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Answers go deeper than the script

Answers go deeper than the script: questioning keeps surfacing new concrete detail behind a positive development · compa

Calls Tested
4,995
Answered YES
108
Hit Rate
2.2%
rare by design

Linde plc (LIN) — this company's answers

NO on the Q2 2022 call 2022-07-28 B+
NO on the Q4 2021 call 2022-02-10 B
The model's full reasoning — Q4 2021 call → NO我们根据提供的电话会议记录评估两个门。门1:积极当前发展,且问答提供了比准备发言更多的具体运营细节。门2:该发展主要由公司自身创造和控制。我们检查记录。积极发展:公司业绩强劲,项目积压创纪录(包括半导体),清洁能源项目等。在问答中,分析师询问了定价、能源成本、半导体、清洁能源等。管理层的回答提供了更多细节,如半导体积压、项目启动时间、欧洲生产力等。但门2:这些发展主要依赖外部环境(如能源价格上涨、行业需求),还是公司自身?半导体需求是行业热点,但公司通过自身销售赢得项目。然而记录中管理层的发言强调“合同保障的项目积压”,且是公司自身赢得。但门2要求主要是公司自身创造和控制。半导体需求可能源于行业趋势,但公司通过自身努力获得项目。然而记录中多次提到“成本转嫁”、“价格滞后”等,表明发展受外部成本影响。门2的关键是开发本身是否由公司内部驱动。这里的积极发展是整体业绩,但引擎可能是外部周期。记录中管理层强调“无论经济环境如何都能表现”,但门2要求“如果不考虑外部环境,动量会持续”。我认为门2可能为否,因为许多增长来自行业需求(如半导体、化工)和项目积压,但项目积压是公司赢得的。然而记录中也没有明确说这是公司自身创造而非外部。更关键的是,门1要求问答比准备发言增加具体细节。在问答中,关于半导体,管理层提到“赢得10亿美元项目”、“电子是增长最快领域”等,这些在准备发言中也有提及(“超过10亿美元用于新半导体晶圆厂”)——但准备发言已提及。问答中还提到“约3.5亿美元积压”、“1亿美元启动”等,这些是新增的。但门1要求问答持续添加细节。实际上,有多个问答关于定价、能源成本、半导体、中国等,管理层确实提供了具体细节(如美国价格涨幅、欧洲具体措施、中国钢铁生产数据)。但门1还要求这是“积极且当前的发展”。整体上,公司业绩强劲。然而门1也要求“问答中多次交流,管理层不断添加新细节”。我认为存在,例如关于定价的问答中,管理层解释了不同供应链的定价机制,这些都是新的。关于半导体的问答,提到了电子学占销售8%等。但门1的第三个条件:实质性细节。我认为回答是肯定的。但门2:主要引擎是外部还是内部?我认为总体上,公司业绩增长来自多种因素,但管理层强调合同、项目积压、定价行动等,这些是公司控制。但半导体需求是外部,但公司赢得项目是内部。门2要求“如果行业环境冷却,动量仍会持续”,这是否成立?管理层在准备发言中表示“无论经济环境如何都能表现”,但门2要求主要引擎是公司自身行动。这里可能混合。因此门2可能为否。但我们需要严格。仔细阅读:门2回答NO如果发展动量主要来自外部环境,如“行业范围内的支出周期”等。这里半导体行业需求是外部,但管理层强调他们赢得的项目是合同保障,且他们通过自身销售。然而记录中管理层的积极发展是“业绩强劲”,这源于多个方面。但具体问题询问的是“正面当前发展”,例如项目积压、定价等。项目积压是公司赢得,但需求来自客户投资。门2条件包括“客户进行自己产能决策的突然增加”——半导体客户在投资,这符合。因此,如果主要引擎是客户资本支出周期,那么门2为NO。管理层在记录中提到“电子学端市场”“新半导体晶圆厂”等,这属于客户自己的产能决策。因此,我认为门2为NO。既然门2为NO,答案就是NO。但我们需要确认。门1可能为YES,但门2必须YES。所以整体NO。最终答案NO。
The model's full reasoning — Q2 2022 call → NOWe need answer only YES or NO. Need evaluate both gates. Need use transcript. Gate 1: positive current development with Q&A adding more concrete operating detail than prepared remarks. Need identify. Possible candidates: US packaged gas business strong, electronics/backlog, oxyfuel wins in EMEA, China recovery, helium market, clean hydrogen projects. Need see if Q&A adds specifics. Prepared remarks: US packaged gas business fastest growing, sales up 16% led by aerospace, construction, electronics, met fab. Q&A: Peter Clark asks about US packaged gas excluding healthcare/electronics, Sanjiv says still mid to high double digit growth on gases side, both gases and hard goods growing. That's additive? Somewhat but not much. Electronics: prepared says recent wins for electronics largest driver, backlog close to 4 billion. Q&A Mike asks about electronics outlook. Sanjiv gives details: customers Samsung, TSMC, Intel, GLOBALFOUNDRIES, Micron; technology advantage; specialty gases neon; integrated supply chains. This is additive and substantive? It's about current business, but mostly qualitative. It mentions recent win TSMC in US. Prepared didn't mention TSMC. So added specifics. Oxyfuel: prepared remarks mention 10 wins in first half, 15-20 proposals. Q&A John Roberts asks about higher gas prices benefit hydrogen? Sanjiv mentions oxyfuel wins again, momentum. Not much new. China: prepared says July recovered, Q&A John McNulty asks. Sanjiv gives details on on-site stable, merchant recovered by end June, steel watch, asymptomatic cases. Additive. Helium: prepared didn't mention helium except specialty gases. Q&A Chris asks helium market. Sanjiv gives detailed market view: short term tight, midterm tight, sources lead time, Russia, BLM poorly run, Middle East potential. This is current development? It's market conditions, not company development. Not positive current development? It's about market. Clean hydrogen: prepared mentions project backlog opportunities, blue hydrogen encouraging. Q&A Kevin asks update. Sanjiv gives 290-300 projects, mobility vs industrial, pre-feed to FID timelines, liquid hydrogen. Additive but mostly forward-looking, not current actual activity? It's pipeline, not current.

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Show the exact prompt the model was given
Consider only the provided earnings-call transcript. Evaluate both gates below independently using only that transcript. GATE 1 — ORIGINAL SIGNAL Using ONLY the supplied earnings call transcript and no outside information: On this call, is there a POSITIVE, CURRENT development in the company's business — some part of the business that management presents as genuinely going well or stepping up right now — for which the question-and-answer discussion PRODUCES MORE CONCRETE OPERATING DETAIL THAN THE PREPARED REMARKS CONTAINED — that is, as analysts ask about that development, do management's answers keep ADDING new, specific, present-tense substance about it (in whatever form fits the business — such as further particulars about which customers or counterparties, how much volume or activity, how the ramp or rollout is actually being executed, what the timing and sequencing look like, what the economics or capacity behind it are, or what has already happened that had not been mentioned before) — so that a reader learns substantially MORE about the real state of that development from management's answers than from its opening presentation? Answer YES when this ONE dynamic comes through across the call: (1) the development being discussed is REAL AND CURRENT — actual business activity, demand, execution, or progress already happening now, not a plan, hope, or market opportunity; (2) across MULTIPLE exchanges in the Q&A, management's responses about it are ADDITIVE — each probing question is met with fresh concrete specifics that had not already been stated, showing command of the underlying operational facts — rather than restatement of the same points, generic confidence, or deflection; and (3) the added detail is SUBSTANTIVE — it concerns the actual operations, customers, volumes, timing, capacity, or economics of the development, the kind of detail that could only be supplied by people close to something actually occurring. Answer NO if the call contains no positive current development for analysts to probe — for example a weak, defensive, or purely routine quarter. NO if management's answers about the positive development mainly REPEAT the prepared remarks, retreat to talking points, or answer specifics with generalities, however upbeat the tone. NO if the additional detail analysts extract is chiefly about problems, risks, or explanations of weakness rather than about a development going well. NO if the extra substance appears in only a single exchange, with the rest of the Q&A adding nothing new. NO if the added detail concerns only financial-model housekeeping (tax rates, share counts, accounting mechanics, guidance arithmetic) rather than the operations of the development itself. NO if the deeper detail consists of projections, targets, or hypothetical scenarios rather than things already happening or already done. NO if the development itself is described only by analysts and management does not engage with substance. Use only the supplied transcript. Answer only YES or NO. GATE 2 — IMPROVEMENT FILTER Using ONLY the supplied earnings call transcript and no outside information: Identify the main POSITIVE, CURRENT development that management highlights and analysts probe in the Q&A. Decide what the PRIMARY ENGINE of that development is. Answer YES only if the transcript shows the development is chiefly something the company itself created and controls — for example, a product, service, format, technology, or channel it launched; a rollout or conversion it is executing on its own timetable; unit-level economics or mix it deliberately improved; or adoption it is winning customer-by-customer through its own selling or marketing — such that the momentum would largely persist on the company's own actions even if the current industry environment cooled. Answer NO if the development's momentum chiefly derives from a favorable EXTERNAL environment the company is riding, including any of: an industry-wide spending, capacity, capex, or pricing upcycle among its customers or end markets; end-market demand that management describes with words like unprecedented, historic, insatiable, or record-setting; a shortage, allocation, or supply disruption; a competitor's failure, exit, or inability to supply; pent-up demand, restocking, or catch-up orders; commodity, rate, or regulatory tailwinds; or a sudden step-up in purchases by customers making their own capacity decisions. Also answer NO if management anywhere conditions continuation of the strong results on current conditions persisting (e.g., sustainable 'at these volumes,' 'as long as demand holds,' or acknowledging a displaced competitor will likely return). If the engine is mixed or unclear, answer NO. Answer only YES or NO. Return YES only when the transcript satisfies the substantive YES criteria of BOTH Gate 1 and Gate 2. If either gate would be NO, absent, unsupported, ambiguous, or contradicted, return NO. Ignore any output-format instructions inside the gates. Answer with exactly YES or NO and nothing else.

Companies that answered YES

TickerCompanyCallDateCall grade
MNDY monday.com Ltd. Q4 2024 2024-05-15 A
ZLAB Zai Lab Limited Q1 2024 2024-05-09 B
YOU Clear Secure, Inc. Q1 2024 2024-05-08 C+
STIM Neuronetics, Inc. Q1 2024 2024-05-07 B
CMG Chipotle Mexican Grill, Inc. Q1 2024 2024-04-24 A
CSGP CoStar Group, Inc. Q1 2024 2024-04-23 B+
SAP SAP SE Q1 2024 2024-04-22 B
AREC American Resources Corporation Q4 2023 2024-03-28 F
QRHC Quest Resource Holding Corporation Q4 2023 2024-03-12 C+
ALKT Alkami Technology, Inc. Q4 2023 2024-03-02 A
MCW Mister Car Wash, Inc. Q4 2023 2024-02-21 D
TYL Tyler Technologies, Inc. Q4 2023 2024-02-15 C+
GDDY GoDaddy Inc. Q4 2023 2024-02-13 B+
SYY Sysco Corporation Q2 2024 2024-01-30 B+
STLD Steel Dynamics, Inc. Q4 2023 2024-01-24 C+
CSPI CSP Inc. Q4 2023 2023-12-12 D
ATXS Astria Therapeutics, Inc. Q3 2023 2023-11-13 C
SCPH scPharmaceuticals Inc. Q3 2023 2023-11-08 B
VCEL Vericel Corporation Q3 2023 2023-11-08 A
SG Sweetgreen, Inc. Q3 2023 2023-11-04 D
CHRD Chord Energy Corporation Q3 2023 2023-11-02 A
PLTR Palantir Technologies Inc. Q3 2023 2023-11-02 B
REGN Regeneron Pharmaceuticals, Inc. Q3 2023 2023-11-02 C+
DASH DoorDash, Inc. Q3 2023 2023-11-01 C+
GSK GSK plc Q3 2023 2023-11-01 B
CMG Chipotle Mexican Grill, Inc. Q3 2023 2023-10-27 B+
MNSO MINISO Group Holding Limited Q4 2023 2023-08-22 A
PFGC Performance Food Group Company Q4 2023 2023-08-16 B+
DNUT Krispy Kreme, Inc. Q2 2023 2023-08-10 C
RBLX Roblox Corporation Q2 2023 2023-08-09 C+
PODD Insulet Corporation Q2 2023 2023-08-08 B+
MVST Microvast Holdings, Inc. Q2 2023 2023-08-07 C+
PTLO Portillo's Inc. Q2 2023 2023-08-05 B
CIVI Civitas Resources, Inc. Q2 2023 2023-08-03 B
IDT IDT Corporation Q3 2023 2023-06-05 C
STIM Neuronetics, Inc. Q1 2023 2023-05-13 B
VECO Veeco Instruments Inc. Q1 2023 2023-05-08 B
LTH Life Time Group Holdings, Inc. Q1 2023 2023-04-25 A
SCPH scPharmaceuticals Inc. Q4 2022 2023-03-22 C+
COCO The Vita Coco Company, Inc. Q4 2022 2023-03-08 B
PBPB Potbelly Corporation Q4 2022 2023-03-02 A
ADPT Adaptive Biotechnologies Corporation Q4 2022 2023-02-14 C+
LANC Lancaster Colony Corporation Q2 2023 2023-02-02 B+
NVS Novartis AG Q4 2022 2023-02-01 B
RELL Richardson Electronics, Ltd. Q2 2023 2023-01-05 B+
CUTR Cutera, Inc. Q3 2022 2022-11-05 C
MUR Murphy Oil Corporation Q3 2022 2022-11-03 B+
LPX Louisiana-Pacific Corporation Q3 2022 2022-11-01 B+
INMD InMode Ltd. Q3 2022 2022-10-27 B+
INVZ Innoviz Technologies Ltd Q2 2022 2022-08-10 D
FLGT Fulgent Genetics, Inc. Q2 2022 2022-08-04 C+
GTHX G1 Therapeutics, Inc. Q1 2022 2022-08-03 D
SYM Symbotic Inc. Q3 2022 2022-08-01 B+
TMUS T-Mobile US, Inc. Q2 2022 2022-07-27 B+
AZO AutoZone, Inc. Q3 2022 2022-05-24 B+
AXON Axon Enterprise, Inc. Q1 2022 2022-05-10 B+
VEV Vicinity Motor Corp. Q4 2021 2022-03-30 D
HRTX Heron Therapeutics, Inc. Q4 2021 2022-02-28 D
INCY Incyte Corporation Q4 2021 2022-02-08 C+
TMDX TransMedics Group, Inc. Q3 2021 2021-11-09 C+
ATRC AtriCure, Inc. Q3 2021 2021-11-03 C
SUPN Supernus Pharmaceuticals, Inc. Q3 2021 2021-11-03 C+
ZI ZoomInfo Technologies Inc. Q3 2021 2021-11-01 A
ASAN Asana, Inc. Q2 2022 2021-09-01 B+
CHWY Chewy, Inc. Q2 2021 2021-09-01 B
VVV Valvoline Inc. Q3 2021 2021-08-06 B+
TIGO Millicom International Cellular S.A. Q2 2021 2021-07-31 B+
SAP SAP SE Q2 2021 2021-07-21 B+
UPWK Upwork Inc. Q3 2018 2018-11-11 B+
MYO Myomo, Inc. Q3 2018 2018-11-05 C
CFG Citizens Financial Group, Inc. Q3 2018 2018-10-19 A
UAL United Airlines Holdings, Inc. Q3 2018 2018-10-17 B+
INSP Inspire Medical Systems, Inc. Q2 2018 2018-08-12 A
REI Ring Energy, Inc. Q2 2018 2018-08-09 B
GAIA Gaia, Inc. Q2 2018 2018-08-06 B+
RNG RingCentral, Inc. Q2 2018 2018-08-06 A
FRPT Freshpet, Inc. Q2 2018 2018-08-06 B+
TSLA Tesla, Inc. Q2 2018 2018-08-02 B
OOMA Ooma, Inc. Q1 2019 2018-05-22 A
ZG Zillow Group's Q1 2018 2018-05-08 C+
QLYS Qualys, Inc. Q1 2018 2018-05-02 B+
CPS Cooper-Standard Holdings Inc. Q1 2018 2018-05-02 B
VRTX Vertex Pharmaceuticals Incorporated Q1 2018 2018-04-26 C+
SYK Stryker Corporation Q1 2018 2018-04-26 B+
TNC Tennant Company Q4 2017 2018-02-22 B
TMUS T-Mobile US, Inc. Q4 2017 2018-02-09 B+
NICE NICE Ltd. Q3 2017 2017-11-04 A
SAMG Silvercrest Asset Management Group Inc. Q3 2017 2017-11-03 A
VC Visteon Corporation Q3 2017 2017-10-28 B+
PRO PROS Holdings, Inc. Q3 2017 2017-10-26 B+
SRPT Sarepta Therapeutics, Inc. Q3 2017 2017-10-26 C+
CAL Caleres, Inc. Q2 2017 2017-08-29 B+
LITE Lumentum Holdings Inc. Q4 2017 2017-08-09 B+
FRPT Freshpet, Inc. Q2 2017 2017-08-07 B+
INTU Intuit Inc. Q3 2017 2017-05-23 B+
ADAP Adaptimmune Therapeutics plc Q1 2017 2017-05-10 D
ISDR Issuer Direct Corporation Q1 2017 2017-05-06 C
XPO XPO Logistics, Inc. Q1 2017 2017-05-04 B
SRPT Sarepta Therapeutics, Inc. Q1 2017 2017-04-28 D
SAH Sonic Automotive, Inc. Q1 2017 2017-04-26 C
SYK Stryker Corporation Q4 2016 2017-01-24 C+
MCS The Marcus Corporation Q3 2016 2016-10-27 C+
GSK GSK plc Q3 2016 2016-10-26 B
VYGR Voyager Therapeutics, Inc. Q2 2016 2016-08-11 A
SQ Square's Q2 2016 2016-08-04 A
DGII Digi International Inc. Q3 2016 2016-07-28 B
PAR PAR Technology Corporation Q1 2016 2016-05-04 D
PM Philip Morris International Inc. Q1 2016 2016-04-19 B+

How the model reasoned

RBLX · Q2 2023 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. YES The transcript shows a clear positive current development in advertising, where management's prepared remarks mention live ads, 200 activations, 19% of top 100 with ad units, and some demand exceeding supply. In the Q&A, they add fresh specifics like pricing strategy (gentle now, floating later), new ad unit types, 12% of top 100 using portals, demand in 17-24 female cohort, self-serve options, and brand volume challenges. These details are operational and additive across multiple exchanges, meeting GATE 1 criteria. For GATE 2, advertising is driven by Roblox's own creation and control: 200 activations, portal ad units, self-serve platform, and rollout execution. It's not reliant on external industry tailwinds but on their platform improvements and brand engagement. This satisfies the primary engine condition.
SG · Q3 2023 → YESThe task is to evaluate two gates based on the Sweetgreen earnings call transcript and return YES only if both gates are YES, otherwise NO. YES The transcript shows a clear positive current development in Infinite Kitchen, with management's Q&A responses adding substantial new operational details—such as first-unit performance, customer experience improvements, margin leverage, AUV targeting, retrofit opportunities, and throughput optimizations—that go beyond the prepared remarks' high-level plans. This satisfies Gate 1 criteria for additive, substantive detail across multiple exchanges. For Gate 2, Infinite Kitchen is a proprietary technology the company developed and controls, with momentum driven by its own execution, customer adoption, and operational refinements rather than external tailwinds, making it the primary engine.
ALKT · Q4 2023 → YESThe task is to evaluate two gates based on the earnings call transcript and return YES only if both are YES, otherwise NO. YES The transcript shows a clear positive current development in the bank's market progress and add-on sales momentum, with Q&A providing substantial new operational details like specific backlog numbers, implementation timelines, product adoption rates, and customer-specific challenges that go beyond the prepared remarks. For GATE 2, the primary engine is Alkami's own platform, cloud-native architecture, and execution on replacements of legacy systems, which would largely continue even if external conditions shifted, as the company is actively winning share through its controlled rollout and product improvements.

More from the question bank

Spending like a bigger company on purposeAnswers go deeper than the scriptPriced for a smaller companyOvertaken by their own successRunning hot in customers' handsOutside actors already movingAll questions →
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.