Factiva also has earnings call transcripts, although they often include just a summary of the company’s presentation, along with the analysts’ questions, instead of including the word-for-word transcripts that are usually included with the Thomson Reuters Streetevents transcripts. To search for an earnings call transcripts in Factiva, scroll over Search and select Search Builder. Then, in the Free Text box, enter rst=fndw and hd=[company name]. For example, if you were going to search for transcripts for the company Netflix, you would type rst=fndw and hd=Netflix. Factiva does not have audio broadcasts of earnings calls.
Factset, available for use in Lippincott Library, also has earnings call transcripts and some audio broadcasts. Search for your company of choice in the top left-hand corner, and then click on “Company Guide”.
Select “Event Calendar” from the menu on the left-hand side of the screen. You will be able to see a list of both upcoming and past events, including audio where available.