Doing quality research before actually going ahead and processing transcripts for earnings conference or any other corporate conference calls is vital for delivering quality transcripts. Research is actually the first step for a transcriptionist to prepare for transcribing corporate conference calls. The research is widely known as ticker research among the transcriptionists; ticker is the way the companies are identified in the stock exchanges.
Transcriptionists would spend at least 30 to 40 minutes upfront doing ticker research. This would help them to become familiar with the industry and company-specific terminologies that they might come across during the process of transcribing the conference calls.
Key research sources that conference call transcriptionists look for are; Corporate Website, Google Finance, EDGAR Filings, etc.
Now, let us look at the five key research items that transcriptionists look for in order to ease the transcription process.
1.Business Description: This is a short description of the full business that the company operates in. This allows the transcriptionist to have an overall idea about the company’s business interests.
2.Current Press Release and Archive Press Releases: Normally, companies publish a press release just before they conduct conference calls. Also, they retain older press releases that they would have published prior to their earlier events. Reading through these releases would help transcriptionists to understand the context on which the conference call is being conducted and would also help them to cross check the numbers the management discusses during the course of the call.
3.Product List: Scanning through the product list published in the company website helps transcriptionists to clearly decipher the product names that are discussed during the call.
4.Management and Analyst Details: This helps a great deal in identifying speakers. It is very important to name every speaker that participates in the call. Most of the clients prefer management details to be researched from company websites so that the names are entered as it is specified in the company website.
5.SEC Filings & Key Developments: The research helps transcriptionists to understand and decipher industry-specific terminologies discussed during the call.
A good conference call transcriptionist spends time on thorough and extensive research before they actually get on with the transcription procedure.
What is an earnings call? Earnings calls are conference calls conducted by public listed companies to discuss their financial performance for a particular reporting period. Normally, companies do this reporting quarterly and yearly. Analysts, investors and media participate in these conference calls. It is estimated that there are over 4,000 public listed companies in US trading actively on NYSE or NASDAQ. These earnings conference calls are critical for companies’ short and long-term success. Earnings calls make it possible for the public listed companies to share important data and information with their shareholders to analysts.
Usually public companies publish a press release before conducting their earnings conference calls. The press release covers a summary of financial performance and new releases. Earnings calls are conducted by public companies for a variety of reasons. It is mandatory for public-listed companies to disclose certain information with the public and it is required by law. Disclosures like proposed merger & acquisition, major tender offers, etc. are also done during these conference calls. Investors who follow these companies attend these conference calls to know more about their performance.
What happens if investors happen to miss these events due to other commitments? The webcasts are archived in the company websites for a certain period of time so that they can log in and listen to the calls. This makes earnings call transcripts important. Investors or analysts can go through earnings call transcripts to know what was discussed on the call. They can search and find the important sessions covered during the earnings call. Earnings call transcripts are typically verbatim transcripts of earnings conference calls and they include Q&A session as well. Earnings call transcripts help public companies to share information to a wider audience at their convenience.
Earnings call transcripts allow companies to be more transparent, which is widely appreciated by investors. Accurately captured verbatim transcripts ensure no confusion on what was covered on the earnings call. The transcripts can also be used as a record that is easily reference-able.
Earnings call transcripts, who does it for you? Though there are quite a few transcription service providers around the globe who provide earnings call transcripts, people prefer to consume these transcripts from reliable sources.
TranscribeNow is a transcription service provider specialized in earnings call transcripts.