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After the books closed

After the books closed: the quarter's biggest news happened too late to be in the numbers

Calls Tested
497
Answered YES
13
Hit Rate
2.6%
rare by design

ProPetro Holding Corp. (PUMP) — this company's answers

NO on the Q4 2023 call 2024-02-21 C+
The model's full reasoning — Q4 2023 call → NO我们根据提供的财报电话会议记录来判断。管理层是否报告了最重要的积极发展发生在报告期结束或之后不久,以至于所呈现的结果几乎没有包含这些发展的影响,并且管理层自己标记了时间。 分析: - 管理层提到第四季度受到季节性、假期和预算耗尽的影响,利用率低于预期。 - 但进入2024年第一季度,活动回升,目前有14个活跃车队。 - 关于FORCE电动舰队:第二支FORCE舰队于11月初部署,第一支自8月以来运营,两者都在合同下,表现良好。第三和第四支FORCE舰队预计在未来几个月内进入现场。 - 关于收购:第四季度收购了Par Five Energy Services,增加了固井业务规模,并已产生协同效应。 - 关于股票回购:在2023年回购了约580万股,之后至2024年2月16日又回购了80万股,总计约660万股,占流通股的6%。 关键点:管理层是否强调这些积极发展发生在报告期结束或之后?他们提到第二支FORCE舰队在11月初部署(第四季度内),但第三和第四支是“未来几个月”即将部署,不是已经发生。Par Five收购在第四季度完成,但协同效应“已经实现”。股票回购在2023年进行,但后续回购是在2024年。 然而,问题要求的是“最重要的积极发展”是否发生在报告期结束或之后,且结果几乎没有包含其影响。管理层提到第四季度利用率低于预期,但进入第一季度活动回升,目前有14个活跃车队。这暗示了第一季度初的积极发展,但这是报告期后的。管理层是否将其视为“真正的故事”?他们提到“我们相信季节性影响对我们的长期前景没有影响”,并且“我们正在从我们离开的地方继续”。但并没有明确说报告结果几乎没有包含这些发展的影响。 更具体地,管理层提到“我们预计2024年资本支出在2亿至2.5亿美元之间”,并提到可能部署第五支FORCE舰队,但这是未来计划。 关于FORCE舰队,第一支和第二支在第四季度运营,但第三和第四支是未来。所以,最重要的积极发展可能是FORCE舰队的成功,但它们在第四季度已经运营,所以结果包含了它们的影响。 另外,Par Five收购在第四季度完成,但协同效应“已经实现”,所以结果可能包含了一些。 管理层没有明确说“这些发展发生在报告期结束或之后,所以结果几乎没有包含它们”。他们只是提到第一季度活动回升,但这是正常的季节性恢复。 因此,我认为答案是否定的。管理层没有强调晚发生的积极事件,而是将第四季度的疲软归因于季节性,并指出第一季度已经恢复。没有具体提到“在最后几周”或“自季度结束以来”发生的重大事件。 所以,回答NO。

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Show the exact prompt the model was given
Using ONLY the supplied earnings call transcript and no outside information: On this call, does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented contain little or none of their effect — with management itself marking the timing? Answer YES when management's own words convey, in whatever form fits the business, ONE coherent situation with BOTH halves present: (1) LATE-BREAKING, CONCRETE POSITIVE EVENTS. Management points to specific favorable developments that actually occurred near the end of the reported period or in the weeks since it closed — real events, not hopes or pipeline. The events may take whatever form fits the industry: a contract, order, customer, or program signed or won late in the period or after quarter-end; a facility, location, product, or service that opened, launched, or shipped its first volumes in the final stretch or just afterward; an approval, certification, or qualification obtained late that has already begun converting into business; a large customer that went live, began ordering, or expanded right at the close or since; an acquisition or capability completed at or after period-end that is now operating. What matters is that management itself anchors the timing — saying in substance 'late in the quarter,' 'in the final weeks,' 'at the very end of the period,' 'since quarter-end,' 'subsequent to the close,' 'just after the period ended,' or equivalent — for events that are described as done or now happening, not merely expected. (2) MANAGEMENT TREATS THEM AS THE REAL STORY THE NUMBERS MISSED. Management conveys, directly or plainly in substance, that because of this timing the reported results reflect little or none of these developments — and treats them as consequential to where the company is now heading, for example by discussing how they will contribute in coming periods, how the company is now delivering or ramping them, or by contrasting the period's reported figures with the level of business the company is already doing as it exits. The late events should be presented as meaningful relative to the company's current size — capable of changing its trajectory — rather than as routine items in a long list. Answer NO if the period's positive developments are described as spread across the quarter in the ordinary way, with no emphasis on late or post-period timing. NO if the late-dated items are only letters of intent, negotiations, pipeline, expected signings, or events still contingent on approvals, financing, or decisions not yet made. NO if the late events are routine in scale for this company — the normal cadence of wins or openings it always reports — with no sense that they change its level of business. NO if management mentions timing only as an excuse for weak results without concrete late-arriving positives now in hand. NO if the post-period mention is a boilerplate subsequent-events disclosure that management does not connect to the company's trajectory. NO if the timing framing appears only in an analyst's question or model that management does not itself affirm. Use only the supplied transcript. Answer only YES or NO.

Companies that answered YES

TickerCompanyCallDateCall grade
ASM Avino Silver & Gold Mines Ltd. Q4 2023 2024-03-21 C+
KOPN Kopin Corporation Q4 2023 2024-03-14 C+
SCPH scPharmaceuticals Inc. Q3 2023 2023-11-08 B
NBTX Nanobiotix S.A. Q2 2023 2023-09-27 D
SWBI Smith & Wesson Brands, Inc. Q1 2023 2022-09-08 C+
YMM Full Truck Alliance Co. Ltd. Q2 2022 2022-08-25 C+
VNRX VolitionRx Limited Q1 2022 2022-05-12 F
OPK OPKO Health, Inc. Q1 2022 2022-05-09 D
BFIN BankFinancial Corporation Q1 2022 2022-05-06 A
RNW ReNew Energy Global Plc Q2 2022 2021-11-18 C
BFI BurgerFi International, Inc. Q3 2021 2021-11-12 C
LIND Lindblad Expeditions Holdings, Inc. Q2 2017 2017-08-06 C
PLAB Photronics, Inc. Q2 2017 2017-05-17 C+

How the model reasoned

OPK · Q1 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management treating the ModeX acquisition (announced and closed on the call date, May 9) and the Sema4/GeneDx deal (closed April 29) as major positive developments that occurred after the Q1 period ended. These are framed as key steps toward unlocking value and are highlighted as the "exciting announcement" that changed the call format.
RNW · Q2 2022 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...YES The transcript shows management explicitly marking the timing of key positive developments: 400 MW commissioned "since the end of the quarter" (bringing operating capacity to 7 GW today, with another 400 MW scheduled "over the next couple of weeks"), plus the completed Telangana acquisition adding 260 MW.
ASM · Q4 2023 → YESThe question is: Does management report that the MOST IMPORTANT POSITIVE DEVELOPMENTS of the period happened SO LATE IN THE REPORTED PERIOD, OR SHORTLY AFTER IT ENDED, that the results being presented...

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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.