Sector Sentiment · Utilities (Discourse)

## What this measures

Mean `sentiment_score` across S&P 500 companies in the GICS Utilities sector, trailing 90 days, one document per company per calendar quarter.

## Why it matters

Sector tone diverges long before sector earnings do. Read against the cross-sector mean (`discourse.sentiment`).

## How to read it

The score runs from 0 to 1. A rise means management language has become more positive across Utilities companies in the past 90 days; a fall means it has turned more cautious or negative. Compare the level to the all-sector mean to see whether Utilities tone is leading or lagging broader sentiment.

## What it does not say

The score reflects only the tone of management language, not the content of business results or forward guidance. It does not predict earnings, nor does it weight companies by market capitalisation or exclude any firm in the sector.

## Source

Palanor derives this series from sentiment scores computed on earnings call transcripts and regulatory filings of S&P 500 Utilities companies. The underlying documents come from discourse, Palanor's document intelligence subsystem.

## Revision — 2026-09-26

Universe updated to current S&P 500 constituents (8 out, 3 in). Out: Builders FirstSource, Molson Coors and The Trade Desk, which left the index on 21 September 2026; Electronic Arts, which was taken private and left on 5 August 2026; and MongoDB, Cloudflare, Snowflake and Zoom, which were never members and had been included in error since May 2026. In: Bloom Energy, Everpure and Illumina, which joined on 21 September 2026. Membership now comes from a dated constituent list refreshed monthly. The corrected list applies from 26 September 2026. Readings before that date are unchanged.