| item_id,split,call_id,exchange_index,reference_audio,reference_text,reference_duration_s,reference_audio_sha256,question_text,answer_audio,answer_text,answer_duration_s,answer_audio_sha256,language,domain,reference_role,answer_role,same_speaker_within_item,authentic_audio,human_quality_gates_passed,source_dataset,source_dataset_license,selection_tranche,boundary_repaired,source_item_id |
| ECV-0001,core,1636151,15,audio/ECV-0001_reference.wav,,14.36,ab5a93fae861f913ababc229dc0c578f22ffd2988c7a72acbbecdac867e8ffd2,,audio/ECV-0001_answer.wav,,12.77,194b0bf1c9ac28e4903e58062829d74c61b633c6353c2db26bfb35e72cc8fbfa,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-017 |
| ECV-0002,core,1641285,9,audio/ECV-0002_reference.wav,,14.33,6aa58ee62fac93390aa38d806cfdba284d25cccc11e282ae96b3dbf045e6a8fc,,audio/ECV-0002_answer.wav,,17.35,7c4619ac4b8f366f9c684f7b4bfe904b8ad372e289cdd63100d18dd4662edb6b,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-021 |
| ECV-0003,core,1641855,23,audio/ECV-0003_reference.wav,,13.27,ff68e0a12ddc1586247d48441d735c0e99dc1fd27cccee2cc37dfd51de2710b2,,audio/ECV-0003_answer.wav,,14.89,424373e33f4574e3f7b42c82e9f8aba4382f40cb9c362694c40b7c4f4cba60e6,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-023 |
| ECV-0004,core,1642318,20,audio/ECV-0004_reference.wav,,10.33,0b19fdb1cf00f498fd877cd7906ebb08eef41a57253579df97e155094e05c9a4,,audio/ECV-0004_answer.wav,,25.77,353ae0583b6fb3de2866227a8f86a828b5fc8174276b51350e3257edea5505ec,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-018 |
| ECV-0005,core,1643306,1,audio/ECV-0005_reference.wav,We generated $16 million of current period revenues on those bookings for a yield of 15%. And the weighted average term for our bookings was 31 months this quarter.,11.23,8a952173937e9f26200b1efff83f02f1f0b55826b68468f7de73158ae78e235a,,audio/ECV-0005_answer.wav,,18.03,c6b7fcb9c2f8394602bf0719cf59fb9a6b19195f7f361711e747e0cdb2e08ea9,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T04-R02-SRC-005 |
| ECV-0006,core,1656562,21,audio/ECV-0006_reference.wav,,10.29,a727eab5ad43dd69a2c42030a1792cf02fc9045e689ef5e667b7d508852641c4,,audio/ECV-0006_answer.wav,,21.43,e5e1d1a0d33cf79550f092c7895aa453efcc89358c11444ac1b24771e8385f1d,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-024 |
| ECV-0007,core,1656986,6,audio/ECV-0007_reference.wav,,15.0,b13f4cf0c5eab39f8ed81ed3bb0af3bc42ceae37c25ff302c690d48c82767e0a,,audio/ECV-0007_answer.wav,,26.62,f3e223b49f1ff7f923f4c0b75156aabc2d8c0cae2b3fcbeb2ee91bf682b67954,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-040 |
| ECV-0008,core,1670663,2,audio/ECV-0008_reference.wav,,10.29,e347588e3400c9fb6276bd53d3ad5f50f216c0f8f23a726c3bacf8819cd5a9ad,,audio/ECV-0008_answer.wav,,19.81,1dc7a9956a67b8510e18472b3bc73e13ec1d320c52e1ae65be3fa3b46e56886b,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v03,False,SS3-013 |
| ECV-0009,core,1672623,4,audio/ECV-0009_reference.wav,,10.0,7a2f009074e1428296d9a6b197f4836a0b23fbeacac8e9ed47a244931f0ba52a,,audio/ECV-0009_answer.wav,,9.179937,b3b17fcbb689b38715568e2b22c68e69d0dbd2ee8769bd6627ae9682ba4678a0,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-015 |
| ECV-0010,core,1695833,13,audio/ECV-0010_reference.wav,,12.0,5d0a4527741cbe47295320d3dad34452621092936faf4df44a3c7e7d90fcf318,Could you see that normalized level in 2020?,audio/ECV-0010_answer.wav,,24.0,50883021297e60b34bc3ec3839406050b31875d12e6555f80c5e7e75902bd456,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-005 |
| ECV-0011,core,1703447,18,audio/ECV-0011_reference.wav,,12.0,b31817c7b065561e070985ee5b7f30de6e33a230ce5da543c0b4c4c6c46bb748,,audio/ECV-0011_answer.wav,,30.48,d9c56a2ee9d243ad8b1f53ac128aced22221c819e5dd28f0f974ca08b1a4f986,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-018 |
| ECV-0012,core,1705203,7,audio/ECV-0012_reference.wav,,10.29,4b856c163942d68dae62ab2874e8996220caff8878df00dbe9c9a64d9f5965a2,,audio/ECV-0012_answer.wav,,24.85,ef79d3b3f45ca2e55455ce2c00c6c260fbafafdf896bbf44d2faa90e15980682,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-011 |
| ECV-0013,core,1705222,28,audio/ECV-0013_reference.wav,,12.37,846ccc9554c259cfb700234a974f4d3846e4a12b71ed3e2b164c5d8afcda319b,,audio/ECV-0013_answer.wav,,9.55,f2f696cf5ae13871f1dbec88a329280ef6eaf8aff5859b90ec3926fd48943933,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-015 |
| ECV-0014,core,1705260,5,audio/ECV-0014_reference.wav,,13.35,6695f55468aa469a0748fbf5455d7404426a252d3c41283c2fe981784c622ea3,,audio/ECV-0014_answer.wav,,17.89,14c45ca926782ccb77a70a77e37f043d0a41becb5b135f50e6bc81f36880a5e3,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v03,False,SS3-011 |
| ECV-0015,core,1706273,21,audio/ECV-0015_reference.wav,,11.31,68d56fd965f88d3373cf74a4fcaa54d540f6f477b9512075b3c1c56a171e4aef,,audio/ECV-0015_answer.wav,,8.23,2bb0746343e0cfb04d1e42c7d18a9c56be55df6c43a24ec894f68c25a19d90ee,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-012 |
| ECV-0016,core,1714901,23,audio/ECV-0016_reference.wav,,14.19,9c292fb90761fe9123f43bd4eddda3226f2bec415c45e6f08793c55db69f99a4,,audio/ECV-0016_answer.wav,,20.67,c2e535de7a9ae9749fd031aec85906892e3e4fdbec816ccc54fc4f802cdea41d,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-002 |
| ECV-0017,core,1715359,3,audio/ECV-0017_reference.wav,Partly offsetting the positive earnings drivers were higher depreciation and amortization expenses due to plan additions and lower pension and other post-retirement non-service credits due to lower market returns.,12.37,af5875adcd3020c893ef0b2bee7537039e69b4c04c4f6e8ef6a5b079ab276857,,audio/ECV-0017_answer.wav,,28.01,038666209a423abeb481222028ea10d42ad9470dc3eed5af7dbe170d1a5dad87,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-009 |
| ECV-0018,core,1716005,10,audio/ECV-0018_reference.wav,,12.37,7a9d96ce7cf3e24553a3ec7ba6b75a8ae4d0c4d845bc929c77d3d61b8644bc24,,audio/ECV-0018_answer.wav,,19.47,70b8dec74bde0bcbf9f0a3d14b152a449f719107c78ae648f565bdf7ddd9a48b,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-015 |
| ECV-0019,core,1716891,9,audio/ECV-0019_reference.wav,,14.0,3de5924b3d0ccbae4ea10417f1829df19457406306da8c64555c9c82f73f53f8,,audio/ECV-0019_answer.wav,,17.38,a61f0b849b243ec26a287fe7d769e523bb981367891eb8943bf84fc78c898a48,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-026 |
| ECV-0020,core,1724823,15,audio/ECV-0020_reference.wav,,15.37,23651567452fc6cfcfa8441507ca67af9cc04e6369f6eccea6d350276e751379,,audio/ECV-0020_answer.wav,,14.57,290d844d55a30923fecd7e909ba3973414cee33847b191231be2d39ea54e44cd,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-034 |
| ECV-0021,core,1754425,23,audio/ECV-0021_reference.wav,,11.15,ac9159e5c43d089aec076fb69c4b0908097d95bdf1b34100b17c6ee958ff6a67,,audio/ECV-0021_answer.wav,,26.75,53ce798eac5eab0b2bd80e0fa2335355868d888d3b3555fb24378383cb3b94b1,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-019 |
| ECV-0022,core,1776024,0,audio/ECV-0022_reference.wav,,12.34,c891c5a30b7d1a78c4327e777dec89cb611c118aca379010d3d020a158bb7954,,audio/ECV-0022_answer.wav,,29.87,9f31e58b70340bf58999fcfa8b65610a1241a12bb79fe7471e16c7314053e96d,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-010 |
| ECV-0023,core,1778827,9,audio/ECV-0023_reference.wav,,14.0,0fa1f55f08107ede8f06571cefd6937711cd79d30e392bacb92e7b2aa46efda5,,audio/ECV-0023_answer.wav,,5.06,12e193a1ae4c71cd844b4b64c087144333d464188242eb970d903e9879002edf,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-030 |
| ECV-0024,core,1783571,19,audio/ECV-0024_reference.wav,,11.31,4abd98c4218d77bbc75ce865dba87d982b09a55ae2a74c75c6b789661a497392,,audio/ECV-0024_answer.wav,,12.95,cd40d87076d3b7267e6228dc0e2c4f068464ac22cbb4247d82d12d6b24c8723c,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-007 |
| ECV-0025,core,1786138,20,audio/ECV-0025_reference.wav,I'll just remind you that total interest expense on all tranches of our debt is approximately $45 million per quarter. We continue to execute on our capital return program during the June quarter.,14.24,e759c83d8dccfa13c230ce93eb57ed4ab77844b29bbca9f088f988381eff8f6b,"Great. And my follow-up question for Doug in terms of the installed base business, that's probably providing you a lot of support this year given the pressures on the systems business. Can you give a little color if you're seeing a lot of upgrade business for I guess the trailing edge, the fabs that are trying to upgrade, improve their productivity, is that a key driver to the installed base business? And the strength that you're likely seeing this year?It's certainly a piece of it. In fact, last quarter, record level for our Reliant business, which is refurbished equipment. So the answer, Patrick, is yes.",10.61,7686bb36e78a919543e2a43d800dfcdfb8905176df88a21ea704b5bd681cc66e,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-009 |
| ECV-0026,core,1787090,3,audio/ECV-0026_reference.wav,"This reduces our leverage and enhances our financial flexibility, though the cost of the tender will largely offset the savings on interest expense this year.",11.35,0edda20351660e3084f066008f0d94defc3e6c119bfb0b86601cfa2932c3fabb,"Okay. And just to follow up on that, a quarter go, you said you expected to exit the year with the year-over-year margin growth. Is that still the case?",audio/ECV-0026_answer.wav,"Yeah, I think that would still be our expectation. I think we remain on track with our major initiatives.",7.39,9ac73fe5023903d1fe9d639013fc3ea7a0c991d71720839ee8950ae132ec1b48,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-016 |
| ECV-0027,core,1788402,6,audio/ECV-0027_reference.wav,"On slide number six, we outlined local currency sales growth by product area. In the quarter, laboratory sales grew 8%. Industrial increased 3%, with core industrial up 5%, and product inspection was down 1%.",15.35,0375f2cafa6eb5df36c5bf1eb4bb7e2d693f871e30433e5d08b130d75fe5e0ab,"Shawn, I believe if I heard you correctly, you said that you're assuming FX and tariffs to be a negative 4% headwind now. And I had to down we say negative 4.5% before. And so just trying to figure out the moving pieces between your old guidance and your new guidance and how that all settles out. And I have a one quick follow-up.Yeah, hey, Steve. It might be more of a rounding topic. You know, I'm not seeing any particular changes in terms of, like, you know, the tariffs versus what we talked about before. And if anything, the FX is modestly a little bit worse than the last time we spoke.",18.77,5af524973f9cc09ff025630ca10ec99dbd840bc2e0109d8ea89b3fc512ef6759,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-014 |
| ECV-0028,core,1796865,8,audio/ECV-0028_reference.wav,"As we look at the third quarter, we expect production to be 192,000 to 196,000 equivalents per day, of which approximately 118,000 barrels will be oil.",10.37,41aa50da75017c828c379551a0c8a1ff450ad2295612bc71a99649d7b50824bd,"A couple of months ago, you mentioned that there were plans for additional exploration on Block 5 in Mexico in 2020. Are there any further details you can provide now that we're in the second half of 2019?We're doing our work to drill two wells there, and the difference between one, two, or three wells will be determined when we go through our budget process, but we're eager to drill there. We have oil that was found there. Amplitude is oil. We have nearby amplitudes we can drill, and we have other prospects we can drill. We're excited about going down there when we get through our capital allocation process.",20.67,9aa6f2dbfca5ed3c4763fff3a962cfe01388553effb12e4c1f7ee8863adcdfd4,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-029 |
| ECV-0029,core,1796908,17,audio/ECV-0029_reference.wav,"This comes on top of strong prior year growth of 4%, which included the benefit of premium-priced Cuba sailings compared to the current year, which now includes lower-priced Bahamas cruises that will have to be filled in a very condensed sales cycle.",15.35,8c66115f3dbb67cda3614ba807d884d3c582685c640f616d8afc6e030d0135fe,"Okay. And then just on a housekeeping basis, it looks like the capacity next year is expected to be 8.8%. That was up from last quarter, it was 8.2%, but I think there was some changes with Pearl on the second quarter. Is that the only delta? Or is there anything else that has changed for capacity growth next year?",audio/ECV-0029_answer.wav,"Yeah, it's really just a function of, you know, some of the Pearl that happened this year, and then you have some shifting and optimization of dry docks in next year. So it's just fine-tuning of our deployment.",11.05,89aacbbd1d98ff94ec69c2d1c738b9544c3682857b66848be0ccae16140d9218,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-001 |
| ECV-0030,core,1825469,1,audio/ECV-0030_reference.wav,"However, the more meaningful impact was to our balance sheet, as you saw from this morning's press release. This quarter, we also updated our segment reporting.Okay. And then, I guess, is there something different to the menu that may be triggered a change in frequency to the heavy, heavy user from the past? Or is it ownership? But they notice...No, it's just the fact that we actually now have the transactional data to be able to analyze and have that insight. That's why it's so important when we do an acquisition for us to put our systems in so that we can get the data and then do our analysis.",15.63,0d41c51b58895427e50d30b4cba2d7e4c58b174c8752cff199e63bc0d12641c7,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-007 |
| ECV-0031,core,1832800,15,audio/ECV-0031_reference.wav,Now turning to the Corporate Investment Bank on page 5. CID reported net income of $2.8 billion and an ROE of 13% on revenue of $9.3 billion.,12.32,1d240ca8a407e2d17195b7d626a552a3eda7cf9e0f08005c868bdf3ca2fb93c9,"Jen, you had mentioned earlier just the point about that next year's asset growth will be led largely through deposits. But with all this mixing into your last point there about where the deposit margin pressure comes in, do you expect the constitution of deposit growth could change at all, whether it comes from the Consumer business, Wholesale or the Wealth Management complex?So, look, I think it's difficult to know. I think in the declining rate environment, as I said, I think the higher yielding alternatives are obviously less attractive for consumers. We do still see good organic growth in wholesale as well in both treasury services and security services. I think it's difficult to know. The macro environment will be a big determinant. |
| To sum up, we're controlling what we can control and delivering on the key priorities we laid out last November at our investor day. We have strong balance sheet momentum with good loan and deposit growth in key markets and specialty areas.",15.33,ad959c58a26505cdc8e96ed3275589ca6b97649362ac567d729a6ef512374b2f,"Understood. So the net $65 million of savings, one way or the other, are reflected in these numbers. Just making sure we got the right -- understood.",audio/ECV-0032_answer.wav,It's come in across the year. That's an all-in number relative to what our run rate was at the beginning of the year.,10.57,b03b5bc0ec3965c94b5b044239c8da0aa6658b07cf47c64284fb2287f56f0146,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-001 |
| ECV-0033,core,1836751,6,audio/ECV-0033_reference.wav,"Combat systems margins returned to the 15 plus neighborhood. On a year to date basis, revenue was up 538 million or 12 % against the same period of 2018.",14.0,9938b8e6473f5a537a0a09b0aebebc6867a90a41eaffca030fc0ffd1817ffece,"Got it. And then I guess, you know, some industry sources suggest that you'd been showing this plane for some time under NDA's. Were there any firm orders included in your bookings in the third quarter for the G700?",audio/ECV-0033_answer.wav,We've had some bookings on this airplane. That's about all I'm going to say on that score. This airplane is going to be very popular with that particular market segment.,11.38,875a283f54b63e5e49892b081c90e4d6b2f27fe14f7d19d1009b464ecb6e0945,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-012 |
| ECV-0034,core,1840056,12,audio/ECV-0034_reference.wav,,12.23,6fdc622a67ee2839107e3a6ecb70a4c25ba785bdfb0892bc5834bc2a58a59df3,Just on asset adequacy testing reserves or cash flow testing reserves given current interest rate levels?,audio/ECV-0034_answer.wav,,11.93,57bc8e2ce94cf44be122baaf2f51f647d049adb5069ff7feed69ba6006bb6283,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-022 |
| ECV-0035,core,1846908,13,audio/ECV-0035_reference.wav,,12.25,7a5786f90c3eea51a50803413c5e670eb784bc32163a1c400ae6fac2a2e00278,,audio/ECV-0035_answer.wav,,11.73,0b5158dd56ad1de0d90bce3776b57a389769c8c5272cd35c17e719172fe153dc,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-018 |
| ECV-0036,core,1847063,18,audio/ECV-0036_reference.wav,,11.31,b1964463bec14e89740c58162232a8f92c6cbffffd0aaf588106b0386f7125a8,,audio/ECV-0036_answer.wav,,22.55,e842ba56fbe8f40c3996a4a1458b95f857dd319b2eb26503c56c2d29634d6204,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-014 |
| ECV-0037,core,1851570,19,audio/ECV-0037_reference.wav,,15.17,1ee31641a379791b739259013c9c170cff197908d75b511e0104bc58372bae62,,audio/ECV-0037_answer.wav,,15.09,e9aecaf2e9ab163aa6c6a7df7a1759c575811b326f095293b7f82dac41ba25c1,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T04-R02-SRC-009 |
| ECV-0038,core,1854423,1,audio/ECV-0038_reference.wav,,10.0,f2ba27c5116d8c63bc1ecf4aa57f74ecffd475bf94a40bbe9f1c2251d33e5ae8,,audio/ECV-0038_answer.wav,,18.4,777ad49be9c9019d28650629f1774ad3dfbedba2eae620eafa2b76cf20d1a7c4,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-019 |
| ECV-0039,core,1869482,2,audio/ECV-0039_reference.wav,That's on or about 12-31-19. We also have a significant additional borrowing capacity under our credit line and our credit agreement.,11.35,be9f1a9f01e189666025d6c7f367a8d074cbb95d29b1e451319cf6df82d55d05,"When you think about potentially deploying some of that capital, are there areas in the portfolio that you think you need more coverage of? I mean is there any color you can give us? And if you were to do some more M&A, what area would you be covering?",audio/ECV-0039_answer.wav,"Yeah, I would say what we're looking for is the same thing we're always looking for, proprietary aerospace businesses with significant aftermarket content. We're not biased towards one part of an airplane or another part of the airplane or one product or another. If it meets that criteria and we see a clear path to our private equity-like return, we're a very interested buyer, and we really don't hem it down any more than that. |
| And over that last 25 years, there's been a market share shift from smaller independent and regional players to the larger players. Over time, should we see more share being shifted between and amongst the larger players just because there's less consolidation and fragmentation within the market?I think you're going to continue to see it come from those smaller folks. It's what's happened overall. When I got in this business, there were about 35,000 Auto Parts outlets. Today, there's about 35,000 Auto Parts outlets. Now a lot more of them are in the hands of us and our close end competitors, but there's still a whole lot out there that aren't by us. |
| Demand for our IR intelligence offering drove both in the corporate solutions subsegment, which saw a 6 % increase in the fourth quarter. I'm proud of the growing momentum in that business.",11.21,745e0f4b042bb09abf33c2d0cc1922ffd1fa6b788bc0f865501ee06300b6d3a6,"So once you get to that six, nine, 12, you know, finalized implementation level, that's, you know, your full run rate for revenue and margins at that point? |
| For the Americas region, we expect Q1 to increase sequentially with growth from North America, orthodontists, and GP dentists. For international, we expect Q volumes to be down sequentially.Got it. One quick one for John, just on gross margin. It's come down over the last kind of 3 years to the low 70s in 2019, and a lot of moving parts here, but how do we think about that metric going forward? Are we kind of getting close to the bottom on that metric? Or should we expect more kind of annual erosion of that metric?",audio/ECV-0042_answer.wav,"Well, I think, Nate, you saw that our gross margin improved 60 basis points in Q4 from Q3. And, you know, we would look into the future to expect that, you know, with the cases that we do, you know, sometimes more difficult versus even the non-comprehensive cases, we know how to drive that gross margin and we'd expect to see improvement in 2020 and beyond. |
| Slide 17. Our projects are moving along as planned in the Gulf. We currently have a platform rig drilling a three-well program at Front Runner, as well as a drill ship conducting two back-to-back subsea workovers in the first half of 2020.So why the first quarter, we're not going to see any well coming on stream?",audio/ECV-0043_answer.wav,"We are, Paul. We're starting Saturday morning. It's been a while. What I'm trying to say is it's hard in a shale play, and you'll find it rare to not put a well on in 100 days. But we're back clicking and adding wells throughout the quarter, and we have a significant cadence of wells building, as Eric described earlier in the call.",23.69,5d868d37373e77a5cfa5ee7ed337fe838913925bc4b55af489f10c1120028f9e,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v03,False,SS3-003 |
| ECV-0044,core,1896424,10,audio/ECV-0044_reference.wav,"and we're moving forward on these opportunities responsibly and with increased resources. With ICOS, we're encouraged by early interest from adult smokers and excitement from the trade.",12.34,d859ebf191cd33afa917949eaf0265af05ffbea29347d6d37d88d934abed001c,"That's a helpful clarification. And on the FTC review, obviously you've said you thought it would be resolved in the first quarter and now it's pushed out to the first half. Can you just give some color there? Is that delay any cause for concern?I don't think it is a cause for concern. You know, there's a significant amount of activity going on, and there were some scheduling delays that pushed it likely out of the first quarter. But I don't think it's driven by anything more than that. |
| As a result, we expect total O&M expense will increase approximately 1% to 2% in 2020. Next, let me provide a quick regulatory update.My first question is on the 2020 outlook for the -- weather-adjusted load growth. Thank you for the color that you gave on what impacted, especially on the electric side, the weather-adjusted load. As you look out towards this year and just having gone through just a month of this year, does that still give you confidence that you could achieve the 1% increase in load, including the leap year impact?And Sue, it's Bob. Thanks for the question and appreciate you on the call. I think our sales forecast is reasonably conservative. We did have some discrete declines in our large C&I customers in 2019 that we don't expect to continue in 20. And underlying those discrete items, we do have strong customer growth, which is slightly moderated by use per customer. But I think our forecast is as expected, and we don't expect to adjust that from.",25.91,7c8ad2c1b482aa6b3e989e174547165205a1ae55824e32a4976cd8e651a84745,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v03,False,SS3-004 |
| ECV-0046,core,1905560,5,audio/ECV-0046_reference.wav,"The net impact was positive on revenue in the quarter. Turning to the regional results, North America revenue grew 1 % on a reported and concincurrency basis while transactions declined 4%.",12.21,c598e17d0c55a2d462a6faca32d1afcc012017b621c96a6d715b683f768edbbf,Okay and then and then just kind of following up on again on the white labels you know would you say that performance has been kind of in line with expectations I mean we've got like a little hint of it back at the analyst day and it looked like since we're going quite nicely is there any any change to that or does it seem like things are kind of moving along according to plan.,audio/ECV-0046_answer.wav,Yeah I would say things are moving along very much according to plan they're doing quite well and you know we're very excited about them and we want to continue to add more and more partners to the mix.,10.47,e571cf0109c28bf5f9d1aa7a5e92f466ede978a7b5a7cca1158883f0714c27b3,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T04-R02-SRC-001 |
| ECV-0047,core,1906760,16,audio/ECV-0047_reference.wav,"For 2020, we expect global housing net operating income, excluding cats, to increase for the first time after several years of decline, driven by expansion across all of our lines of business.",13.37,a089128a79e4ae7cd9d6bfbcee89f962984f4c038753b12c3fbef0ce9661440f,"Did you actually pull -- I think I heard during your original remarks, maybe, Richard, that you had pulled forward some of the expenses in this severance charge. Could you clarify on that?",audio/ECV-0047_answer.wav,"Well, essentially what we're saying is at the end of 2019, we had severance charges. So severance charges would be the reduction in staff going into this year. That reduction in staff would decrease the expenses. We're not expecting that to fall to the bottom line. What we're expecting to do is redeploy that in the IT infrastructure, the cloud capabilities that we mentioned, et cetera. |
| The Florida Capital Plan is underscored by solar investments and grid improvements, including targeted undergrounding. Storm Protection Plan legislation supports the deployment and recovery of these grid investments, charging our increased capital.One last question. Just to confirm, how much financing have you already committed to the project at this point? I think it's around $2 billion, including AGDC at this point.",audio/ECV-0048_answer.wav,"Yeah, the gross project costs are about $2 billion on our books now. We've got about $800 or $900 million of construction financing against that. |
| Thank you, Andrea, and good morning, everyone. We have a lot of grounds to cover today, and we fully understand that there is one topic on top of everyone's mind.",10.23,87b57c6919248b45a89cc24badb067d268a7099de76baf986db6caedf95d5c7d,"Understood. And then just looking at the new terminal in Miami, is there anything that we can start to think about as far as potential tailwinds from that, anything from the dynamic with how you price cruising out of there? Anything that's not in guidance from that?Well, look, anything we can do to make our cruises out of Miami, which is our #1 port of embarkation, more attractive, I think, will certainly help attract a higher level of customers, which we're always after, because we know that those who pay the most to get on in the most once they're on. Daniel, we have time for 1 more question. |
| In Onshore Offshore, inbound orders grew almost 80 % versus 2018, driven by more than $8 billion in LNG awards.So, Doug, I just wanted to maybe follow up real quick to make sure I understand correctly how you were going through that very detailed explanation of the transition year of 2020 and the impact on the sub -C margins related to that transition of much significant backlog flowing through the system. So, would it be safe to say that maybe, you know, at a baseline of the margin that you have in backlog, that would be maybe 100 bases point higher than that minimum point of guidance that you provided? And therefore, the difference is all that incremental cost that you're occurring through the supply chain to make sure you can execute on these projects. Is that a fair way to maybe look at that?",audio/ECV-0050_answer.wav,"Certainly a creative way to put me in the corner, Kurt. I'm not going to fundamentally disagree with your statement. |
| Credit adjustments and other was a loss of $951 million, which was one of the significant items that I mentioned up front. Credit costs were $1 .4 billion driven by the net reserve bills I referred to earlier.And then can you help us think about how you do the accounting for the consumer deferrals? You keep accruing, but do you add some kind of haircut for NII and suppression in terms of what might not be collectible, even though technically you're allowed to accrue while you defer?",audio/ECV-0051_answer.wav,"Yeah, you got it, John. So we do continue to accrue, but it is a lower yield over the life of the loan.",5.54,db73d29f2677ed4f78769dc0090dca028667bb4892222ef9a95c933b5d242a86,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-006 |
| ECV-0052,core,1961699,17,audio/ECV-0052_reference.wav,The rewire is underway and we've taken actions across each of these key elements of the playbook and more are in development. I've mentioned some of the significant actions that we've already taken to allow the organization to move forward.,15.31,a16dd3a6c3d2b4be9939c911e6ebaf1ad3ebc8e041b0841f1e585f46620f7bd9,,audio/ECV-0052_answer.wav,,22.65,d6dc57cd30b768aa10db496ef934f2295dbc48f63b94951430b642257fdb2757,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-008 |
| ECV-0053,core,1964425,4,audio/ECV-0053_reference.wav,,11.33,4e490d34fd41d7620960a8dfc7ceb1511adb730220743b3b8705fd0dc91bf7a3,,audio/ECV-0053_answer.wav,,7.57,de0980326719225eeee266609ded8dfb8bdfaaba4578e81f1c78c1d5f35937dd,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T04-R02-SRC-011 |
| ECV-0054,core,1966433,11,audio/ECV-0054_reference.wav,And we instituted an unpaid leave program for any employee who doesn't feel safe coming to work. We are also supporting our communities and most impacted by coronavirus across North America and Europe.,12.0,8067b8d3b46b635a4c0dbabc9a99014e1ffa960bb32a85af242975fcd2b46e70,"So I think core self -ser was originally set to launch in July. So I guess the question is, if COVID pressure somehow ease or begin to ease, would there be a willingness to pull what is a delayed launch forward again and do it again in July? Or is it now definitely in the fall?",audio/ECV-0054_answer.wav,"Yeah, hi, Bill. Thanks. So look, based on what we're seeing in the marketplace, I think you can safely assume that it will be in the fall. In other words, I would say based on what we know right now, we will not be bringing forward the launch. We'll keep it as to where we've moved it to now. |
| And to them, I want to express my gratitude for helping keep us safe. As importantly, I want to thank the men and women of Eastman. It's been said that characters revealed through adversity, and the Eastman team has demonstrated its character and arisen to every challenge we've faced.We're not continuing to discuss that right now. That's a customer by customer basis. But, you know, there is a value to this that in a cost, you know, to this. And we're confident that our spreads will be equal to or better than our current spreads.",12.5,5bc9f191902bbc35cf41084c49c38720150cd5939a4d090c40b6b9d1a28efe08,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-023 |
| ECV-0056,core,1975427,9,audio/ECV-0056_reference.wav,Thank you for what you are doing to help all of us. We are eternally grateful. I also want to thank our 4800 Atmos Energy Everyday Heroes as they continue to provide our customers safe and reliable natural gas service.,13.33,d909572ed0a25c73ab8188357912b819bcd76f5f6758ed033e67574f01d82634,"Okay. And then I heard you talk about 2020 CapEx. Are you also reaffirming, though, the the $10 billion to $11 billion of CapEx between 2020 and 2024?",audio/ECV-0056_answer.wav,"As we said, we've been able to continue our capital work through this program designated as an essential service provider. We anticipate continuing to be able to do that and at this point don't see anything out there that would defer our capital strategy that we have in place right now.",20.15,4112e61ad16662b3483f85c23b03c2422536f009c988e4f532f4886b4479227e,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-017 |
| ECV-0057,core,1993348,1,audio/ECV-0057_reference.wav,"Now, shifting to our debt maturities, we have been able to obtain a 12-month debt amortization holiday for most of our VESL's payments, bringing our debt maturities down to $400 million for the remainder of 2020.But to add on to that, the equity convert would be your last option that you would want to do?I would say that we are very sensitive to dilution, but overall, I think that we purposely made sure we had maximum flexibility on the depth side. |
| For employees choosing to work in the office, we will ensure social distancing and all local safety regulations are followed. The health and safety of our employees is our top priority. Let's focus on industry trends.",12.0,bf425878f0e72bedbc2c8a05883065d4516d03324e5b0a9c2863b72e8d61c327,"God, excellent. And then the trends that you've seen so far in May.We have no reason to believe so far as what we've seen in May that our guidance is not achievable. Otherwise, we would not have guided. I think that's the best answer I can give you. |
| However, our market share sequentially improved in June, supported by the strength of our brands. While we see signs of improvement in the market, the situation remained challenging.Okay, great. Thanks. Could you also just clarify in Indonesia, you gave color that in your guidance thinking you don't expect enforcement of minimum prices at least until September. As far as 4Q goes, what's your base case thinking? Is your thinking reflected in guidance that there's no enforcement all year or is there built in some assumption that that does improve?",audio/ECV-0059_answer.wav,"No, what is taken in the guidance is essentially that we should have a large part of the benefit in Q4. So we're not expecting anything in Q3, but we think a large part of the benefit of having minimum retail selling price should be seen in Q4. |
| The link quarter increase reflects broad -based commercial growth, as well as growth from consumer stimulus payments and lower consumer spending. This growth was offset by a decline in time deposits primarily related to lower interest rates.Don, I was wondering if you could talk about the near-term outlook for cards and payments income? Will that -- the prepaid card activity remained high over the next couple of quarters?It will remain high for the next couple of quarters. Many of those are for support programs that the various states have put in place, and we would expect that to continue throughout this year and probably into the first part of next year as well. |
| We've evolved our protocols and have implemented mandatory phase coverings in all of our facilities to protect our employees and limit the spread of COVID-19. As I mentioned earlier, our operations and supply team team have done an excellent job ensuring business continuity.",14.33,b85b70fea96a74f8f44f204956d49a255f00e47310cf82ec5fe1063170b70dae,"Yes, sir. A couple of questions here on the application. And then broadly, our you seeing investments yet on this whole wave of the reshoring of the U.S. pharmaceutical production capacity, so two questions. One, for this application on Page 8, are you both in vaccine discovery and also vaccine production and then all the pharma reshoring, are you seeing any of that?",audio/ECV-0061_answer.wav,"Yeah, so the answer to your first question is yes and yes, or question A and question B, it's yes and yes. |
| It is possible. We wanted to share what we saw from exclusive smokers just because of the opportunity that presents. We'll consider whether we go into the other detail of the other categories in the future, but we haven't thus far. |
| Finally, EPS in the quarter was lower by 17 cents because of dilution from the increase in shares outstanding. On page three, you will find SCE's capital expenditure and rate -based forecast.",12.36,eb89e14ce53853cb84d8f4f5fe16f153b8156bce00bb90ccbd1a6318dec9ad96,"Okay, thank you. And if I could just follow up on one similar topic, I see you booked a charge related to 2017 -18, a small one in the quarter that's below the core line. And just the nine million dollars. What was that and what caused that to book this?Sure. So Jonathan, you can imagine as we move through this process, we're accumulating legal and expert costs. Because those are legal and expert costs that are associated with a non -core charge, we're booking those at non -core as well. Prior to this quarter, the number was really not significant. |
| Increased working and schooling from home due to COVID -19 resulted in a strong PC market in the quarter, although we believe our growth was largely driven by our 11th -straight quarter of market share gains.Got it. And just one small one follow -up. Just on the data center comment, 20 % of revenues is still the data center graphics piece, still a small part of the business, or was that better this quarter? They're trying to get a qualitative understanding what happened there.",audio/ECV-0064_answer.wav,"Yeah. So we did say that overall data center revenue was over 20 % of revenue this quarter, and it was predominantly CPUs. So the GPU portion of that is still relatively small.",14.059938,5c8c55d3ff876be5355d6a7b0b789f3ca6429786062a41127ff98c154ff99731,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-011 |
| ECV-0065,core,2049220,18,audio/ECV-0065_reference.wav,North America origination also showed improvement compared to a challenging year-ago period. Higher results in trading and distribution were driven by improved margins and favorable positioning.,11.36,f5bb9891c9bee66dceb6d31946491c6f9f256092d0c36df75646976124051020,"I might be just doing my model incorrectly here. But if I start at that, I think you said $2.80 base and add the $100 million to that, I'm getting, according to your math, something around $3.40 for the year. But my model is spitting out a much higher number. Maybe we're using the wrong base or maybe I'm misunderstanding the communication on sugar here. So can I start there? Are you expecting sugar to operate at a loss in the back half of the year?Notwithstanding any fluctuation in currency, I think our expectation is that there should be a small contribution from sugar in the second half to flat to zero. We don't expect underlying operational losses to continue in the second half based on what we can see. So it's all going to be dependent upon the exchange rate and how that impacts the reported numbers from the debt. |
| We see continued strength from memory, and Foundry for that matter, driven by demand and more strategic technology-oriented investments. The customer support business group is also expected to provide continued momentum for the company.I know you guys said you had -- you were working your way through the supply challenges. But I wonder if you could help us kind of with what the quarterly revenue progression might have looked like? If you hadn't had those, you had said in March, you get about $300 million of revenue deferred by the supply challenges. Should we view June as kind of having caught up to that and then the surge in September is more shipping direct to demand? Or just what would that have looked like if you hadn't had the supply challenges that you had?Yeah, I didn't quantify it. I did say we got nicely caught up. I also said we're not completely caught up at the end of the June quarter, and that's as much as I think we're going to give you right now. You know, we're driving efficiencies. We're getting much better. You know, I think Tim and I are pretty happy with how the supply chain is performing. |
| The 5 .5 % yield is lower than we would typically expect from small sell anchor builds due to some higher cost that we incurred during construction, which were beyond what we had initially estimated.And just to clarify, I just seem like at least right now in the midst of all this, you still have been able to generally meet the deployment goals you set out earlier this year. Is that fair?No, that is fair. That's what we've set the targets ahead of time. And we've learned to navigate in the new environment that we're in and believe we can continue to do so. |
| So that last comment, just to be clear, it should be roughly around the 30 that we saw in 2Q, just ballpark?It shouldn't be. If you do the math and you assume margin, you know, that there's no improvement in operating margins from the 7.8% we've just posted against the 15.8%. That will be slightly higher as a percentage.",15.16,29e9cf3b960e3ba518a59a20829e6c9a84cfddf4cb43c085744ac291a8a28b8b,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-005 |
| ECV-0069,core,2060333,6,audio/ECV-0069_reference.wav,"In our electric segment, operating earnings were up nearly $4 million, driven primarily by lower employee and administrative expenses, lower generation maintenance expenses, and higher COVID-related residential demand.",15.35,10c5d8516535bd83605c1853b5796899acc48cbd3aa7aef28913e36403baf45e,"Got it. And then just from a balance sheet perspective, you're still targeting the 14% to 15% [audio gap] debt longer term. When we think about 2021, do you still -- do you expect to be at least at the 14% range just by using your annual ATM program?Yeah, long term, we're targeting that 14% to 15%. Just recently met with the rating agencies and continue to have conversations with them about our investment plan over the next four years, and we're confident in that plan. Again, we'll provide more detail on what that looks like in our analyst day.",20.13,a71e7fbe13b1d0a656ef5ab7a9cfb3736da6ef935d928cc7fb29c1a97fb4b058,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T03-SS2-024 |
| ECV-0070,core,2062500,2,audio/ECV-0070_reference.wav,"Finally, the sale of New York American Water continues to progress, and we anticipate the closing of the acquisition by Liberty Utilities in early 2021. Moving on to slide 11.",11.37,625ad805aee4a91f19cc505505073a4370e0ded9ec25b2c28c4c83ca8096fc19,"Awesome. And lastly, I mean, we keep waiting to see the interveners, filings in New York, New Jersey, rate case, I understand that they haven't been posted yet. So can you give us at least a sense, you know, what are the key contentious points and how the rate case is going?Well, the rate case is proceeding according to our anticipated schedule. We, you know, the postings have not been public, so we really can't comment on those. But just to say, there's really nothing out of the ordinary in these. |
| Returning cash to shareholders remains a high priority for 3M, including both dividends along with a disciplined approach to share repurchases, which we plan to restart in 2021.Okay. That's helpful. And then within the organic growth assumption, what are you assuming for price?",audio/ECV-0071_answer.wav,"So as I said before on the earlier question that was there, we expect prices to be positive based on all the inflation that we are seeing. And historically, when you think about what 3M has been able to do, they have been able to get price just because of the value that they add to customers. And I don't expect that to change. |
| Good morning, Kelly. Thanks, everyone, for calling in today. Before we get started reviewing our 2020 and looking forward to a segment of day-to-day, I would like to address the recent actions taken by the Biden-Harris administration.Okay. And then finally, that you already have a pretty sizable hedging program for 2021. Should we assume you're pretty offset or that you will look for opportunity to increase that further?",audio/ECV-0072_answer.wav,"In 21, no at this time. In 22, we have done some hedges, which is disclosed in our release, and working on options to review that, but not settled in on that now because I feel like we're well positioned with our cash, I feel like we're well positioned on our liquidity, and really taking a look at the additional hedging for 22 at this time. I haven't made a decision yet on that. |
| Accordingly, we will continue building momentum behind our business unit strategies, company positioning, strong brand, and industry-leading portfolio. I'll now turn the call over to the operator to begin Q&A.",15.31,d685e402d28e565cf17c44f38ca3d66d0bb5b6a2a4f7d479a4b1350ef1931d7a,"Yes. Absolutely. And just a follow-up. So many of the suppliers of your HDD and SSD controller chips are seeing tightness in wafer supply, assembly and test capacity. Are your shipments here in the March quarter potentially being somewhat held back because of lack of controller availability from some of your merchant or ASIC controller chip suppliers?",audio/ECV-0073_answer.wav,"Yeah, there's no doubt things are tight and we're not immune from that. I mean, clearly we have our financial plan covered with components, but when you do go looking for things from the semiconductor supply chain, it is tight right now. So we'll see how it plays out during the quarter. |
| as we reap the benefits of the cost reductions we put in place last year. As we discussed last quarter, some of those savings will be reinvested as we identify opportunities and hire additional individuals in key strategic areas.Right. I guess Equifax reported that mortgage inquiries should actually accelerate a little bit this quarter. And I thought you had a comment that something related to mortgage, almost like it was a lesser benefit than I just didn't know if that was just seasonal mix or what you were saying? And maybe I just misheard you.",audio/ECV-0074_answer.wav,"No, I don't – maybe I need to go consult my notes. I think that, you know, we don't really opine on kind of the future mortgage. You're better off looking to the bureaus and their forecasts than to us because we're kind of a lagging indicator on that. But what we see, at least what we're seeing right now, is strong mortgage. |
| Overall, the sales growth of 2 % to 4 % represents a solid turnaround after difficult 2020 with growth across all regions and all lines of business. Switching to operating profit on slide 12.The 2% was a full year number, Cai, so that's a full year number. So I think that's where we ended up -- ended the year. And in the growth that we saw in the quarter was all organic. There was -- I don't think there's any acquisition worth speaking about, so it was all organic. |
| RIS liability exposures excluding UK longevity reinsurance grew 14 .3 % year over year, due to strong volume growth across the product portfolio, as well as separate account investment performance.Thanks. And then I just have a follow up on non -medical health. Given your comments on favorable dental utilization in the first quarter so far, would you anticipate setting up an under premium reserve again in 2021 or is that more of a kind of one -off practice due to the volatility we saw in 2020?Yeah, we just remind you, Ryan, the reason that we were able to do that is because services were not available, you know, dentist offices were closed. We don't forecast that that will be the case in 2021, so we would not expect, you know, the need or the requirement to set up an under premium reserve for that.",19.93,781528cf9524626ef1d4cff131506c8a6c7697c4244788308066c669269d9590,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T04-R02-SRC-012 |
| ECV-0077,core,2194451,8,audio/ECV-0077_reference.wav,"And then as a result, we didn't have to just pull out our own recession playbook and and hunker down. If for ITW, this was a unique opportunity to react smartly and to stay focused on the long term.No, I think it's pretty, you know, I think the comps are a little bit easier in Europe, maybe than in North America, but we really, on a global basis, we had a good year. But so that's really all that I would point to. |
| So in terms of HANA, we have invested approximately – I'll have to get you the exact number, Jade. But in terms of the current year, we had a loss of about $40 million related to HANA. And I'll get you the balance sheet number. |
| Understood. And in the Grand Gulf work, is that sort of just general operational improvements? How would you sort of highlight the work needed there?In the equipment reliability space, for the most part, as you know, we've gone through a couple of major outages with big equipment modifications. The most recent equipment modification, the turbine control system, we've had some issues coming out of that outage with some of the equipment associated with that modification, so we're going to continue to work through those, get those knocked out, and get the plant up to the level of excellence that we desire.",25.91,6fb9b005cdd72fb18b4aabafee8861cf9dcc1016153e387e2265c29eda98dd4a,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_boundary_repair_v02,True,SBR2-009 |
| ECV-0080,core,2258824,12,audio/ECV-0080_reference.wav,I'm now on slide five. Let's discuss the performance of our four segments. Retail delivered a record organic growth of 9 .8 for the first quarter.,11.19,11ab7b133f223c71f8af9e0f81da9ca133cb9e61c14746eafd81ff99b977cfa3,"My first question going back to your M&A commentary. So I just want to make sure I'm thinking about this correctly. So if there is a cultural fit and makes financial sense, you are open to opportunities, even if they would be outside of the norm or of the core type of acquisitions that you've done in the past, namely if they -- if you see businesses that get this lodged in other regions of the world, or in some verticals that you may not necessarily have to strengthen today, those would be open opportunities for you. Is that fair?",audio/ECV-0080_answer.wav,"Yaron, the answer is yes, as long as they're in the insurance space, I'm making the assumption. I don't like to assume anything, but their insurance businesses of some sort. But yes, we would consider and we would evaluate them. And if, in fact, they were overseas, obviously, you have to think about regulatory issues and all kinds of other things. But yes, we would be open to consider that. Yes. |
| Okay. And so just 1 follow-up. So is it fair to say that what's left to be done? And granted that it's probably somewhat depends on what the hot functional testing covers. But is it fair to say at this point, you think what's left to be done on the construction side is something pretty straightforward. And so it shouldn't be prone to delays that we've seen in the past?",audio/ECV-0081_answer.wav,"Yes, I wish. I mean, Angie, you've lived with us for a number of years here. I mean there's nothing that's easy. Every day, I've described out there as a dog fight, but it certainly is less complex than what we've been doing to get to HFT. |
| Now I'd like to provide you with a brief update on our COVID -19 -related programs. To meet our commitments to our customers and their patients, a number of catalytic facilities have been operating 24 seven for more than a year.",13.0,181ebf8d64f67986ca218d3070c1d90a52de4eefd162963dcb5ff36408b29ea1,"And then maybe John, another strategic question. We've seen a CRO get into the CDMO industry recently, then Thermo acquire a CRO to add to their CDMO capabilities. I'd just be curious of your view of Catalyt, maybe moving closer to CRO work and why or why not it would make sense to operate a CRO and CDMO under one group.",audio/ECV-0082_answer.wav,"Well, I answered the question that's with Jacob. I think, first of all, I think it was a very interesting move with regards to Thermo acquiring PPV. And I would just make the comment that it really shows the overall importance of the pharmaceutical services industry for pharma and emerging pharma. |
| We should all seek to emulate his example, a consistent commitment to ethics and integrity, to excellence, and perhaps most of all to the safety of our colleagues. He cherished his friends and family most of all.Got it. And then just two very super quick ones on South Carolina. First, you know, obviously, Santee, next there and pulled their offer, you know, the Senate passed a bill that's more focused on, you know, internal restructuring. Do you, does Dominion have any stance remaining here, including maybe an MSA opportunity or is that sort of behind us?",audio/ECV-0083_answer.wav,"Yeah, our position on that is that it hasn't changed. It's the same. We've offered. We've worked cooperatively with Santee. We continue to work cooperatively with Santee. And we look forward to other opportunities to work cooperatively with Santee Cooper. So, no change there, Char. We want to do what's best for South Carolina. |
| Scores were up 31% in the quarter versus the prior year. On the B2B side, revenues were up 25%. There was continued strength in mortgage originations, which grew substantially year over year and also sequentially.This is actually Greg on for Manav. I think the divestitures you've made so far make a lot of sense when you explain them. Just wondering if there's any smaller products left out there that could be candidates for a similar treatment? Or from here, it's more about being selective in the contracts going forward?",audio/ECV-0084_answer.wav,I would say that this is pretty much the end of the reprioritization of our resources. So we don't see any significant divestitures in our immediate future.,12.51,0704f575ceb37de4ebbabc4c884eed19157a42bed6d18994652b64820183b713,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-023 |
| ECV-0085,core,2303033,12,audio/ECV-0085_reference.wav,We are already capitalizing on this trend in a number of ways. Our latest award -winning PC includes features purpose -built for hybrid work.,11.0,44f1dea9fd093717c167ba9fa31c0e62c4afd414ae1f10dbe4195e42bd07c9bd,,audio/ECV-0085_answer.wav,,17.36,ad58419bf7f015a95f56a36cfbfbeded6b3a1767b9860c2cde05b3f76b313fc9,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-016 |
| ECV-0086,core,2348044,3,audio/ECV-0086_reference.wav,We delivered around $120 million towards our 2021 -2023 target of $1 billion in growth SG &A savings before inflation and reinvestment.,14.0,4b25c1ad787a49ab76aa185c799483a419488e1c4353dcddb73c23de16674ec7,And just to confirm then on your pricing are you saying that you're not getting any increases or have you actually lowered prices?,audio/ECV-0086_answer.wav,We are impacted by the increase in in duty so we are increasing price but it's still having a negative impact and that's why there is a difference between what we are reporting in terms of price impact within Indonesia and without Indonesia so overall it's still having a bit of a negative impact.,19.78,5bebdbb4fa921dc4e1d96facf105fb8a5357b11c0e23cbf504d0cd49052697f3,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-003 |
| ECV-0087,core,2352618,7,audio/ECV-0087_reference.wav,The pipeline that developed in that quarter rolled over into the second quarter as is obvious from these results. We continued to experience a high level of interest activity and a growing pipeline.,12.0,28778aafe8c4eecc1c879d40f1ff3be7f245b6766478fac1e67161bd5c1c9a29,,audio/ECV-0087_answer.wav,,21.04,0a4d175e5415358996401f59cb02fd3520715f721afd6936c9ea49f2852961ca,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-027 |
| ECV-0088,core,2354017,5,audio/ECV-0088_reference.wav,This is a great brand and great management team operating in sectors with favorable long-term growth profiles. Turner & Townsend will advance diversification across the four dimensions of our business that we've been discussing.,15.01,87ac533d001045353051f5a0c9071a3cf0203373239f830c4923df7b751c561c,"Okay. So is it fair to say the contracts are at least as long, maybe longer than what you would typically see in your GWS business?",audio/ECV-0088_answer.wav,"Oh, yeah. Big, complex projects like that last for years and years. I'll give you another example. They're working on a $6 billion redevelopment at the Toronto Airport. Any of us that have gone to airports and seen these projects, no, they go on for a long time. So, yes, those contracts are very long term.",18.03,cd6e7b1be7f82bb5cf51c14e1c4b2f8fb36a80ff7619822b88ff170d2643888e,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-031 |
| ECV-0089,core,2354114,4,audio/ECV-0089_reference.wav,"Helix deploys a broad suite of marketing tools to continue to build ON brand equity and transition smokers. At retail, helix uses disruptive point of sale and trial and awareness generating promotions.",15.03,746ba7eafcc5a0c2c12d1c401fc7181407e9440daed09de08e566e9e7bae3c84,"Okay. That makes sense. And then just wanted to clarify something else on IQOS. I know you have this agreement, of course, with Philip Morris and you shared some of those details. I think it was actually a year ago. So I'm curious, can you share with us if you've reached 50 bps of dollar share in any of the markets where IQOS is sold, which was defined in the agreement with PM? And the reason I'm asking, because I think that was one of the areas that you needed to maintain or to get to, to maintain your exclusive distribution agreement for IQOS.Yes, Bonnie. The answer is yes. We believe we have achieved it related to the exclusivity. We've shared that data with PMI, and that's why you saw us moving to other expansion areas. |
| We said we would rely on Camden's values and culture and do things our way because like Bon Jovi, we weren't born to follow. And finally, we encouraged them to get on board the REO Speed Wagon and roll with the changes.We'd like to get Nashville up to 3% or 4% in the near term. When you start looking at economies of scale and efficiencies, we really need to have 1,500, 2,000 apartments to actually get to that efficiency level. And so we definitely are going to be aggressive in Nashville and continue to push there.",22.95,0007ff92686e33241c69d5a5ce7fd1717ded8f06fef586536bd3579854e361d6,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v03,False,SS3-007 |
| ECV-0091,core,2359798,20,audio/ECV-0091_reference.wav,We see a significant opportunity to grow the franchise further over the next few years as we provide unique and innovative experiences throughout the game. PGA Tour 2K21 continues to exceed our expectations and expand its audience.,14.37,b49984140f16c369e9622db7028d78beb574ee2fafba336ba6fce8a588f7ed99,"NBA, obviously, college basketball would be pretty sweet, I think too. Just sort of, I guess, expansion opportunities for your game portfolio or working with athletes, maybe for marketing or gain from?",audio/ECV-0091_answer.wav,"I'm not sure how to answer it, and so I'm going to be judicious and probably not going to answer it. I will note that we were in business many years ago with the NCAA, and we no longer are, and we're always looking for opportunities to grow our business and our sports business. |
| Really appreciate the comments on kind of what you're seeing in the second half and particularly the comment on July, I think you noted maybe at one point in time, the system touched 330 a day. Is that including some recovery or at least incentivize recovery? Are you seeing some recovery in the in the Rockies starting in the second half?",audio/ECV-0092_answer.wav,"Yeah, Tristan, this is Kevin. Yes, that would include some incentivized recovery, which we talked about in our in the remarks.",7.28,f6b961c605b4b758e93da0d1ae91a4b39625c965ce675d434e2860babed3a5c5,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T01-SRC-007 |
| ECV-0093,core,2364576,21,audio/ECV-0093_reference.wav,"In the second quarter, we delivered core organic sales growth above 35 percent, along with record gross profit, adjusted EBITDA and margin.",10.33,08524b97b9fe10cee50f1ca830c85167892f1bff5736a82790ed24e35167b765,"Let me add my congratulations. Coming back to the value-added side of the piece, obviously, really strong results. So I'm just curious, are there any particular regions or areas of the country where you are seeing more growth? Or is it more broad-based?Yes. The exciting part about it is we've seen that expansion and growth broadly across all geographies. So there's not one that I would point to that would be outpaced strong. Obviously, the strength that we have in the South and in Texas kind of leads the way. But as we've gained adoption and accelerated penetration, it's really broad-based. |
| Following our prepared remarks, Terry and I will take any questions you have. I'll begin on slide three. In the third quarter, we reported earnings per share of $1.30 and generated total revenue of $5.9 billion.",12.27,99453babfdf27d1c08b846e81ded25244eb093ea408c89b00a25e6c0bfdbbedc,"Okay. So what is -- I guess how do you think about the profit margins on these relationships? I mean it seems like we provide more one-stop shopping. It should be better service for the customer, and you should be making more on that, so not just the revenues. I mean what would you expect the earnings to increase by? I assume more than the 25% to 30%.",audio/ECV-0094_answer.wav,"Yes, they will. I was quoting a revenue number. I would expect the earnings to be higher than that because the marginal cost of many of these products and services is not as high because they go on the platforms we already have established.",13.49,55933619d615c9ce7bd61c53d129d25df5a7f18fbf9379d4b4c269c029923355,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_core_73,False,T02-SSQ-002 |
| ECV-0095,core,2408111,5,audio/ECV-0095_reference.wav,"Compensation expense totaled $496 million and was up 7 % compared to the prior year and was up 2 % sequentially. The year -over -year growth was primarily driven by higher cash -based incentive accruals, as well as higher salaries.",15.27,d70c454f02781e5198bd3250b7dc7ef98d2b594bfc474ceff5f1583e248cec7d,"Okay. And Jason, you recently flagged some upward expense pressure at an industry conference, which has been a big focus for investors. So understand that, and it's probably too early to get much of a sense for magnitude on that front. But if it is possible to try to frame the magnitude, that would be helpful, number one. And number two, even with that upward pressure, is the commitment and the focus still on generating fee revenue, operating leverage or organic operating leverage ex the fee waivers?I don't want to ramble. Would it be helpful for me to just give a little bit of an overview expenses in general? Or do you want me to just stay specifically on the -- on kind of what happened with technology, equipment and services outside services?",14.38,ef7dd219b1bcf5ee028364d13496399a797aac03da2d15ac29946c9d1e0ef58d,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-021 |
| ECV-0096,core,2408947,14,audio/ECV-0096_reference.wav,"Guidance ranges are listed at the bottom of the slide. Importantly, using midpoints of this outlook would imply our PPNR is at or above our full-year 2021 outlook provided last quarter.",12.27,c83b941c4706909cb4c20b322472510b784c3455fcb03f552212e0e099804b87,"Understood. And if I could just ask a last clarifying one, Don, can you just give us what the total PPP income was this quarter versus last?",audio/ECV-0096_answer.wav,"The total, which would include the interest on the individual loans, was $56 million, including the $45 million in fees. Last quarter, that was $69 million, including $50 million of fees. And so that's just the relative change from quarter to quarter. |
| Operating profit was impacted by lower volume, increased commodity costs, and higher marketing expense to support the new Bear Dynasty product launch, partially offset by higher net selling prices.Just looking at Decorative on the implied 4Q guidance, it's somewhat similar revenue growth compared to 3Q. Do you expect a similar pro out performance to continue through the end of the year?",audio/ECV-0097_answer.wav,"Yeah, I think, again, we would expect PRO to remain strong as we go through the balance of the year. Whether it's going to be the same 45-plus percent growth we realized in Q3 is yet to be determined. But based on what we're hearing from PRO contractors, based on the projects that we're hearing in terms of contracts or backlogs, we do think the PRO demand will continue to be quite good. |
| On a year over year basis, growth was uneven, the market as APAC the first region to emerge from the deaths of the COVID lockdown in 2020. Additionally, we saw COVID resurgence as a lockdown sporadically impact various APAC countries in Q3.Okay. That's fair. I guess, Joe, maybe a follow-up. I mean you've continued to have confidence in that 20% to 30% long-term range. Maybe we'll hear more on Friday at the Analyst Day. But do you have an initial view on growth for next year? And do you feel like once this period of more pronounced seasonality is behind you, we get back to like a more normalized kind of trajectory for the business as we head into next year?",audio/ECV-0098_answer.wav,"Well, I mean, Nathan, is -- yes, we're growing at a pretty good pace right now, right? So it's actually above our long-term growth model, which is 20% to 30%. And as we move into 2022, we'll retain that 20%, 20% revenue growth target, and we're happy to discuss it more in detail on Friday.",18.83,68b5eb0b0bb57a38f3d2b9cf9f25700511e37ff61aa5945b0729ed3fd2774f64,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-013 |
| ECV-0099,core,2425021,9,audio/ECV-0099_reference.wav,"Adjusted earnings, excluding notable items, were $2 .2 billion, up to 24%, and up to 23 % on a constant currency basis, primarily driven by strong returns in our private equity portfolio.",14.15,4b047b2fdb2ca0787713b8969825704e0a8a927bc9c8182b65dbec2fac84bade,"Okay, thanks. And then just one quick one, long -term care claims, you said return to more normal levels this quarter. Was that on both claim frequency and severity? And the reason I ask is there's clearly from what we've heard from others been a shift away from facility care at the home. Oh, we're a severity. I'm just curious if you have that level of detail for how that's trending right now.Yeah, sure. Good question, Tom, because you're right. It had shifted. I mean, quite honestly, every metric has shifted back to pre -pandemic levels. I mean, maybe we're off slightly on the relationship of in -home versus, you know, kind of external care, but it's very close. It's very close to being pre -pandemic. |
| Recent commentary from Airbus and Boeing reiterated anticipated rate ramps for their narrow body platforms in the near future. Hopefully, this will play out as forecasted.Great. And then just as a quick follow-up in the defense end market. I think last year, you guys ended up toward the higher end of the initial range that you gave. Is there anything to be aware of for this year that might determine, either on the plus side or the minus side, where things end up in defense?No. I think the guidance that we provided is reasonable. As you guys might know and remember, the defense markets in general have been very strong over the past 2 to 3 years. They can be lumpy in nature in terms of the bookings. So I think the guidance that we're providing is within a reasonable range.",21.29,2834c18e5b2b61ae55362f09425afa8a7da9de07c48a478fca2466b4646d1f81,en,earnings_call,executive_prepared_remarks,executive_qa,True,True,9,FinCall-Surprise,Apache-2.0,human_scale_v04,False,SS4-025 |
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