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Tellvest Earnings Pulse
Earnings Pulse — calendar Q2 2026
Archive581 companies with scores for calendar Q2 2026 · 583 for calendar Q1 2026
Reporting periods mapped to calendar Q2 2026: each company’s fiscal quarter is placed in the calendar quarter that contains the month it ends. Company rows show their own fiscal quarter.
Average earnings-call score
Average of the 1–10 scores of all 581 companies with scores for this period. 10 is most positive.
- Compared with the prior period
- 7.0/10 in calendar Q1 2026 (583 companies with scores). Each average uses every score for its own period. The change counts only the 579 companies scored in both quarters.
- Interactive view
- Economy for calendar Q2 2026 →
Sectors
Average score by sector, for sectors with at least 3 companies with scores in this period.
Most optimistic
| Sector | Average | Companies |
|---|---|---|
| Technology | 8.1/10 | 119 |
| Energy | 7.5/10 | 23 |
| Healthcare | 7.4/10 | 63 |
Least optimistic
| Sector | Average | Companies |
|---|---|---|
| Utilities | 6.0/10 | 32 |
| Consumer Cyclical | 6.2/10 | 61 |
| Consumer Defensive | 6.2/10 | 36 |
Sector change vs calendar Q1 2026
Improving most
| Sector | Prior → this | Change | Matched |
|---|---|---|---|
| Energy | 6.7 → 7.5 | +0.9 | 23 |
| Industrials | 6.7 → 7.4 | +0.7 | 82 |
| Real Estate | 6.5 → 6.9 | +0.4 | 31 |
Declining most
| Sector | Prior → this | Change | Matched |
|---|---|---|---|
| Utilities | 6.8 → 6.0 | −0.7 | 32 |
| Consumer Cyclical | 6.4 → 6.2 | −0.2 | 61 |
Matched companies: each average uses only companies with scores in both periods, and a sector needs at least 3 of them. The change is calculated before rounding, so it can differ by 0.1 from the gap between the two rounded averages.
Company movers
Largest score changes among active companies with scores in both calendar Q1 2026 and calendar Q2 2026. Each link opens the company page at the fiscal quarter behind the current score.
Of 577 active companies with scores in both periods: 209 rose, 148 fell, 220 unchanged.
Largest gains
| Company · fiscal quarter | Score (prior → this) | Change |
|---|---|---|
| Dow Inc.DOW · opens FY2026 Q2 | 3 → 9 | +6 |
| LyondellBasellLYB · opens FY2026 Q2 | 4 → 9 | +5 |
| Applied MaterialsAMAT · opens FY2026 Q2 | 5 → 9 | +4 |
| APA CorporationAPA · opens FY2026 Q2 | 5 → 9 | +4 |
| Baxter InternationalBAX · opens FY2026 Q2 | 3 → 7 | +4 |
Largest declines
| Company · fiscal quarter | Score (prior → this) | Change |
|---|---|---|
| EQT CorporationEQT · opens FY2026 Q2 | 9 → 2 | −7 |
| DraftKings Inc.DKNG · opens FY2026 Q2 | 9 → 3 | −6 |
| Las Vegas SandsLVS · opens FY2026 Q2 | 9 → 3 | −6 |
| Public Service Enterprise GroupPEG · opens FY2026 Q2 | 9 → 3 | −6 |
| Expand EnergyEXE · opens FY2026 Q2 | 7 → 2 | −5 |
Equal changes are listed in ticker order (A–Z). When more companies tie for fifth place than fit, the first tickers alphabetically are shown.
Macro themes
Theme signals (flags) recorded from calls mapped to this period, and how management characterized them.
| Theme | Flags | Improving | Deteriorating | Other |
|---|---|---|---|---|
| AI & technology | 245 | 230 | 1 | 14 |
| Consumer spending | 204 | 46 | 48 | 110 |
| Capital expenditure | 193 | 169 | 8 | 16 |
| Inflation | 185 | 16 | 117 | 52 |
| Supply chain | 136 | 27 | 64 | 45 |
| Enterprise spending | 127 | 96 | 5 | 26 |
A flag is one theme signal recorded from a call; a company can contribute more than one. Other = flags recorded with any other direction (mixed, stable or not mentioned). Up to six themes, most-flagged first.
Theme change
Change in the number of companies flagging each theme, among companies with earnings records in both periods.
Gaining attention
| Theme | Companies (prior → this) | Change |
|---|---|---|
| Inflation | 112 → 184 | +72 |
| Foreign exchange | 54 → 81 | +27 |
| Labor market | 46 → 71 | +25 |
| Capital expenditure | 170 → 191 | +21 |
Losing attention
| Theme | Companies (prior → this) | Change |
|---|---|---|
| Trade & tariffs | 202 → 126 | −76 |
| Enterprise spending | 192 → 123 | −69 |
| Regulation & policy | 90 → 39 | −51 |
| Consumer spending | 222 → 200 | −22 |
These are company counts, not flags: how many companies with earnings records in both periods flagged each theme. They are not comparable with the flag counts above. Up to four themes each way.
Analysts who pushed hardest
| Analyst | Challenging | Questions |
|---|---|---|
| Rich AndersonCantor Fitzgerald | 71% | 5 of 7 |
| Brian OssenbeckJPMorgan | 57% | 4 of 7 |
| Mike DahlRBC Capital Markets | 57% | 4 of 7 |
| Joe GiordanoTD Cowen | 50% | 5 of 10 |
| John KimBMO Capital Markets | 50% | 4 of 8 |
Share of each analyst’s questions scored as challenging (minimum 5 questions). Up to five analysts.
How to read this
Period. A report covers reporting periods mapped to one calendar quarter, not calls held in that quarter. A retailer’s fiscal Q2 can map to calendar Q3; each company row names its fiscal quarter.
Counts. “Companies with scores” counts companies with a recorded score for the period. It is not a count of every company that reported.
Comparisons. Each average score uses that period’s full set of scores. The change in the average counts only companies scored in both periods. Sector change and company movers use matched companies: only those with scores in both periods. Theme change uses companies with earnings records in both periods.
Updates. Figures are calculated from the scores currently recorded, so a report can change when scores are added or revised.
How to read Tellvest Earnings Pulse · How to read the Economic Sentiment Index
Built from SEC filings and public earnings transcripts. Descriptive analysis, not investment advice. Explore any company at tellvest.com/companies.