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Investor Relations Q&A

Investor relations AI for earnings prep: every analyst answer cited to the filing and checked against everything you have said before

Consistent, cited answers for every analyst call.

See one case, screen by screen ↓
target100%of answers checked against every earlier public statement, and against public-only figures, before they are sent
demo3figuresheld as not public this quarter — the Storm Ilse total, a crew cost and a Q3 sales figure; none left the building
demo7conflictscaught before sending — wording that differed from an earlier call, such as “about 8%” for a 7–8% range
target2daysfor the quarter's Q&A book, instead of about two weeks; one question in under a minute
The problem

Why one analyst reply can become next quarter's problem

Between earnings calls, an investor relations team answers the same analyst questions again and again — the capital plan, earnings guidance, rate base growth, the dividend, equity needs, storm costs, data-centre load — and builds a Q&A book of 40–60 likely questions for the CEO and CFO. Every answer has to use the figure the company has already published, in the words it already used. Today that means searching call transcripts, quarterly reports and Investor Day decks by hand, one question at a time.

The risk is in the small differences. A range said as a point — “about 8%” when the CFO said “7 to 8%” — can be heard as a raise and turn into an analyst note. A number lifted from a draft regulatory filing is material non-public information, and Regulation FD forbids giving it to analysts before the public has it. With utility capital plans this large, funded by new equity and debt, each new figure is one more chance for one call to say something different from the last.

typical$6.25MSEC penalty one listed company paid in 2022 after its IR staff privately guided analysts before quarter-end
estimated~2weeksof IR time to build one quarter's Q&A book by hand
Where a quarter's Q&A book days goestimated
By hand10 days
With the solution2 days
  • Predicting what analysts will ask on the call2 → 0.3 d
  • Finding each figure in transcripts, reports and decks3.5 → 0.3 d
  • Checking each answer against what was said before2 → 0.2 d
  • Clearing figures that may not be public with legal1 → 0.4 d
  • Checking the call script against the record1 → 0.3 d
  • CFO review and sign-off0.5 → 0.5 d

Estimated split for one quarter's Q&A book of about 50 questions, in working days, by hand and with the solution.

How it works

How an analyst question is answered

Six agents find the figure, write the sentence and check it against everything said before; IR sends and the CFO signs the book.

What comes in
Filings in332 public documents · reports, transcripts, decks, releases
Agents at work
Filing readerfigure + page
Then
Answer agentfigure + sentence
Prep book builder
Then
Consistency checkerevery earlier statement
Disclosure guard
Then
Script checkermargin notes
A person decides
Investor Relationssends the reply; CFO signs the book
What comes out
Answer ready to send, cited to the page
Said-before consistency check
Signed Q&A book for the call
One case, step by step

Sixteen days before the Q3 call, from the inbox to a signed Q&A book

Lumina Utilities serves 2.1 million electricity and 640,000 water customers and reports its third quarter on Thursday 29 October 2026 — release at 07:00, call at 10:00. Today is Tuesday 13 October; the quiet period started on 1 October. Nadia Okafor has 14 analyst questions open, and the Q&A book is due to the CFO on 22 October. Here is her morning, screen by screen, in the working solution.

  1. 0108:12

    “What was capex guidance?” — answered as a sheet she can send

    Nadia Okafor · Director, Investor Relations

    Dana Whitcomb of Kestrel Capital asks a simple one, and two other analysts have asked the same. The answer opens with the figure set large — $14.2B for the five-year plan, 2026–2030, $2.9B of it in 2026 — and the sentence ready to send, in the words of the CFO, Marcus Feld, on the Q2 call. Under it, the said-before line shows every public statement of the plan: $13.6B in the 2025 annual report, raised to $14.2B at Investor Day on 10 March, and the same on the Q1 call, the Q2 report and the Q2 call.

    “Consistent with the Q2 call · 30 Jul 2026” · 6 public statements read · raised once, at Investor Day

  2. 025.8 seconds

    The page in the filing, opened at the line

    Filing reader and Answer agent

    The answer agent read 41 figures in 332 public documents and kept two sources: the Q2 2026 earnings call transcript, page 6, and the Q2 2026 quarterly report, page 38. One click opens the transcript at the highlighted sentence, with the figures read on that page and every answer that cites it. The filing reader had read the transcript within 4 minutes of its release.

    “5.8 s · 6 statements checked · every figure cited to the page”

  3. 03Insert in reply

    A reply with its source and the safe-harbour line

    Nadia Okafor · Director, Investor Relations

    The reply to Dana carries the sentence, the source — Q2 2026 earnings call transcript, page 6, on the investor website — and, because the plan is forward-looking, the safe-harbour sentence. Joel Hart of Fenwick Grant and Ana Ruiz of Bayview Partners asked the same, so Nadia can reply to all three with one answer. Nothing goes until she presses Send.

    “Logged to the disclosure record with its sources”

  4. 04Next question

    “About 8%” is flagged — the CFO said “7 to 8%”

    Consistency checker

    Raj Menon of Harbourline Securities asks whether rate base growth is still about 8% a year. Leah Duarte's draft says it is. The consistency checker read three earlier statements — Investor Day, the Q1 call, the Q2 call — and every one said 7–8%. The last node on the said-before line turns red, and Copy and Insert in reply stay off until the wording is fixed.

    “‘About 8%’ reads as the top of the range: analysts will hear a raise”

  5. 05One click

    Use the published wording

    Leah Duarte · Investor Relations Manager

    One click rewrites the draft in the published words: “We expect rate base to grow 7 to 8% a year through 2030, from $21.4 billion at the end of 2025.” The verdict turns to “Consistent with the Q2 call”, and the disclosure checks now read “Wording now matches the Q2 call”. The checker proposes the wording; it never changes a figure itself.

    “Draft now uses the Q2 call wording: ‘7 to 8%’”

  6. 06Another question

    A storm cost that is not public yet, held

    Disclosure guard

    Elise Tran of Northpier Research asks what the Storm Ilse ice storm cost to restore. The draft answer says $412.6 million — a figure that sits only in draft 3 of the cost recovery filing, due to be filed with the Westmark PSC on 14 November. The guard holds it and offers the only public figure: $380–430 million, from the news release of 6 October, page 1. Releasing the exact figure needs the General Counsel, Owen Pratt.

    “Exact figure from an internal draft: material, not yet public”

  7. 07One more

    Large load is up — and the answer says so

    Consistency checker

    Tom Lindqvist of Copperfield & Ames asks how many GW of data-centre load are signed. The Q1 call said 1.9 GW and the Q2 call 2.4 GW; the news release of 7 October says 3.1 GW. The answer uses the latest public figure and names the earlier one: “up from the 2.4 GW we reported on the Q2 call.”

    “Uses the latest public figure, and names the change”

  8. 08The call script

    Draft 4 of the CFO's remarks, with notes in the margin

    Script checker · Sofia Brandt, Head of Corporate Communications

    The script checker reads Marcus Feld's prepared remarks sentence by sentence against the record. Three notes need a fix: “about 8% a year” differs from the Q2 call; “$412.6 million” is not public yet; and operating EPS of $0.98 is a non-GAAP figure without its GAAP figure and reconciliation reference. Three more confirm the EPS range, the capital plan and the 3.1 GW update. Nothing changes until someone accepts it.

    “Notes sit in the margin; nothing is changed until you accept it.”

  9. 09The Q&A book

    52 likely questions, each answered from the record

    Prep book builder · Leah Duarte

    The prep book builder predicted 52 questions from 17 analysts' history, 9 peer utility calls and this quarter's news — Storm Ilse, large load, rulemaking — grouped by topic, each with its speaker: Marcus Feld or the CEO, Andrea Solís. 50 are answered from the record, 3 were fixed to the published wording, 1 is updated and says so, and 2 are held with the public range used.

    “Held as not public · public range used; cleared by Owen Pratt”

  10. 10Signed

    The CFO signs the book

    Marcus Feld · Chief Financial Officer

    Nadia has prepared it and Owen Pratt has cleared the two holds. Marcus reviews the summary — every answer checked against earlier statements, no figure that is not public, holds cleared by the General Counsel — and signs as Marcus Feld. The signature is logged.

    “52 questions · 50 answered from the record · 3 fixed to the published wording · 2 held, with the public range used”

Who it’s for

Built for everyone who speaks to the market.

The same Q3 call, seen by the five people who prepare it — what their quarter looked like, and what it looks like now.

NO
Nadia OkaforDirector, Investor Relations · sends replies to analysts
Director, Investor Relations
Before
14 analyst questions in the inbox and the Q&A book due to the CFO on 22 October. “I know Marcus said it on a call. I need the exact words before I reply.”
Now
Opens each question as an answer she can send — the figure, the sentence in the published words, the page — and sees every earlier statement of that figure before she presses Send.
LD
Leah DuarteInvestor Relations Manager · builds the Q&A book and the model updates
Investor Relations Manager
Before
Rebuilds the Q&A book every quarter from the last one. “Half the book is last quarter's answers, and half of those are out of date.”
Now
Starts from 52 likely questions already answered from the record, with the conflicts, updates and holds marked.
MF
Marcus FeldChief Financial Officer · takes most analyst questions on the call
Chief Financial Officer
Before
Takes most of the analyst questions on the call. “Give me one number per topic, and the number we said last time.”
Now
Gets one answer per question, each checked against what he said before, and signs the book on one screen.
OP
Owen PrattGeneral Counsel · chairs the disclosure committee
General Counsel
Before
Clears anything new before it is said. “Nothing goes to an analyst that isn't already public. Nothing.”
Now
Every figure that exists only in a draft is held before it is sent. Only he can release one, and only once it is public.
SB
Sofia BrandtHead of Corporate Communications · press releases and the call script
Head of Corporate Communications
Before
Owns the releases and the call script. “The release, the script and the call must say the same thing.”
Now
Reviews the CFO's remarks with a margin note on every figure — what was said before, and whether it is public.
Built on the engine

6 agents. Each with one job, and hard limits.

Six agents find the figure, write the sentence and check it against everything said before; IR sends and the CFO signs the book.

Filing reader

Reads every annual and quarterly report, call transcript, investor presentation and news release, and records each figure with its sentence, speaker, page and date.

  • A draft or internal document is never marked public
  • Every figure keeps its page and date
  • Transcripts keep the speaker
Answer agent

Turns an analyst question into the figure and one sentence in the company's published words, preferring the CFO's or CEO's words on the last call, with the source pages.

  • Never recalculates a figure
  • Never answers without a public source
  • Never sends anything to an analyst
Consistency checker

Lines up every earlier public statement of the same figure by date and marks the answer the same, updated or in conflict. A range is said exactly as published; a changed figure names the earlier one.

  • Never rewrites a figure itself — proposes the published wording
  • Every verdict names the statement it compared with
Disclosure guard

Confirms every figure in an answer was public before now, blocks comment on the unreported quarter in the quiet period, gives non-GAAP figures their GAAP figure and reconciliation page, and adds the safe-harbour line.

  • Never releases a held figure — only the General Counsel can
  • Every hold is logged
Prep book builder

Predicts the questions analysts are likely to ask on the call from their history, peer calls and the quarter's news, drafts each answer through the checks and assigns a speaker.

  • Never adds commentary on the unreported quarter
  • The CFO signs the book
Script checker

Reads the call script and release drafts sentence by sentence against the record and writes a margin note, with its source, on every figure.

  • Notes only — never edits the draft
Chief Financial Officer

Signs the Q&A book; the General Counsel releases held figures. The agents propose; a named person decides.

Ask in plain words

Ask about anything you have said in public

Ask about any figure, call or filing, or say what to prepare for the next call. Every answer points to the page it came from.

What did Marcus say about equity on the Q2 call?

On the Q2 call Marcus said equity needs are about $1.1 billion through 2028, with no block equity. The Q2 quarterly report adds that $310 million has been issued under the at-the-market programme. Both sit inside the $1.0–1.2B range from Investor Day.

Which answers in the Q&A book changed since the Q2 call?

Four. Three were fixed to the wording we published: rate base growth is “7 to 8%”, not “about 8%”, and operating EPS now carries its GAAP figure. One was updated: large-load signings are 3.1 GW, up from 2.4 GW.

Draft a reply to Dana Whitcomb on capex

Here it is, in Marcus's words from the Q2 call: “We reaffirmed our five-year capital plan of $14.2 billion for 2026 through 2030, including $2.9 billion in 2026.” It is consistent with every statement since Investor Day. The reply is open for you to send.

Is the Storm Ilse cost public yet?

Only as a range: $380 million to $430 million, in the news release of 6 October. The $412.6M total is in the draft recovery filing, due 14 November, and is not public. Until it is filed, every answer uses the range.

Every screen

The working solution, as it ships.

13 screens from the working solution, on its sample data. Pick one to see it large.

The answer sheetThe analyst inbox, one question answered with the figure, the sentence ready to send and the source pages, the said-before line and the timed steps behind it.
The page in the filingThe Q2 call transcript opened at the highlighted sentence, the figures read on the page and every answer that cites it.
The replyThe answer in a reply with its source and the safe-harbour line, and the other analysts who asked the same.
A conflict caughtA draft that says “about 8%” against the CFO's “7 to 8%”, flagged on the said-before line with the earlier words.
The published wordingOne click rewrites the draft in the words of the Q2 call, and the verdict turns consistent.
A figure heldAn exact storm cost found only in a draft filing, held, with the published range offered instead.
An updated figureLarge-load signings at 3.1 GW, said as an update from the 2.4 GW on the Q2 call.
What we have saidEvery guided figure at each public event this year, changes coloured and the figure that is not yet public locked.
The call script, checkedThe CFO's prepared remarks with a margin note on every figure: a differing range, a figure not yet public and a non-GAAP figure without its GAAP figure.
The Q&A book52 likely questions by topic, each with its speaker, its answer and its check, and the sign-off on the right.
The CFO signsThe summary of the book and its checks on one screen, ready for the CFO to sign.
InsightsQuestions answered this quarter, the median time to an answer, conflicts caught and figures held, by topic and by week.
Your rulesDisclosure rules, the quiet-period calendar, who sends and who signs, and the wording rules.
Governance

Built for disclosure: public only, consistent, signed.

Only published documents answerEvery figure in an answer comes from a published report, transcript, presentation or release and carries its document, page and date. Drafts and internal papers are read by the guard, never quoted.
Checked against everything said beforeEvery answer runs the consistency check before it can be sent — against all public events since 2019. Ranges are said exactly as published, and an updated figure names the earlier one.
Figures not yet public are heldA figure found only in a draft, such as the Storm Ilse total in the draft recovery filing, is held and the public range offered. Only the General Counsel can release it, and only once it is public.
Quiet period, non-GAAP and safe harbourIn the quiet period there is no comment on the unreported quarter. Operating EPS and other non-GAAP figures carry their GAAP figure and the reconciliation page, and forward-looking answers carry the safe-harbour sentence.
IR sends, the CFO signsAgents never send anything to an analyst. Investor relations sends each reply, the General Counsel clears holds, and the CFO signs the quarter's Q&A book.
Every reply on the disclosure recordEach reply sent is logged with its sources, and each agent step and human decision — who opened a question, what was flagged or held, who cleared and who signed — is recorded with its time.
Configuration

Your disclosure policy, not ours

The disclosure rules, the quiet-period calendar, who signs and how figures are worded are settings, chosen by investor relations and the disclosure committee. Turning a rule off tells the disclosure committee.

SettingDefaultChoose from
Answer only from published documentsOnOn · Off — drafts and internal papers are read by the guard, never quoted
Check every answer against earlier statementsOnOn · Off — all public events since 2019
Hold any figure not yet publicOnOn · Off — only the General Counsel can release it
Non-GAAP figures carry their GAAP figureOnOn · Off — with the reconciliation page
Add the safe-harbour line to forward-looking answersOnOn · Off — the safe-harbour sentence is your own text
Quiet period starts1 Oct 2026Any date — no comment on the unreported quarter; results release, earnings call and Q&A book due date set beside it
Signs the Q&A book · releases a held figureMarcus Feld, CFO · Owen Pratt, General CounselNamed people — replies sent by Nadia Okafor and Leah Duarte; call script reviewed by Sofia Brandt
Ranges are said exactly as publishedOnOn · Off — never narrowed to a point; an updated figure names the earlier one
Connections

Works with what your company has already published

Annual and quarterly reportsread by page, every figure with its date
Earnings call transcriptsprepared remarks and Q&A, every figure with its speaker
Investor presentationsInvestor Day and conference decks, read by slide
News releasesearnings, dividends, rate case orders and updates, read within minutes
Disclosure policy and draftsthe board-approved policy and internal drafts, read by the guard, never quoted
Analyst questionsemail questions and earlier call questions, grouped by analyst and topic
What it changes

The difference, in numbers.

Every figure is labelled: a target the solution is built to, an estimate, a typical published result, or a proven one.

target
100%
of answers checked against every earlier public statement, and against public-only figures, before they are sent
52 of 52 answers
checked in the Q3 Q&A book
typical
$6.25M
SEC penalty one listed company paid for guiding analysts privately; the guard holds any figure not yet public
target
2days
for the quarter's Q&A book, instead of about two weeks; one question in under a minute
By hand~2 weeks
With agents2 days

“demo” = seen in the working solution, on its sample data · “target” = the design goal, measured in the live solution · “estimated” = our estimate from an IR team's quarter (the Q&A book and the split of its days) · “typical” = published figures: SEC v. AT&T Inc., settled 2022, $6.25M civil penalty. Regulatory context: Regulation FD, 17 CFR 243.100–103; Regulation G and Item 10(e) of Regulation S-K (non-GAAP). Lumina Utilities, the analysts and their firms, the people, documents and figures named on this page are fictional — characters and sample data in the working solution.

Questions

What investor relations teams ask us.

What is investor relations Q&A software?

Software that answers analyst and investor questions from a company's own published filings and helps the IR team prepare for each earnings call. Investor Relations Q&A answers each question with the figure, a sentence in the company's published words and the page it came from, checks it against everything said before, and builds the quarter's Q&A book for the CFO to sign.

How does it answer an analyst question from the filings?

The filing reader records every figure in the published reports, transcripts, presentations and releases with its sentence, speaker, page and date. The answer agent finds the latest public statement of the figure asked about and writes one sentence in the published wording, preferring the CFO's or CEO's words on the last call. In the sample, the capex answer took 5.8 seconds, with two sources cited to the page.

How does it check consistency with prior disclosures?

The consistency checker lines up every earlier public statement of the same figure and marks the answer the same, updated or in conflict. In the sample, a draft saying rate base grows “about 8%” was flagged because the Q2 call said “7 to 8%”, and one click replaced it with the published wording. An updated figure, such as large-load signings at 3.1 GW, names the earlier 2.4 GW.

Does it help with Regulation FD and figures that are not yet public?

The disclosure guard confirms that every figure in an answer was public before now and holds any figure that appears only in a draft or internal paper, offering the published figure instead. Only the General Counsel can release a held figure. In the quiet period it blocks comment on the unreported quarter. Your disclosure committee still owns the judgement on what is material.

How does it build the earnings call Q&A prep book?

The prep book builder predicts likely questions from each analyst's history, peer utility calls and the quarter's news, answers each through the same checks and assigns a speaker. The sample Q3 book has 52 questions: 50 answered from the record, 3 fixed to the published wording, 1 updated and 2 held with the public range used. The CFO signs it.

Does it check non-GAAP figures and the call script?

Yes. A non-GAAP figure such as operating EPS is given its GAAP figure and the reconciliation page, and forward-looking answers carry your safe-harbour sentence. The script checker reads the CFO's prepared remarks sentence by sentence against the record and writes margin notes; it never edits the script.

Do people stay in control of what is said to analysts?

Yes. Agents never send anything to an analyst and never release a held figure. Investor relations sends each reply, the General Counsel clears holds, the CFO signs the Q&A book, and every reply sent is logged with its sources.

How long does it take to go live?

The Agentic Solution Engine builds and deploys it from your requirements and documents — your disclosure policy, your published reports, call transcripts and presentations, and a sample of past analyst questions — and it goes live once every quality gate has passed. We will walk you through it on your own filings first.

See it on
your filings.

We'll run Investor Relations Q&A on your own published reports, call transcripts and last quarter's analyst questions.