Intel generated a fair amount of positive feedback from the investment community following its decision to publish – in advance of the recent earnings conference call – the CFO’s prepared remarks. The rationale was simple: to better prepare the audience and allow more time for interactive Q&A with management.
We have always counseled clients that the conference call remarks should not regurgitate the press release and MD&A. Analysts consistently tell us they don’t want that; they can and do read the materials themselves. The remarks should provide context, insight and explanation on key metrics, not a painfully long review of every line item in the financial statements. And the call is an important opportunity to discuss operational progress, review performance against strategy, and outline upcoming milestones.
So, should you follow the Intel model next quarter? (more…)