Lots of executives are talking about AI. One abbreviation they're mentioning less? ESG.
With AI among the few things to truly captivate investors this year, more executives, from those at Nvidia Corp. to Walmart Inc. WMT to Stitch Fix Inc. SFIX, are talking up ways to harness the technology. One abbreviation they’re mentioning less? ESG.
Between March 15 and June 9, 74 companies in the S&P 500 mentioned the term “ESG” on their earnings calls, according to FactSet. That’s the lowest since the second quarter of 2020, when COVID-19 was top-of-mind, and a broader downtrend from the peak of 156 in the fourth quarter of 2021, when the economy’s reopening and price increases helped drive record profit margins.
“It is interesting to note that while the number of companies citing ‘ESG’ on earnings calls decreased on a sequential basis in Q1, the number of S&P 500 companies citing ‘AI’ on earnings calls increased on a sequential basis,” he said in a report on Friday. Oppenheimer analysts on Friday said demand for Adobe’s ADBE design tools was “currently bruised but not broken.” And they said said that the company’s Firefly AI art generator “has the capacity to dispel the bear case over Digital Media penetration.”
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